The Long & Foster Market Minute

Focus On: City of Wilmington Housing Market April 2022

Zip Code(s): 19805, 19802, 19801 and 19806
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -19%
Vs. Year Ago
Down -43%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -45%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 129 sold this month in City of Wilmington Real Estate versus 170 last month, a decrease of 24%. This month's total units sold was lower than at this time last year, a decrease of 19% versus April 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 70 units or 43%. The total number of active inventory this April was 93 compared to 163 in April 2021. This month's total of 93 is lower than the previous month's total supply of available inventory of 104, a decrease of 11%.

Median Sale Price
Last April, the median sale price for City of Wilmington Homes was $180,000. This April, the median sale price was $204,950, an increase of 14% or $24,950 compared to last year. The current median sold price is 8% higher than in March.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -9%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 2.3%
Vs. Year Ago
Down -30%
Vs. Year Ago

Months of Supply
In April, there was 0.7 months of supply available in City of Wilmington, compared to 1.0 in April 2021. That is a decrease of 30% 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 164 homes newly listed for sale in City of Wilmington compared to 181 in April 2021, a decrease of 9%. There were 149 current contracts pending sale this April compared to 145 a year ago. The number of current contracts is 3% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in City of Wilmington was 101.0% of the average list price, which is 2.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 17, lower than the average last year, which was 31, a decrease of 45%.

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.