As we start to head into the busy season for the real estate market in 2019, we wanted to share some thoughts and observations on what we are seeing in the local real estate market after the 1st Quarter:
Observations for both Buyers and Sellers in the Market Today =
If you’re a seller:
- The average days on market is less than 80 days
- Multiple offers, so you get to dictate terms
- Less inventory which means less competition
If you’re a buyer:
- Interest rates have fallen from a year end 2018 average of 5% to now an average of just below 4%, so now is the time to lock in and take advantage of historically low interest rates
- New home inventory options are available. Particularly popular options are new construction being built outside the city limits of Wilmington; such as Castle Hayne, Leland, and Hampstead.
Do you have questions about the real estate market? Contact one of our real estate experts today at 910-256-0021.