The Wilmington MSA housing market continues to evolve, with notable shifts in inventory and pricing trends. Active listings surged by 36% year-over-year, reaching 3,452 by the end of October—a modest 0.8% increase from September. Homes are staying on the market longer, with the average cumulative days on market climbing 40% year-over-year to 63 days, a 6.8% increase from the previous month.
The median sale price edged up to $410,000 in October, reflecting a 1.5% increase from September and a 2% increase from the same time last year. Inventory supply grew to 3.7 months, marking a 37% increase compared to October 2023.
New listings rose by 14.8% month-over-month to 1,253, while pending sales increased by 4% to 991. Closed sales also showed a slight uptick, increasing by 1.6% to 933.
CFR President Amanda Parmer notes the market is still favoring sellers but signals a gradual shift toward neutrality. Buyers may find more room for negotiation in the coming months, while sellers should remain responsive to market feedback to avoid prolonged listings.
