The Long & Foster Market Minute

Focus On: City of Wilmington Housing Market May 2018

Zip Code(s): 19805, 19802, 19801 and 19806
Units Sold
114
Active Inventory
412
Median Sale Price
$128,400
Days On Market
63
Up 8%
Vs. Year Ago
Down -23%
Vs. Year Ago
Down -11%
Vs. Year Ago
Down -5%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 114 sold this month in City of Wilmington Real Estate versus 94 last month, an increase of 21%. This month's total units sold was higher than at this time last year, an increase of 8% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 123 units or 23%. The total number of active inventory this May was 412 compared to 535 in May 2017. This month's total of 412 is higher than the previous month's total supply of available inventory of 398, an increase of 4%.

Median Sale Price
Last May, the median sale price for City of Wilmington Homes was $145,000. This May, the median sale price was $128,400, a decrease of 11% or $16,600 compared to last year. The current median sold price is 5% lower than in April.

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


New Listings
216
Current Contracts
144
Sold Vs. List Price
96.9%
Months of Supply
3.6
Up 28%
Vs. Year Ago
Up 25%
Vs. Year Ago
Down -1.1%
Vs. Year Ago
Down -29%
Vs. Year Ago

Months of Supply
In May, there was 3.6 months of supply available in City of Wilmington, compared to 5.0 in May 2017. That is a decrease of 28% 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 216 homes newly listed for sale in City of Wilmington compared to 169 in May 2017, an increase of 28%. There were 144 current contracts pending sale this May compared to 115 a year ago. The number of current contracts is 25% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in City of Wilmington was 96.9% of the average list price, which is 1.1% lower than at this time last year.

Days on Market
This month, the average number of days on market was 63, lower than the average last year, which was 66, a decrease of 5%.

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.