February Market Report - Wilmington NC and Wrightsville Beach

General Observations:

February is here, and at Coastwalk Real Estate we’re SO EXCITED at the activity we are seeing.

Buyers and Sellers are rolling up their sleeves and finding ways to make deals happen. With interest rates low (and forecasted to stay low), diminished inventory and prices still considerably below their peaks, buyers have decided its time to make the move!

At the beach we have clients buying primary, secondary and retirement homes.

We also have families from Wilmington who have decided to relocate to the beach.

In Wilmington, we have a lot of “move-up” buyers who are taking advantage of the lower prices and looking to buy a larger homes. One of my clients just placed PENDING and amazing home off Greenville Loop Rd…I can’t believe the deal we were able to put together!

For the month of January, Carolina and Kure Beach had 24 sales (20 homes/condos; 4 home sites).

But check this out….currently on the island there are 73 properties that are either PENDING, or CONTINGENT. This is a sign of progress!

For all of New Hanover County, there are over 625 properties PENDING or CONTINGENT. This is an amount greater than that of last year.

New Hanover County has seen 175 sales year-to date, compared to 171 last year at this time.

So what does it take to get a home SOLD in this market? 1) Your home should be priced to reflect current comps. There are many variables, so it’s crucial to have an experienced agent on your side. 2) Your home should be in good showing condition, both inside and out. 3) You need maximum, high impact marketing that generates buyer leads for your home. For additional tips and resources, please visit my website at www.MyCoastwalk.com