The Long & Foster Market Minute

Focus On: City of Wilmington Housing Market March 2021

Zip Code(s): 19805, 19802, 19801 and 19806
Units Sold
124
Active Inventory
112
Median Sale Price
$170,450
Days On Market
52
Down -1%
Vs. Year Ago
Down -62%
Vs. Year Ago
Up 21%
Vs. Year Ago
Down -19%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 124 sold this month in City of Wilmington Real Estate versus 115 last month, an increase of 8%. This month's total units sold was lower than at this time last year, a decrease of 1% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 181 units or 62%. The total number of active inventory this March was 112 compared to 293 in March 2020. This month's total of 112 is lower than the previous month's total supply of available inventory of 165, a decrease of 32%.

Median Sale Price
Last March, the median sale price for City of Wilmington Homes was $141,368. This March, the median sale price was $170,450, an increase of 21% or $29,082 compared to last year. The current median sold price is 2% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
161
Current Contracts
188
Sold Vs. List Price
100.0%
Months of Supply
0.9
Up 3%
Vs. Year Ago
Up 52%
Vs. Year Ago
Up 3.1%
Vs. Year Ago
Down -62%
Vs. Year Ago

Months of Supply
In March, there was 0.9 months of supply available in City of Wilmington, compared to 2.3 in March 2020. That is a decrease of 61% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 161 homes newly listed for sale in City of Wilmington compared to 157 in March 2020, an increase of 3%. There were 188 current contracts pending sale this March compared to 124 a year ago. The number of current contracts is 52% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in City of Wilmington was 100.0% of the average list price, which is 3.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 52, lower than the average last year, which was 64, a decrease of 19%.

The Long & Foster Market Minute City of Wilmington are defined as properties listed in zip code/s 19805, 19802, 19801 and 19806.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.