2006 Real Estate Stats

DECEMBER 2006

December’s absorption rate was 58%, a hike normally experienced this time of year due to less homes being listed during the holiday season. We expect home sales in increase slightly as spring nears and sellers adjust to the realities of the new market.

Zip Code Avg. Days on Market Avg. List Price Avg. Sold Price Avg. % of List Price # of Homes Sold
28401 88 $187,156 $163,876 88% 21
28403 52 $302,718 $287,439 95% 16
28405 91 $243,400 $221,344 91% 27
28409 85 $415,124 $392,671 95% 32
28411 75 $370,444 $375,130 100% 56
28412 85 $262,542 $246,459 94% 38
28443 142 $644,779 $420,576 65% 42
28451 63 $221,576 $217,748 98% 45

 

NOVEMBER 2006

November’s absorption rate was 49% (compared to 72% in November 2005). A 49% absorption rate means that for every sale closed in November, 2 more homes were listed. This puts the inventory level for New Hanover County at 9.8 months. New Hanover County excluding the beaches has 7.9 months of inventory available. This means its a great time to buy as buyers have a large selecton of home from which to choose and sellers are offering more competitive pricing.

Zip Code Avg. Days on Market Avg. List Price Avg. Sold Price Avg. % of List Price # of Homes Sold
28401 50 $217,420 $205,548 95% 25
28403 57 $262,150 $239,618 91% 16
28405 78 $381,233 $362,419 95% 34
28409 69 $332,242 $310,874 94% 46
28411 74 $377,367 $325,285 86% 43
28412 97 $298,732 $286,216 96% 37
28443 75 $328,325 $310,227 94% 10
28451 9 $259,224 $259,823 100% 181

 

OCTOBER 2006

October’s absorption rate was 43% (compared to 60% in 2005) indicating that less of the available inventory was purchased in October of this year than last. A 43% absorption rate means that for every sale closed in October, 2.3 more homes were listed. This puts the inventory level for New Hanover County at just over 9 months. New Hanover County excluding the beaches has 7.1 months of inventory available.

Zip Code Avg. Days on Market Avg. List Price Avg. Sold Price Avg. % of List Price # of Homes Sold
28401 51 $157,496 $146,396 93% 22
28403 40 $289,930 $281,486 97% 23
28405 83 $422,909 $394,422 93% 36
28409 72 $333,858 $321,398 96% 38
28411 64 $304,765 $292,125 96% 64
28412 71 $278,318 $266,475 96% 50
28443 100 $361,690 $341,406 94% 36
28451 36 $220,297 $216,156 98% 55

SEPTEMBER 2006

 

Zip Code Avg. Days on Market Avg. List Price Avg. Sold Price Avg. % of List Price # of Homes Sold
28401 67 $190,295 $175,620 92% 20
28403 64 $396,690 $363,722 92% 22
28405 97 $431,310 $395,267 92% 34
28409 48 $291,765 $285,146 98% 43
28411 57 $381,750 $358,336 94% 72
28412 59 $314,680 $253,031 80% 50
28443 86 $387,710 $318,026 82% 30
28451 34 $220,319 $217,300 98% 53

AUGUST 2006

With a current absorption rate of 51% (compared to 78% in August 2005), Wilmington is experiencing a transitional market. If no more new listings became available, it would take approximately 6.1 months to sell everything that is currently active in New Hanover County. What does this mean? Well if you're a buyer, you now have a larger selection of homes from which to choose. If you are a seller, it is more important than ever to price your home competitively so that your property does not sit on the market longer than desired. Please feel free to contact us for further detail.

Zip Code Avg. Days on Market Avg. List Price Avg. Sold Price Avg. % of List Price # of Homes Sold
28401 68 $222,516 $208,488 94% 33
28403 76 $421,056 $377,267 89% 25
28405 58 $299,391 $284,672 95% 35
28409 57 $341,253 $326,207 96% 68
28411 51 $365,418 $351,120 96% 91
28412 51 $235,670 $230,262 98% 67
28443 107 $315,196 $300,139 95% 26
28451 45 $214,793 $207,930
97
 53

 

JULY 2006

In July, there was approximately 5.45 months of inventory available in New Hanover County. This put us in a "balanced market."

