Homes are still selling in Wilmington. Several of my listings have received multiple offers before going under contract, proof that there is still plenty of activity. Prices are still rising in the Wilmington market and demand continues to be strong.
We have a larger inventory of homes than we have seen in months, to the advantage of the buyers. They can look around and pick the house they really want instead of making an offer on the house they find before someone else gets it under contract.
Of course we have plenty of homes that are clearly overpriced, but they are falling out of the running as time passes. The overpriced inventory struggles because few buyers want to look at homes that are priced higher than similar houses in the same neighborhood. Eventually the prices of these homes will fall in line with comparable properties or come off the market.
Although the market is going through an adjustment which seems to follow the reports on national television, the Wilmington market continues to be strong in many ways. As the demands on the Brokers become greater, we will have to work a little harder and focus on the basics of advertising, personal customer service, and being honest with buyers and sellers. While a lot of Brokers over promise and under deliver, the best agents will under promise and over deliver while meeting our clients’ needs. If we’re honest with people and help our clients meet their goals we will continue to have a great real estate market. We have inventory in all areas, price ranges and sizes.
Until they make more Southeastern NC beaches real estate will continue to be a great investment in Wilmington.