Home prices are down and inventory is up in Wilmington in September, according to the latest data from Realtor.com
- M-O-M: The median listing price fell to $500,000 in November, down 3.8% from September and the lowest price since April 2022.
- Y-O-Y: The median listing price was down 4.8% when compared to the same time last year.
Listings. Active listings skyrocketed to 1,110 in November, up 22.5% from August and the highest level since September 2020.
- Pending listings, however, are not trending in the right direction with listings falling 640 in November, down 7.9% from August and the lowest level in the last seven years.
- Days on market rose to 51 in November, up 4.1% from October but down 5.9% from one year ago.
Slight Cooling. Wilmington’s hotness housing market ranking saw a slight improvement to 120th place in September, a slight improvement from October’s (123) ranking and is still the third highest ranking in the last nine months
- The Supply score jumped to 47.8 in November, Up 12.5% from October and the highest level since March 2022.
- The demand score fell to 64.9 in November, down 5.7% from October and the lowest level since May 2021.