Zip Code Avg. Days on Market Avg. List Price Avg. Sold Price Avg. % of List Price # of Homes Sold
28401 24 $128,163 $124,725 97% 22
28403 65 $356,692 $339,992 95% 29
28405 71 $379,713 $358,798 94% 36
28409 47 $376,330 $366,323 97% 75
28411 40 $396,110 $384,205 97% 73
28412 58 $270,588 $263,589 97% 69
28443 24 $281,470 $288,388 100% 41
28451 35 $240,218 $239,142 99% 43

 

JUNE 2006

HouseHunt’s "Current Market Conditions" survey showed that the overall U.S. housing market was close to a rare balance between buyer demand and seller supply for the first time in eight years. This is certainly true in Wilmington North Carolina. We have moved into a moderate market- one that is neither a sellers' nor a buyers' market... this is good news as double-digit price appreciation is simply not sustainable for a multi-year period.

Zip Code Avg. Days on Market Avg. List Price Avg. Sold Price Avg. % of List Price # of Homes Sold
28401 45 $210,123 $200,423 95% 25
28403 47 $349,491 $336,515 96% 28
28405 75 $427,051 $416,246 97% 52
28409 38 $333,589 $327,277 98% 77
28411 44 $332,309 $328,714 99% 107
28412 49 $320,070 $258,951 80% 80
28443 104 $394,508 $391,063 99% 31
28451 43 $224,826 $224,122 99% 67

 

MAY 2006

Wilmington's real estate market continues to show signs of strength, particularly in the sale of homes priced under $200,000. We do expect sales and appreciation to level out some, but this natural in the aftermath of a year like 2005. While the numbers may not point to another record-breaking 12 months with 20% appreciation, 2006 has all the makings of a strong and healthy year.

Zip Code Avg. Days on Market Avg. List Price Avg. Sold Price Avg. % of List Price # of Homes Sold
28401 66 $174,686 $155,435 89% 29
28403 39 $295,761 $285,886 97% 31
28405 82 $347,472 $360,042 100% 40
28409 51 $360,331 $351,608 98% 59
28411 41 $302,046 $294,752 98% 95
28412 62 $280,562 $269,534 96% 63
28443 68 $382,033 $377,266 99% 24
28451 40 $243,309 $240,630 99% 68

 

APRIL 2006

Zip Code Avg. Days on Market Avg. List Price Avg. Sold Price Avg. % of List Price # of Homes Sold
28401 64 $183,979 $176,709 96% 21
28403 43 $345,257 $330,380 96% 21
28405 55 $436,190 $432,451 99% 40
28409 38 $339,935 $331,056 97% 53
28411 32 $325,119 $314,789 97% 84
28412 31 $288,537 $283,077 98% 50
28443 80 $290,626 $286,800 99% 39
28451 36 $220,529 $220,423 99% 56

 

MARCH 2006

Zip Code Avg. Days on Market Avg. List Price Avg. Sold Price Avg. % of List Price # of Homes Sold
28401 58 $180,652 $157,219 87% 40
28403 51 $244,310 $235,173 96% 48
28405 47 $281,590 $275,468 98% 54
28409 38 $316,056 $307,491 97% 60
28411 42 $339,119 $334,482 99% 70
28412 57 $206,481 $198,707 96% 61
28443 72 $265,325 $263,553 99% 49

 

FEBRUARY 2006

Zip Code Avg. Days on Market Avg. List Price Avg. Sold Price Avg. % of List Price # of Homes Sold
28401 62 $156,076 $147,775 95% 32
28403 41 $267,813 $261,239 98% 22
28405 84 $433,161 $418,288 97% 49
28409 72 $423,683 $347,550 82% 45
28411 42 $378,950 $368,976 97% 66
28412 30 $256,685 $253,100 99% 42
28443 95 $327,128 $327,355 100% 33

 

JANUARY 2006

Zip Code Avg. Days on Market Avg. List Price Avg. Sold Price Avg. % of List Price # of Homes Sold
28401 80 $138,185 $135,918 98% 42
28403 50 $242,411 $218,411 91% 18
28405 109 $371,830 $363,903 98% 35
28409 34 $240,596 $239,375 99% 28
28411 27 $334,145 $330,232 99% 67
28412 37 $222,453 $227,653 100% 45
28443 53 $262,477 $257,728 98% 26