The Long & Foster Market Minute

Focus On: City of Wilmington Housing Market March 2018

Zip Code(s): 19805, 19802, 19801 and 19806
Units Sold
100
Active Inventory
401
Median Sale Price
$144,000
Days On Market
77
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -17%
Vs. Year Ago
Down -23%
Vs. Year Ago
Up 15%
Vs. Year Ago
Down -13%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 100 sold this month in City of Wilmington Real Estate versus 82 last month, an increase of 22%. This month's total units sold was lower than at this time last year, a decrease of 17% versus March 2017.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 122 units or 23%. The total number of active inventory this March was 401 compared to 523 in March 2017. This month's total of 401 is lower than the previous month's total supply of available inventory of 413, a decrease of 3%.

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Median Sale Price
Last March, the median sale price for City of Wilmington Homes was $125,000. This March, the median sale price was $144,000, an increase of $19,000 compared to last year. The current median sold price is higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

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New Listings
146
Current Contracts
114
Sold Vs. List Price
97.0%
Months of Supply
4.0
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -29%
Vs. Year Ago
Down -10%
Vs. Year Ago
Up 1.3%
Vs. Year Ago
Down -8%
Vs. Year Ago

Months of Supply
In March, there was 4.0 months of supply available in City of Wilmington, compared to 4.4 in March 2017. That is a decrease of 8% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

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New Listings & Current Contracts
This month there were 146 homes newly listed for sale in City of Wilmington compared to 205 in March 2017, a decrease of 29%. There were 114 current contracts pending sale this March compared to 126 a year ago. The number of current contracts is 10% lower than last March.

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Sale Price to List Price Ratio
In March, the average sale price in City of Wilmington was 97.0% of the average list price, which is 1.2% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 77, lower than the average last year, which was 89, a decrease of 13%.

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The Long & Foster Market Minute City of Wilmington are defined as properties listed in zip code/s 19805, 19802, 19801 and 19806.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by TREND and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of TREND or Long & Foster Real Estate, Inc.