2014 Market Performance

The question we hear most often is, “How’s the market?”  Since everyone seems to have at least a mild interest in the answer, we thought we would share some of the most relevant stats for the greater Wilmington area (which includes Leland, Wrightsville Beach, Carolina Beach, Kure Beach, and Hampstead.)

As you can see from the chart below, both 2013 and 2014 saw substantial improvements in the local real estate market.  A total of 6,544 properties sold in 2014 (up 3.96% from 6,295 in 2013.)  The average sales price for a home was $240,525 in 2014 (up 3.85% from $231,616 in 2013.)

More than $1.58 billion (yes, Billion!) of real estate sold in this area last year.  That’s 8.25% more than 2013 when an impressive $1.46 billion sold.

On average, it took a little more than four months (126 days) for a home to sell in 2014.  That’s the same as 2013, but 11.8% less time than it took in 2012.

If you are interested, a JFBR broker can break these numbers out for a particular neighborhood.  The market tracking tools we use make it quick and easy, so don’t hesitate to let us know if you’d like to see more targeted numbers from a specific part of town.

Indicators 2014 Total 2014 Vs. 2013 2013 Total 2013 vs. 2012
Units Sold 6544 +3.96% 6295 +11.20%
Avg. Sales Price $240,525 +3.85% $231,616 +5.50%
Med. Sales Price $196,879 +6.97% $184,050 +5.50%
Total Dollars $1,585,013,158 +8.25% $1,464,181,661 +17.50%
Days on Market 126 0 126 -11.80%

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