The market in Wilmington, North Carolina remains relatively stable. The average list price as of December 1, 2010 was $362,224 with the median sales price of $175,000. This represents an increase in sales price from the previous year of 1.7%. There are currently 3,288 homes for sale with 688 of them being foreclosures.
We have found that foreclosures and some short sales are being priced very closely to the bank’s bottom line and have had several clients in the past few weeks miss opportunities to purchase one when they waited too long to make an offer. We’ve also had some clients lose deals lately because of their belief that placing a “low ball” bid is the best strategy. In the current market, people with cash are keeping an eye on foreclosures in the coastal areas such as Wilmington and Carolina Beach because they know there is value in water-oriented properties.
Although the winter season is considered “slow” in our area, there will still be deals available as sellers who have to sell place their homes on the market. If you are interested in all the local MLS listings you may want to try this Wilmington NC Homes website for daily updates or sign-up for automatic email alerts.