After two years the appreciation of 20 percent, the Wilmington NC real estate market took a breather in 2006 in Wilmington healthy help avoid the crash, felt by other markets such as Las Vegas and hyperactive Southwest Florida. Over the past 12 months, New Hanover County market moves from market sellers 'market to a buyers', "the envelope with more than 10 months of listing inventory available and create conditions for a stable 2007

Nationally, sales of existing homes are expectedIncrease gradually in 2007, according to the latest estimates from the National Association of Realtors ®. In Wilmington, NC, home sales are also expected to increase slightly as it approaches the spring and sellers to adapt to new market, according to the broker / agent CB Johnson.

"Increase in the near future, I expect market activity due to normal seasonal pickup," said Johnson. "This will be helped by some of the lowest interest rates. In the long term, home sales continue to be fueled by babyBoomer in the northeast, indicating that intend to move or to purchase a second home in Tallahassee, Florida and Virginia Beach. "

2006 began as a seller's market, with house prices still appreciating in double digits. This marked the end of a track record of two years with appreciation. In April HouseHunt Current Market Conditions Survey showed that the U.S. market whole house was close to providing a rare balance between buyer and seller demand for the first time ineight years. Although this development has been to Wilmington NC New Hanover County as a switch to a balanced market in June. Market equilibrium is defined as a market for 5-7 months of listing inventory available. In September, New Hanover County moved into a buyer's market, with more than 7 months of listing inventory available.

"This year was a big disappointment," said Eileen Hoskins, who has 3 bedrooms, 2,000 square meters was at home in the area of Monkey Junction in Wilmington on sale from May."We are in a bidding process during the war last summer with spending at home, but this year is a complete reversal." The list price is reduced to homepage Hoskin was $ 65K over the course of seven months, and she has not yet received an offer.

In 2006, an average of 50 percent of the rate of absorption Wilmington, which means that two homes were listed for each house sold, which leads to the wide selection of homes available and helps explain why some properties, such as Hoskins, remained without a buyer. However, noHoskins all shared the disappointment of the market.

"This year has been great," said Tim O'Callaghan, Wilmington real estate investors and specialist in restoration since 1990. What slowdown? It is as if the region Coastal Carolina is buffered from national trends. I expect the Wilmington market to remain strong due to pensioners and attractions like the river, downtown and the beach to ask. "In 2006 alone, O'Callaghan sold and purchased three properties in WilmingtonNC.

The absorption rate is calculated by measuring the amount of bids to the quantity of items sold are. Learn more about Wilmington real estate absorption rate here. Inventory is sold through a comparison between the actual level of available offers the height of the lists in the past three months and then required the multiplication of the amount of time to absorb the inventory under way to determine automatically. For example, New Hanover Countycurrently has 2924 entries are available. New Hanover County sold eight hundred seventy-five bids in the last three months, should therefore continue to 10.025 months time to sell houses in 2924.

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