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Back You are here: Home News Local and State News Real Estate Market Sales Weekly Real Estate Market Report for July 24, 2013

Weekly Real Estate Market Report for July 24, 2013

I hope this week finds you well. Recently the Wilmington Association of REALTORS released sales info for the region. I wanted to share this information with you.  An average of all zip codes in the area for the second quarter of 2013 shows that:
• Our average sales price has increased by 6.9% from 2nd Quarter 2012.
• Of the 1,215 sellers in 2nd Quarter – 27.33% paid some sort of concession toward the purchase of the house.
• Our list to sales price ratio for 2nd Quarter is 96.10%, an increase from 95.5% for 2nd Quarter 2012.
• The average list price of the sold properties is $267,964 which is up 6.3% from 2nd Quarter 2012.
• The average number of days a property remained on the market for 2nd Quarter was 127 days, compared to 150 days for 2nd Quarter 2012.
• The median sold price of $200,000 for 2nd Quarter has increased 2.6% from 2nd Quarter 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.
As it applies to the zip codes in southern New Hanover County, below you will find their specific data.
28409 Zip Code (southeastern New Hanover County - mainland):
• The average selling price of $276,588 has increased 7.5% from 2nd Quarter 2012 average selling price of $257,360.
• 20% of sellers paid a concession compared to 36% in 2nd Quarter 2012.
• The average list price of $285,441 for 2nd Quarter has increased 6.4% over 2nd Quarter 2012 average list price of $268,268.
• The average number of days a property remained on the market for 2nd Quarter was 106 days, compared to 142 days for 2nd Quarter 2012.
• The median sold price of $235,625 for 2nd Quarter has increased 7.1% from 2nd Quarter 2012.
• Sold homes in 2nd Quarter received 96.9% of the asking price, an increase from 95.9% from 2nd Quarter 2012.
28412 Zip Code (southwestern New Hanover County – mainland):
• The average selling price of $187,866 has increased 6.0% over 2nd Quarter 2012 average selling price of $177,203.
• 28% of sellers paid a concession compared to 32% in 2nd Quarter 2012.
• The average list price of $191,595 for 2nd Quarter has increased 5.1% over 2nd Quarter 2012 average list price of $182,301.
• The average number of days a property remained on the market for 2nd Quarter was 93 days, compared to 114 days for 2nd Quarter 2012.
• The median sold price of $163,500 for 2nd Quarter has increased 5.5% from 2nd Quarter 2012.
• Sold homes in 2nd Quarter received 98.05% of the asking price, an increase from 97.2% for 2nd Quarter 2012.
28428 Zip Code (Carolina Beach):
• The average selling price of $254,454 has decreased .04% from 2nd Quarter 2012 average selling price of $254,619.
• 20% of sellers paid a concession compared to 15% in 2nd Quarter 2012.
• The average list price of $264,791 for 2nd Quarter has decreased 1.2% over 2nd Quarter 2012 average list price of $268,104.
• The average number of days a property remained on the market for 2nd Quarter was 182 days, compared to 158 days for 2nd Quarter 2012.
• The median sold price of $242,450 for 2nd Quarter has increased 4.5% from 2nd Quarter 2012.
• Sold homes in 2nd Quarter received 96.1% of the asking price, an increase from 94.9% for 2nd Quarter 2012.
28449 Zip Code (Kure Beach):
• The average selling price of $373,224 has decreased 4.3% over 2nd Quarter 2012 average selling price of $389,833.
• 10% of sellers paid a concession compared to 22% in 2nd Quarter 2012.
• The average list price of $387,438 for 2nd Quarter has decreased 6.5% over 2nd Quarter 2012 average list price of $414,485.
• The average number of days a property remained on the market for 2nd Quarter was 180 days, compared to 209 days for 2nd Quarter 2012.
• The median sold price of $325,000 for 2nd Quarter has decreased 10.0% from 2nd Quarter 2012.
• Sold homes in 2nd Quarter received 96.3% of the asking price, an increase from 94.0% for 2nd Quarter 2012.
An Analysis of information from the Wilmington Regional Association of Realtors® Incorporated, for the period Jan. 1, 2005 through June 30, 2013 – data pulled on July 13, 2013. 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.
Expect Results:
Your Real Estate Market Report is provided by Justin Donaton of Coastwalk Real Estate. Any data provided, unless otherwise noted, is courtesy of the Wilmington Association of REALTORS MLS and/or the National Association of REALTORS.
Justin does not just "list" properties, he sells them! To get your home SOLD for the highest possible price, call Justin at 910-352-0998. Justin has SOLD the most real estate on Pleasure Island every year since 2007.
He has the highest dollar volume of sales, and has had the most number of closings. His business is built on hard work and high-impact marketing. Coastwalk Real Estate is the #1 Sales office on Pleasure Island. Please visit:  www.CoastwalkRealEstate.com for more info.