Now that the numbers for January 2017 are in, here is the latest real estate market update for Wilmington, NC. The numbers are on par with what we expected and, when compared to January 2016, show massive changes in key areas:
- A 40.75% increase in the total number of homes sold
- A 42% increase in the total volume of real estate sold
- A 10% decrease in the number of days on market
Combined together these numbers indicate that our market continues to surge towards an even stronger seller’s market. These numbers strongly resemble numbers from 2005 and 2006, the years immediately preceding the market correction that began in 2007 (CLICK HERE for more detailed information about that time frame). As we move through the year, interest rates are expected to rise and it will be interesting to see how that impacts the real estate market.
One of our specialties at the Fine Coastal Living Team is understanding the market and helping our clients understand it as well so that they can make informed decisions. If you or anyone need assistance with real estate matters, please let us know and we are happy to help:
CB: 910-617-3683, CB@FineCoastalLiving.com
Danica: 910-617-0926, Danica@FineCoastalLiving.com