The quarterly zip code analysis from the Wilmington Regional Association of Realtors is worth taking a look at if you're selling real estate in the Wilmington area.

When analyzing six major zip codes in our region – 28403, 28405, 28409, 28411, 28412 and 28451 – an average of the zip codes for the third quarter of 2012 shows that:

  • Our average sales price has decreased by .02% from Year End 2011.
  • Of the 884 sellers in 3rd Quarter – 32.92% paid some sort of concession toward the purchase of the house, down from 32.96% from Year End 2011.
  • Our list to sales price ratio for 3rd Quarter is 95.46%, an increase from 94.61% for Year End 2011.
  • The average list price of the sold properties is $240,795 and is down 1.1% from Year End 2011.
  • The average number of days a property remained on the market for 3rd Quarter was 124 days, compared to 147 days for Year End 2011.
  • The median sold price of $175,000 for 3rd Quarter has decreased 1.4% from Year End 2011.

The areas of focus in this analysis were:

  • Selling Price – The price the seller accepts for his or her house.
  • Sellers Concessions – The amount of money a seller of a house contributes toward the buyers purchase.
  • List to Sales Price Ratio – The difference between the list price and the selling price shown as a percentage.
  • Days on Market – The number of days a house remains for sale, from the listing date to the date the property is placed under contract.
  • List Price – The amount of money a home is listed on the market.
  • Median Price – The middle price of all the properties sold in the given time period.


28403 Zip Code

  • The average selling price of $233,795 has increased 15.8% from Year End 2011 average selling price of $201,953. The best of all Zip Codes.
  • 21% of sellers paid a concession compared to 26% in Year End 2011.
  • The average list price of $245,574 for 3rd Quarter has increased 12.4% from Year End 2011 average list price of $218,492. The best of all Zip Codes.
  • The average number of days a property remained on the market for 3rd Quarter was 162 days, compared to 168 days for Year End 2011.
  • The median sold price of $172,500 for 3rd Quarter has increased 11.3% from Year End 2011. The best of all Zip Codes.
  • Sold homes in the 3rd Quarter received 95.20% of the asking price, an increase from 92.43% for Year End 2011.

 

28405 Zip Code

  • The average selling price of $258,408 has decreased 1.9% from Year End 2011 average selling price of $263,461.
  • 27% of sellers in 3rd Quarter paid a concession compared to 28% for Year End 2011.
  • The average list price of $275,215 for 3rd Quarter has decreased 2.8% from Year End 2011 average list price of $283,251.
  • The average number of days a property remained on the market for 3rd Quarter was 143 days, compared to 181 days for Year End 2011.
  • The median sold price of $174,450 for 3rd Quarter has increased 5.7% from Year End 2011.
  • Sold homes in 3rd Quarter received 93.89% of the asking price, an increase from 93.01% for Year End 2011.

 

28409 Zip Code

  • The average selling price of $230,901 has decreased 13.2% from Year End 2011 average selling price of $266,151.
  • 41% of sellers in 3rd Quarter paid a concession compared to 33% in Year End 2011.
  • The average list price of $237,107 for 3rd Quarter has decreased 15.9% over Year End 2011 average list price of $281,854.
  • The average number of days a property remained on the market for 3rd Quarter was 103 days, compared to 148 days for Year End 2011.
  • The median sold price of $201,565 for 3rd Quarter has decreased 10.4% from Year End 2011.
  • Sold homes in 3rd Quarter received 97.38% of the asking price, an increase from 94.43% from Year End 2011.

 

28411 Zip Code

  • The average selling price of $285,455 has increased 3.4% from Year End 2011 average selling price of $275,947.
  • 45% of sellers in 3rd Quarter paid a concession compared to 39% in Year End 2011.
  • The average list price of $305,585 for 3rd Quarter has increased 4.3% over Year End 2011 average list price of $292,851.
  • The average number of days a property remained on the market for 3rd Quarter was 101 days, compared to 146 days for Year End 2011. The best of all Zip Codes.
  • The median sold price of $199,250 for 3rd Quarter has decreased 5.8% from Year End 2011.
  • Sold homes in 3rd Quarter received 93.41% of the asking price, a decrease from 94.23% for Year End 2011.

 

28412 Zip Code

  • The average selling price of $176,067 has increased .02% over Year End 2011 average selling price of $175,633.
  • 26% of sellers in 3rd Quarter paid a concession compared to 35% in Year End 2011. The best of all Zip Codes.
  • The average list price of $182,758 for 3rd Quarter has decreased .01% over Year End 2011 average list price of $182,887.
  • The average number of days a property remained on the market for 3rd Quarter was 108 days, compared to 143 days for Year End 2011.
  • The median sold price of $145,000 for 3rd Quarter has decreased 3.8% from Year End 2011.
  • Sold homes in 3rd Quarter received 96.34% of the asking price, an increase from 96.03% for Year End 2011.

 

28451 Zip Code

  • The average selling price of $188,555 has decreased 7.3% from Year End 2011 average selling price of $203,436.
  • 31% of sellers in 3rd Quarter paid a concession compared to 32% in Year End 2011.
  • The average list price of $191,217 for 3rd Quarter has increased 8.6% over Year End 2011 average list price of $209,184.
  • The average number of days a property remained on the market for 3rd Quarter was 146 days, compared to 127 days for Year End 2011.
  • The median sold price of $164,880 for 3rd Quarter has decreased 5.2% from Year End 2011.
  • Sold homes in 3rd Quarter received 98.61% of the asking price, an increase from 97.25% for Year End 2011. The best of all Zip Codes.

According to a news release from the Wilmington Regional Association of REALTORS®, we continue on our path to recovery. Three out of six zip codes reported an increase in the average sales price and four zip codes have the List to Sales price ratio above 95%. A good sign that real estate is recovering is that clients are getting closer to their asking price. All six zip codes reported fewer days on the market by an average of 23 days.

An Analysis of information from the Wilmington Regional Association of REALTORS® Incorporated, for the period Jan. 1, 2005 through September 30, 2012 – data pulled on October 12, 2012. Average sold numbers for specific neighborhoods within each zip code can be higher or lower than these stated averages. It is highly recommend that you consult a REALTOR® to determine how these numbers specifically relate to your neighborhood. Local MLS data is the most accurate source of sales and price information in specific areas, although there may be differences in reporting methodology.