If you’ve been holding off on house hunting in New Hanover County, here’s some encouraging news: prices are starting to slide—at least compared to last year.
According to data from Realtor.com, the median list price for a home in New Hanover County this June was $561,450, which is down from $571,400 in June 2024. That’s a clear sign that the red-hot market might finally be cooling off a bit.
The homes listed last month were typically around 1,926 square feet in size, with a cost of $292 per square foot—a 1.2% drop in price per square foot over the past year.
Homes are also sitting on the market a bit longer, with the median time on the market hitting 64 days. That’s a full 10 days longer than what we saw just a year ago, suggesting that buyers may now have a little more breathing room to make decisions.
In total, 388 homes were listed in June, which is an 11% decline from the number of new listings in June 2024. Fewer listings and longer times on market could mean more opportunity for buyers to negotiate.
It’s worth noting that these figures are based on homes actively listed for sale—so they don’t include sales that are pending, contingent, or newly built. Still, this snapshot offers a valuable look into current trends.
For those keeping an eye on the broader Wilmington metro area, median home prices also dipped to $499,900, with homes averaging about 1,914 square feet and listing at $255 per square foot.
Bottom line: if you’re thinking about buying, this could be your moment. With prices trending downward and homes staying on the market longer, the tide may be turning in favor of buyers.