The Long & Foster Market Minute

Focus On: City of Wilmington Housing Market July 2018

Zip Code(s): 19805, 19802, 19801 and 19806
Units Sold
126
Active Inventory
408
Median Sale Price
$138,500
Days On Market
51
Up 10%
Vs. Year Ago
Down -16%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -16%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 126 sold this month in City of Wilmington Real Estate versus 178 last month, a decrease of 29%. This month's total units sold was higher than at this time last year, an increase of 10% versus July 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 78 units or 16%. The total number of active inventory this July was 408 compared to 486 in July 2017. This month's supply remained stable as compared to last month.

Median Sale Price
Last July, the median sale price for City of Wilmington Homes was $140,000. This July, the median sale price was $138,500, a decrease of 1% or $1,500 compared to last year. The current median sold price is 9% lower than in June.

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


New Listings
162
Current Contracts
112
Sold Vs. List Price
97.0%
Months of Supply
3.2
Up 31%
Vs. Year Ago
Down -7%
Vs. Year Ago
No Change
Vs. Year Ago
Down -23%
Vs. Year Ago

Months of Supply
In July, there was 3.2 months of supply available in City of Wilmington, compared to 4.2 in July 2017. That is a decrease of 23% 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 162 homes newly listed for sale in City of Wilmington compared to 124 in July 2017, an increase of 31%. There were 112 current contracts pending sale this July compared to 121 a year ago. The number of current contracts is 7% lower than last July.

Sale Price to List Price Ratio
In July, 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 51, lower than the average last year, which was 61, a decrease of 16%.

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.