The April 2024 housing statistics for the Wilmington Metropolitan Statistical Area (MSA) paint a picture of a buoyant and dynamic market. Here’s a quick overview of the key findings:
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Active Listings: The total number of active listings climbed to 2,954, with Brunswick County leading at 1,776, followed by New Hanover County with 849, and Pender County with 330. This represents a significant increase from the previous month.
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New Listings and Pending Sales: Despite the rise in active listings, new listings dropped to 1,400 and pending sales decreased to 1,162.
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Year-over-Year Changes: Compared to April 2023, active listings surged by 45.6%, and new listings grew by 22.5%. The median sales price increased by 5.1%, now at $415,000. Inventory supply also saw a year-over-year rise of 27.6%, reaching 2.87 months, indicating a continued Seller’s Market.
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Days on Market and Closed Sales: The average cumulative days on market went up by 15.7% year-over-year to 59 days but decreased by 6.3% compared to March 2024. Closed sales have been steadily increasing each month in 2024, hitting a high of 1,029 in April, a 14.3% rise from April 2023.
Expert Insights
Amanda Parmer, the 2024 CFR President, emphasizes the healthy fluctuations in market fundamentals, underscoring the importance of local REALTORS® in navigating these trends. She highlights that the market’s stability and adaptability are key to successful transactions.
“Cape Fear REALTORS® members are well equipped to guide a buyer or seller through the adaptability that our buoyant and thriving housing market requires,” says Parmer. “When looking to step into the demands of the housing market in the Cape Fear region, look for the R. That’s the REALTOR® difference.”
In summary, the Wilmington MSA housing market is thriving, with significant increases in active listings and sales prices, despite some fluctuations in new listings and pending sales.
