Area home sales still strong, but luxury homes sit on market

WILMINGTON, NC (WWAY) — Overall home sales continue to climb in the Wilmington area.

The Wilmington Regional Association of Realtors (WRAR) reports total units sold increased more than 20 percent in January through May compared to the same period in 2015. The median sales price also rose 3.62 percent during that time, while days on market have decreased almost 14 percent.

Home sales in may were up 18.82 percent compared to a year earlier. The average sales price in May was up 4 percent to $260,104. Home sold in May took on average 20 days fewer to sell than homes that sold in May 2015.

WRAR says New Hanover County homes prices $280,000 and below show the most active sales. The market for luxury homes, priced at $1 million or more, though, are not selling nearly as well. WRAR says there’s 20-month supply of the high-end houses. The group also says there was a slight downtick in total sales from April to May of this year.