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Back You are here: Home News Local and State News Real Estate Market Sales Weekly Real Estate Market Report for May 2, 2012

Weekly Real Estate Market Report for May 2, 2012

I hope you are having a great day! In this week’s report, I wanted to share some recent sales information with you….so here we go!
Through April 25th, 2012, there have been 828 homes (including condos) that have SOLD in New Hanover County this year, this compares to 689 for the sale period in 2011.
Of the  828 homes, 642 of these are single family houses. This compares to 525 in 2011.
The average selling price for these single family homes in 2012 is $252,013, compared to $259,472 in 2011.
The average selling “price per square foot” for houses in New Hanover County is $115 in 2012, compared to $124 for the same period in 2011.
The average  “days on market” for houses that SOLD in New Hanover County is 166 in 2012, compared to 140 days for the same period in 2011.
So what does this mean?
The activity is strong and the total number of sales have increases year over year. That said, prices have fallen a bit, and the “day on market” has increased.
From a less analytical perspective, I am noticing well priced homes (that are in good condition) are receiving lots of attention, and often are SOLD within 90 days of being listed. Homes that are not priced correctly will linger on the market.
With regards to the sale of home sites and land, in 2012 there have been 86 land sales, compared to 69 in 2011. Several of these have been ocean front and on the water way.
The most expensive home to have SOLD this year (so far) was in Wrightsville Beach at $3,150,000. Year-to-date. there have been 10 homes in New Hanover County that have SOLD for more  than $1,000,000.
Thanks for reading, and have a terrific week!
Expect Results:
Your Real Estate Market Report is provided by Justin Donaton of Coastwalk Real Estate. Local data provided is courtesy of the Wilmington Association of REALTORS MLS. 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 been the #1 Agent on Pleasure Island since 2006. 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. Please visit:  www.CoastwalkRealEstate.com for more info.
The Weekly Real Estate Market Report is a Paid Advertisement Compliments of Coastwalk Real Estate.