The Long & Foster Market Minute

Focus On: City of Wilmington Housing Market September 2018

Zip Code(s): 19805, 19802, 19801 and 19806
Units Sold
100
Active Inventory
403
Median Sale Price
$124,950
Days On Market
49
Down -4%
Vs. Year Ago
Down -19%
Vs. Year Ago
Down -13%
Vs. Year Ago
Down -31%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 100 sold this month in City of Wilmington Real Estate versus 129 last month, a decrease of 22%. This month's total units sold was lower than at this time last year, a decrease of 4% versus September 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 95 units or 19%. The total number of active inventory this September was 403 compared to 498 in September 2017. This month's total of 403 is higher than the previous month's total supply of available inventory of 400, an increase of 1%.

Median Sale Price
Last September, the median sale price for City of Wilmington Homes was $143,170. This September, the median sale price was approximately the same at $124,950. The current median sold price is 13% lower than in September 2017.

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


New Listings
156
Current Contracts
101
Sold Vs. List Price
97.0%
Months of Supply
4.0
Down -1%
Vs. Year Ago
Up 11%
Vs. Year Ago
No Change
Vs. Year Ago
Down -16%
Vs. Year Ago

Months of Supply
In September, there was 4.0 months of supply available in City of Wilmington, compared to 4.8 in September 2017. That is a decrease of 16% 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 156 homes newly listed for sale in City of Wilmington compared to 158 in September 2017, a decrease of 1%. There were 101 current contracts pending sale this September compared to 91 a year ago. The number of current contracts is 11% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in City of Wilmington was 97.0% 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 49, lower than the average last year, which was 71, a decrease of 31%.

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.