The Wilmington MSA housing market started 2025 with more homes and rising prices. Compared to January 2024, active listings increased by 18.2%, showing a continued trend of growing inventory.
Key Takeaways:
✅ More Homes on the Market: January ended with 3,215 active listings, a slight 4.4% decrease from December but still signaling strong inventory growth year-over-year. New listings surged by 66.1% from December and held steady with a 2.2% annual increase.
✅ Pending Sales on the Rise: Buyers remained active, with 923 pending sales, marking a 28.4% increase from December.
✅ Slower Closings: Closed sales dipped 26.9% from December but were nearly unchanged compared to January 2024, with just a 0.3% increase.
✅ Homes Taking Longer to Sell: The average days on market rose to 71 days, a 24.6% increase from last year.
✅ Price Trends: The median sales price saw a small 2.4% year-over-year decline, offering slight relief for buyers.
✅ More Balanced Inventory: The market now has 4.7 months of supply, the closest it’s been to a balanced market in some time.
Market Insights:
According to CFR President Brittany Allen, the influx of new inventory is a positive sign for buyers, even as closed sales slow—something typical for the season. “January saw an increase in available homes, and we expect a more balanced market in the coming months,” she says.
With strong inventory levels and a shift toward market stability, 2025 is shaping up to be an interesting year for Wilmington real estate. Stay tuned for more updates!
