In the past decade, a renaissance has occurred in the Greater Wilmington area, reaffirming the storied history of the region when Wilmington was the largest city in North Carolina. People of all ages and backgrounds have been—and continue to be—drawn to the mild climate, beautiful shoreline, historic attractions, inviting business atmosphere and hometown feel of the Cape Fear Coast. The Greater Wilmington area routinely garners praise for its favorable business climate, exceptional arts and cultural scene, breadth of tourist attractions, prolific area residents, beautiful beaches...well, we could go on and on, but we'll let the accolades speak for themselves: Wilmington Ranks #13 in Forbes Magazine's "Best Places for Business and Careers" Coastal Living Magazine Names Wilmington a Coastal Dream Town
MovieMaker Magazine Names Cucalorus Film Festival One of 25 Coolest Triathlete Magazine Names Wilmington "Triathlete's Top 20 Best Places to Live", NC Holiday Flotilla Selected as Southeast Tourism Society Top 20 Event
Real Estate news this week in Wilmington does fall into the prediction of the national news this week. The news stated that homes’ buying was down this month nationally. According to Trulia the average price per square foot for Wilmington was $112, a decrease of 12.5% compared to the same period last year. The median sales price for homes in Wilmington NC for Feb 11 to Apr 11 was $166,500 based on 108 home sales. Compared to the same period one year ago, the median home sales price decreased 7.5%, or $13,500, and the number of home sales decreased 85.7%. There are currently 3,002 resale and new homes in Wilmington as well as 217 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Wilmington NC was $365,524 for the week ending May 23, which represents an increase of 0.6%, or $2,285, compared to the prior week.
One of Wilmington's greatest resources is its location nestled between the Cape Fear River and the Atlantic Ocean. It has an enduring relationship with the water that is interwoven through its history. Just as colonists relied on the water for transportation of goods to build the region, so does 21st -century Wilmington rely on it to attract visitors and businesses, and to import and export materials from and to the world through the N.C. State Ports. With that Wilmington offers a wide variety of jobs and with jobs come the need for housing. Is it the time to take advantage of low prices? With the trend of lower listing prices on homes it makes this the prime time to relocate here or buy for future investment purposes. All in all Wilmington still attracts people because of the location and that will not change. This makes Wilmington a sure investment and a great place to call home!