Michelle Gurrera Blog

Luxury home sales nearly double in October; overall market hits 10-year high

Posted: November 18, 2015 by Michelle Gurrera

Market strengthens; see an excerpt below or click on the link for the full report posted by the Wilmington Business Journal.

The housing market in general continues to thrive in the Wilmington area, according to statistics released this week, with the number of homes sold in October hitting its highest level in 10 years.

The Wilmington Regional Association of Realtors database of MLS numbers show that buyers purchased 637 homes in October, 75 more than the same period last year and the largest number for the month of October since 2005, when 685 single-family units sold.

The average sale price rose a small percentage to $257,201 last month, while the median price fell close to 5 percent, dropping from $207,200 in October 2014 to $197,500 last month, according to WRAR's multiple listing service data, which covers New Hanover, Pender and northern Brunswick counties. The total dollar amount from sales increased by nearly $20 million in October this year compared to the same month last year.


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