Well everyone, I have some good news and I have some bad news about the Wilmington, NC realty area market. Bad news first.
It is currently taking homes an avg. of 132 days to sell, as opposed to 121 days between July and Aug. But the good news is that on avg, homes are selling for 2% more. This market continues to teeter back and forth. It is this uncertainty that is keeping prices as low as they are. That is good news for buyers, but bad news for sellers.
More good news is that many “baby boomers” from the north are retiring to the Wilmington, NC Realty area, and their money goes a long way in the south. This can be attributed to our relatively mild climate. As the “new retirement town”, we are not too cold and not too hot. Just this fact alone gives our area the potential for a strong comeback.
So you see, we do have a lot to be optimistic about, and that is the best news of all.