New Hanover County Real Estate Market Update – April 2025
As we move deeper into the spring selling season, the Wilmington-area real estate market is beginning to show signs of transition. For both buyers and sellers, understanding these shifting dynamics is key to making confident real estate decisions. Here’s what the latest data from April 2025 tells us about New Hanover County and the broader Wilmington MSA:
Inventory Continues to Climb
Active listings across the Wilmington MSA jumped to 3,914 in April — a 26.3% increase year-over-year and an 8.9% rise from March. New listings also rose, totaling 1,690 homes in April, up 2.9% month-over-month and 20.3% higher than last year.
This steady increase in inventory marks a notable shift from the low-supply environment we’ve seen over the past couple of years, giving buyers more options and encouraging a more balanced market.
Buyer Activity Is Mixed
Pending sales dipped slightly to 1,202, a 5.3% decline from March, indicating that while more homes are on the market, buyer urgency may be tapering off. However, closed sales increased 11.4% month-over-month, totaling 1,066 transactions for April — a 2.4% rise compared to last year.
Prices Stabilize
The median sales price held steady from March at $400,000, though this reflects a 3.6% decrease year-over-year. After several years of upward momentum, this consistency suggests price stabilization — a key sign that the market is adjusting to rising inventory and evolving buyer expectations.
Days on Market Are Up, But Trending Down Month-over-Month
Homes spent an average of 70 cumulative days on the market in April, which is 18.6% longer than this time last year, but 10.3% shorter than March. This indicates that while properties are generally taking longer to sell than in 2024, things are beginning to pick up again this spring.
What It Means for Buyers and Sellers
For buyers: The increase in listings and more time on market means you now have more negotiating power. Prices are no longer surging, and you may be able to secure better terms than in recent years. However, well-priced homes are still moving, so preparation is key.
For sellers: We're entering a more competitive landscape. The homes that are selling quickly are those that are strategically priced and marketed effectively. While it’s still a relatively strong market, buyers have more choices, and expectations have shifted.
Bottom Line
The New Hanover County and Wilmington MSA housing market is in a period of pivotal transition. Inventory is rising, prices are stabilizing, and buyers are regaining leverage. Sellers who adjust to this new reality by pricing competitively and working with experienced professionals are still well-positioned for success.
Whether you're buying, selling, or just exploring your options, working with a trusted local expert can help you navigate the opportunities and challenges of this evolving market.
Want a personalized update for your neighborhood or home? Reach out — I’d love to help you stay informed and ahead of the curve.