New data shows housing market in Wilmington shows slight changes

WILMINGTON, NC (WWAY) — There have been plenty of homes for sale across southeastern part of North Carolina for the past year.

New data suggests that while some parts of the state are seeing home prices drop, that’s doesn’t appear to be the case in our area.

“Sometimes these houses are getting two, three, four, five, six offers, still prices are still going up. They’re not going up as fast as they were, but they’re still going up so the market’s strong,” said Ashley Garner with Intracoastal Reality.

When asked why Wilmington is such a hot spot to live, Garner says its simple.

“I think the bottom line is Wilmington is such a special place to live. The weather’s fabulous, the cost of living is relatively low. Relative to some other places in the country where people are moving from. A lot of people are paying cash here, so even though interest rates are up, it doesn’t bother them cause they’re paying cash,” said Garner.

According to the report from Rocket Homes, the median selling price for homes in Wilmington is a little over $377,000, that’s up 20% from February of 2022.

Of the 200 hundred homes sold in Wilmington, 115 of those were sold under asking, with 43 being sold at asking price. The average sale time from February ’22 to ’23, going from 23 days to 36 days.

“If you are considering selling your home, it’s a great time in that regard, because there are lots of people who like to buy it. However, they’re a little more sensitive now to price and condition. It’s not like it was 18 months ago, where you just throw a sign in the yard and people would buy anything,” Garner explained.

Statistics also show that in February of 2023, 732 homes were listed for sale in Wilmington.

The report from Rocket Homes can be found here.

Wilmington, North Carolina Housing Market Report February 2023 – RocketHomes