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Back You are here: Home Local Business News Business News Local Businesses Your Local Real Estate Market Analysis April 9th, 2014

Your Local Real Estate Market Analysis April 9th, 2014

By Jody Wainio, SFR, WHS - 2014 President, Wilmington Regional Association of Realtors®
When analyzing ten major zip codes in our region – 28403, 28405, 28409, 28411, 28412, 28451, 28480, 28428, 28449, and 28443 – an average of the zip codes for year-end 2013 shows that:
• Our average sales price has increased by 4.2% from year-end 2012.
• Of the 4,643 sellers in 2013, 26.77% paid some sort of concession toward the purchase of the house.
• Our list to sales price ratio for year-end is 96.41%, an increase from 95.26% for year-end 2012.
• The average list price of the sold properties is $265,687 and is up 2.9% from year-end 2012.
• The average number of days a property remained on the market for the year was 121 days, compared to 145 days for year-end 2012.
• The median sold price of $205,000 for year-end has increased 5.1% from year-end 2012.
The areas of focus in this analysis were:  
• Selling Price – The price the seller accepts for his or her house.
• Sellers Concessions – The amount of money a seller of a house contributes toward the buyers purchase.
• List to Sales Price Ratio – The difference between the list price and the selling price shown as a percentage.
• Days on Market – The number of days a house remains for sale, from the listing date to the date the property is placed under contract.
• List Price – The amount of money a home is listed on the market.
• Median Price – The middle price of all the properties sold in the given time period.
Year-End 28403
• The average selling price of $204,046 has increased 4.4% from year-end 2012 average selling price of $195,385.
• 25% of sellers paid a concession in 2013 compared to 22% for year-end 2012.
• The average list price of $213,052 has increased 3.0% from year-end 2012 average list price of $206,807.
• The average number of days a property remained on the market for 2013 was 116 days compared to 169 days for year-end 2012.
• The median sold price of $172,000 for year-end has increased 9.4% from year-end 2012. The best of all zip codes.
    * Sold homes in 2013 received 95.77% of the asking price, an increase from 94.48% for year-end 2012.
Year-End 28405
• The average selling price of $293,443 has increased 15.0% from year-end 2012 average selling price of $255,129. The best of all zip codes.
• 23% of sellers in 2013 paid a concession compared to 28% for year-end 2012.
• The average list price of $307,332 for 2013 has increased 13.0% from year-end 2012 average list price of $271,880. The best of all zip codes.
• The average number of days a property remained on the market for 2013 was 141 days compared to 150 days for year-end 2012.
• The median sold price of $185,000 for 2013 has increased 8.5% from year-end 2012.
• Sold homes in 2013 received 95.48% of the asking price, an increase from 93.84% for year-end 2012.
Year-End 28409
• The average selling price of $284,192 has increased 11.8% from year-end 2012 average selling price of $254,193.
• 26% of sellers in 2013 paid a concession compared to 35% for year-end 2012.
• The average list price of $293,510 for 2013 has increased 11.4% over year-end 2012 average list price of $263,394.
    * The average number of days a property remained on the market for 2013 was 102 days compared to 123 days for year-end 2012.
• The median sold price of $237,000 for 2013 has increased 7.7% from year-end 2012.
• Sold homes in 2013 received 96.83% of the asking price, an increase from 96.51% from year-end 2012.
Year-End 28411
• The average selling price of $278,466 has increased 5.4% from year-end 2012 average selling price of $264,199.
• 33% of sellers in 2013 paid a concession compared to 42% in year-end 2012.
• The average list price of $289,562 for 2013 has increased 4.3% over year-end 2012 average list price of $277,757.
• he average number of days a property remained on the market for 2013 was 111 days compared to 122 days for year-end 2012.
• The median sold price of $214,950 for 2013 has decreased by .3% from year-end 2012.
• Sold homes in 2013 received 96.17% of the asking price, an increase from 95.12% for year-end 2012.
Year-End 28412
• The average selling price of $192,753 has increased 9.5% over year-end 2012 average selling price of $176,084.
• 28% of sellers in 2013 paid a concession compared to 30% for year-end 2012.
• The average list price of $196,661 for 2013 has increased 7.9% over year-end 2012 average list price of $182,304.
• The average number of days a property remained on the market for 2013 was 91 days compared to 121 days for year-end 2012. The best of all zip codes.
• The median sold price of $166,400 for 2013 has increased 8.4% from year-end 2012.
• Sold homes in 2013 received 98.01% of the asking price, an increase from 96.59% for year-end 2012.
Year-End 28451
• The average selling price of $205,798 has increased 5.3% from year-end 2012 average selling price of $195,446.
• 26% of sellers in 2013 paid a concession compared to 27% for year-end 2012.
• The average list price of $208,981 for 2013 has increased 4.9% over year-end 2012 average list price of $199,156.
• The average number of days a property remained on the market for 2013 was 114 days compared to 146 days for year-end 2012.
• The median sold price of $179,900 for 2013 has increased 5.9% from year-end 2012.
• Sold homes in 2013 received 98.48% of the asking price, an increase from 98.14% for year-end 2012. The best of all zip codes.
Year-End 28480
• The average selling price of $727,210 has decreased 3.2% from year-end 2012 average selling price of $751,320.
• 8% of sellers in 2013 paid a concession compared to 7% in year-end 2012. The best of all zip codes.
    * The average list price of $799,085 for 2014 has decreased 4.6% over year-end 2012 average list price of $837,261.
    * The average number of days a property remained on the market for 2013 was 254 days compared to 291 days for year-end 2012.
• The median sold price of $645,000 for 2013 has increased 2.9% from year-end 2012.
    * Sold homes in 2013 received 91.01% of the asking price, an increase from 89.74% for year-end 2012.
EDITOR’S NOTE: Story to be continued in next week’s Island Gazette.


