2020 Wilmington Mid-Year Market Report

HOW’S THE MARKET?

At the end of June (“halftime,” as we call it around the offices), we pour through the sales data, look back at our goals, and check how we’ve made our predictions for the first half of the year. As we launch into the second half of the year, we know that we exceeded our goals despite the external circumstances that impacted our local markets.

We present you with our 2020 Wilmington Mid Year Market Report

Compared to the same period in 2019, available homes for sale in the Wilmington area dropped 7% while the sales activity year over year remained relatively unchanged. With the drop in home inventory, buyers often find themselves in multiple offer situations. Overall, these market conditions have led to a 5% uptick in home prices. The key to navigating this competitive market, whether buying or selling, is having a proactive team on your side. Please reach out to Jessica or Rebecca with any questions or details on how to start your home buying or selling journey. We’re here to help!