How does the real estate market in Wilmington NC Compare across the nation? This video tells you all about it....
Real Estate Market in Wilmington NC
The real estate market in Wilmington NC stands out in the nation as its economy remains a pillar of stability amid disruption brought on by COVID-19. RE/MAX events have given us insight into how other areas are faring, with some experiencing significant fluctuations - but Wilmington thankfully has managed to remain steady. Despite an influx of new construction projects which currently aren't quite ready for showings yet, people continue to come and go in our exceptional city! Wilmington NC's real estate market has enjoyed strong support from newcomers and current residents alike. Despite reports of a shrinking inventory, there is still plenty of activity with new construction dotting the horizon - something people are eager to take advantage of! Unfortunately, fear about interest rates have caused numbers to dip slightly overall; however local agents like my team strive hard every day to provide clients accurate information that better prepares them for their journey into homeownership.
The significant shift in the real estate market in Wilmington NC, with 31% of sales stemming from new construction. Year-to-date sales have dropped 25%, yet prices continue to surge, rocketing 12.6% since last year - most prominently in the third and fourth quarters when stats began their rapid climb every day!
After being hit hard by the coronavirus pandemic, the real estate market in Wilmington NC is striving to regain its footing. As if we were all playing a game of catch-up with the rest of America, delays in materials and labor have hindered progress - however things are looking up! Thanks to an industry rallying effort, orders for windows that used to take around four months can now be fulfilled within weeks. Additionally more furniture than ever before is back on shelves: promising signs that better days lay ahead!
The real estate market in Wilmington NC is thriving and shows no signs of slowing down anytime soon. With a 1.9 month supply inventory rate, this means that the area remains firmly in sellers' territory - though if all goes as planned it could reach balance shortly with an ideal 4-month supply absorption rate! As loans return to normalcy too, homeowners will be able to benefit from both sides of the equation for increased success when buying or selling property in Wilmington NC.
Wilmington NC is the perfect destination for those looking to retire in style or work from anywhere. From beautiful beaches, superb weather and lower taxes than much of America - it's no wonder Wilmington has become a popular relocation spot! The city boasts an exciting mix of tourists alongside students attending UNCW – one of North Carolina’s top universities. Whether you're seeking relaxation by the ocean or access to quality education, come explore why this coastal gem appeals to people everywhere!
Now is a Great Time To Buy Real Estate in Wilmington NC
With interest rates on the rise, now is the perfect time to invest in a new home! Sounds weird, right? However, now competition is lower than it was 6 months ago, when you take a detailed dive into the real estate market in Wilmington NC. Buyers are more hesitant these days, leading to less competition when it comes time for bidding. Don't feel like you have to break your back trying get over-appraised value - market prices remain stable and buyers can snag their dream homes at great deals that won't leave them upside down financially. Now's as good of a chance as ever; take advantage while you still can!
Why is it Important to Use a Local Real Estate Professional?
Whether you're looking to buy or sell in the near future, it pays to be prepared. Contact your local real estate agent and work together on a plan that will give you maximum leverage when the time is right! We will help you navigate the waters when it comes to the real estate market in Wilmington NC. With great lenders at hand offering competitive government loans such as VA & FHA with assumable rates - alongside invaluable advice from both an experienced realtor and lender – now’s surely the perfect moment for making those important first moves into property ownership.
As Real Estate Professionals, we specialize in creative solutions tailored to our customers' needs, when interested in the real estate market in Wilmington NC. The same can be said for local lenders - often more so than the big box companies! People don't realize all of the fees that come with larger lender's products because they're drowned out by their flashy marketing campaigns. With a conversation-driven approach from your neighborhood lender, you'll get research-backed financial advice and access to custom lending programs suited just for you.
The real estate market in Wilmington NC, is thriving and looks to continue this trend in the near future. Thanks to a rallying industry effort, homeowners in Wilmington will soon be able to take advantage of increased success when buying or selling property here. The city has become a popular relocation spot because of its beautiful beaches, superb weather, and lower taxes than much of America. With interest rates on the rise, now is the perfect time buy real estate in Wilmington! As Real Estate Professionals, we specialize in creative solutions tailored to our customers' needs - so don't hesitate to reach out if you're considering making a move in the near future.