WILMINGTON, NC (WWAY)–Businesses across the Cape Fear have been hit hard by the coronavirus, but it doesn’t seem to have impacted the real estate industry. Many of the local realty groups are reporting an all-time high in sales over the past four months.
“We have seen record breaking sales,”says Intracoastal Realty Broker Ashley Garner. “In other words just to put it simply, we’re busier than we’ve ever been, ever!”
Professionals in the real estate industry say August may have been their largest month of sales ever. Brandon Fresia a realtor at Keller Williams in Wilmington says the turn around from March to now is unheard of. The demand for homes is by far outweighing the supply of available properties headed into September.
“It just started exploding where people are coming in and making multiple offers,”says Fresia.”The multiple listing system across New Hanover County is just decreasing and decreasing each month. So, it’s definitely a sellers market right now.”
Realtors across the area don’t see the uptick in business slowing down anytime soon. Ashley Garner who is a broker with Intracoastal Realty says over the past month some houses are being put under contract before a listing has even been posted.
“Any house that comes to the market for sale as long as it’s priced right and in great condition it’s going to sell quickly,”Garner says. “That happens sometimes even before the sign goes in the ground so to speak. So, we don’t see this slowing down any with the interest rates staying low and the demand still appears to be very strong.”
New Hanover County and Wilmington continues to grow. It is becoming a place more and more people are wanting to live, which in turn brings down the number of available homes in a highly demanded market.
AND AS THE YEARS GO ON..NEW HANOVER COUNTY CONTINUES TO GROW..BECOMING A PLACE MORE AND MORE PEOPLE ARE WANTING TO LIVE, WHICH IN TURN BRINGS DOWN THE NUMBER OF AVAILABLE HOMES IN A HIGHLY DEMANDED MARKET.
“Wilmington and New Hanover County are definitely increasing in popularity,”says Fresia. “We’re seeing the effects of that right now. We just need to get some more inventory out there for the buyers that we have.”