The Long & Foster Market Minute

Focus On: City of Wilmington Housing Market June 2021

Zip Code(s): 19805, 19802, 19801 and 19806
Units Sold
145
Active Inventory
189
Median Sale Price
$179,900
Days On Market
21
Up
Vs. Year Ago
Down -15%
Vs. Year Ago
Down -8%
Vs. Year Ago
Down -46%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 145 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 33 units or 15%. The total number of active inventory this June was 189 compared to 222 in June 2020. This month's total of 189 is higher than the previous month's total supply of available inventory of 166, an increase of 14%.

Median Sale Price
Last June, the median sale price for City of Wilmington Homes was $195,000. This June, the median sale price was $179,900, a decrease of 8% or $15,100 compared to last year. The current median sold price is 13% lower 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
211
Current Contracts
156
Sold Vs. List Price
100.0%
Months of Supply
1.3
Up 43%
Vs. Year Ago
Up 10%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
Down -46%
Vs. Year Ago

Months of Supply
In June, there was 1.3 months of supply available in City of Wilmington, compared to 2.4 in June 2020. That is a decrease of 45% 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 211 homes newly listed for sale in City of Wilmington compared to 148 in June 2020, an increase of 43%. There were 156 current contracts pending sale this June compared to 142 a year ago. The number of current contracts is 10% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in City of Wilmington was 100.0% of the average list price, which is 0.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 21, lower than the average last year, which was 39, a decrease of 46%.

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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.