Year-End 28428

    * The average selling price of $260,637 has decreased 1.7% from year-end 2012 average selling price of $265,146.
    * 18% of sellers in 2013 paid a concession compared to 17% for year-end 2012.
    * The average list price of $270,732 for 2013 has decreased 2.7% over year-end 2012 average list price of $278,143.
    * The average number of days a property remained on the market for 2013 was 180 days compared to 160 days for year-end 2012.
    * The median sold price of $239,900 for 2013 has increased 4.2% from year-end 2012.
    * Sold homes in 2013 received 96.27% of the asking price, an increase from 95.33% for year-end 2012.

Year-End 28449

    * The average selling price of $367,716 has increased 6.5% over year-end 2012 average selling price of $345,291.
    * 8% of sellers in 2013 paid a concession compared to 21% for year-end 2012. The best of all zip codes.
    * The average list price of $383,544 for 2013 has increased 4.1% over year-end 2012 average list price of $368,454.
    * The average number of days a property remained on the market for 2013 was 175 days compared to 199 days for year-end 2012.
    * The median sold price of $300,000 for 2013 has decreased 7.0% from year-end 2012.
    * Sold homes in 2013 received 95.87% of the asking price, an increase from 93.71% for year-end 2012.

Year-End 28443

    * The average selling price of $234,613 has increased 1.5% over year-end 2012 average selling price of $231,222.
    * 38% of sellers in 2013 paid a concession compared to 42% for year-end 2012.
    * The average list price of $240,303 for 2013 has increased 1.4% over year-end 2012 average list price of $237,038.
    * The average number of days a property remained on the market for 2013 was 120 days compared to 137 days for year-end 2012.
    * The median sold price of $225,000 for 2013 has increased .9% from year-end 2012.
    * Sold homes in 2013 received 97.63% of the asking price, an increase from 97.55% for year-end 2012.

Eight out of ten zip codes reported an increase in the average sales price. Nine out of ten zip codes have the List to Sales price ratio above 95%. A substantial indicator that real estate is recovering is the fact that sellers are getting closer to their asking price. Nine zip codes reported fewer days on the market.   

For more market data and listings that covers our entire MLS, please click on "Properties" in our main menu on this website. Take advantage of these exceptional opportunities to invest in the American Dream of homeownership. Contact a Realtor® today!  

An Analysis of information from the Wilmington Regional Association of Realtors® Incorporated, for the period Jan. 1, 2005 through December 31, 2013 – data pulled on January 14, 2014. Average sold numbers for specific neighborhoods within each zip code can be higher or lower than these stated averages. It is highly recommend that you consult a Realtor® to determine how these numbers specifically relate to your neighborhood. Local MLS data is the most accurate source of sales and price information in specific areas, although there may be differences in reporting methodology.