real estate trends in the wilmington area

Wilmington, North Carolina is a beautiful city with so much to offer both the tourist and the residents. The housing market in Wilmington is on the rise and the communities are growing in the number of residents and houses being constructed. There are even neighborhoods that are being revitalized to bring historic and lovely older homes back to life. If you are looking for a new place to call home, consider Wilmington, North Carolina your next place of residency!

About the Area

Wilmington, North Carolina has so much to offer and anyone can find something that meets what they are looking for. The city of Wilmington is a picturesque town set alongside the Atlantic Ocean. Wilmington boasts picturesque beaches and stunning views of the ocean among the ships and boats stationed at its ports. The city and surrounding areas also have some of the most elite golf courses in the country and lovely parks and communities. Wilmington is also economically sound due to its position as a port for receiving and distributing goods.

Housing Market

The Wilmington housing market offers a price range and style that anyone can afford. The average housing price in the area is approximately $350,000, which is surprisingly affordable considering its location and reputation as an elite beach destination. The average home will actually sell for approximately $230,000 according to statistics. The difference between the value of the homes in comparison to what they are going for makes Wilmington prime real estate for buyers. Buyers can often negotiate a great deal with sellers for this reason. Data also states that the real estate prices in Wilmington will rise approximately 2% in the next year.

Rental Properties a Growing Trend

While the real estate market is booming, it seems as though the rental market is not far behind. Because there are more homes for sale than buyers in Wilmington, and with the fact that it is a top tourist destination, Wilmington is a great place to own a rental property. There are also fewer homes and apartments for rent in Wilmington than typical vacation rentals, and renting actual homes and apartments is a growing trend among vacationers. The average rental price in Wilmington is approximately $1,300.

If you are ready to make Wilmington, North Carolina your home, check out the community at Porters Neck for the best properties and values in town.

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