The Long & Foster Market Minute

Focus On: City of Wilmington Housing Market June 2018

Zip Code(s): 19805, 19802, 19801 and 19806
Units Sold
171
Active Inventory
403
Median Sale Price
$154,000
Days On Market
57
Up 25%
Vs. Year Ago
Down -26%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -14%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 171 sold this month in City of Wilmington Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 139 units or 26%. The total number of active inventory this June was 403 compared to 542 in June 2017. This month's total of 403 is lower than the previous month's total supply of available inventory of 415, a decrease of 3%.

Median Sale Price
Last June, the median sale price for City of Wilmington Homes was $135,000. This June, the median sale price was $154,000, an increase of 14% or $19,000 compared to last year. The current median sold price is 19% higher than in May.

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


New Listings
176
Current Contracts
125
Sold Vs. List Price
97.7%
Months of Supply
2.4
Down -7%
Vs. Year Ago
Up 9%
Vs. Year Ago
No Change
Vs. Year Ago
Down -33%
Vs. Year Ago

Months of Supply
In June, there was 2.4 months of supply available in City of Wilmington, compared to 4.0 in June 2017. That is a decrease of 40% 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.

New Listings & Current Contracts
This month there were 176 homes newly listed for sale in City of Wilmington compared to 190 in June 2017, a decrease of 7%. There were 125 current contracts pending sale this June compared to 115 a year ago. The number of current contracts is 9% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in City of Wilmington was 97.7% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 57, lower than the average last year, which was 66, a decrease of 14%.

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.