QUICK LOOK: Wilmington 28412 Market Report
$100K – $199K – Sellers Market
$200K – $299K – Sellers Market
$300K – $399K – Sellers Market
$400K – $499K – Sellers Market
$500K – $599K – Buyers Market
$600K – $699K – Market is Neutral
$700K – $799K – Buyers Market
What does this mean?
A Buyer’s Market
happens when there are more homes for sale than buyers to purchase them.
- If you’re buying a new home, a buyer’s market is a great time to make your move. You might be able to get a great home for a lower price than you would in a seller’s market.
- If you’re trying to sell your home in a buyer’s market, it may stay on the market longer than normal due to the large number of available homes. You may also have to lower your listing price and/or make other concessions to get a buyer.
A Seller’s Market
happens when there are more buyers than available homes for sale.
- If you’re selling a home, a seller’s market is a great time to sell your home. You are more likely to secure a sale price that’s closer to your listing price, and/or above your bottom line (the lowest price you’d take for your home).
- If you’re buying a home in a seller’s market, remember that the seller has the advantage. If multiple buyers are interested in the same home, trying to get a lower sale price probably won’t work in your favor. It’s usually the highest offer that gets accepted by the sellers.
How to Determine if it’s a Buyer’s Market or Seller’s Market
It’s easy with our Wilmington 28412 Market Report. We’ve analyzed the data and created an easy to read chart. Just look at page 3
. We update this report weekly to keep you informed. Download the January 21th, 2018 Wilmington 28412 Market Report
Over time you’ll notice that the real estate market in Wilmington 28412 goes up and down based on seasons. In summer months (June – August), there are usually a lot more homes for than any other time of year. That means that it could be a seller’s market in the winter but a buyer’s market in the summer. Buyer’s and seller’s markets also depends on the area.
Cities with good economies and lots of jobs can often be a seller’s market, while those with struggling economies will likely be a buyer’s market.
Same goes for neighborhoods. Some neighborhoods in our area favor sellers most of the time, while others usually favor buyers. See market reports on the most popular neighborhoods in Wilmington and surrounding areas.
Buying & Selling in Different Types of Markets
A local real estate agent will be able to come up with a strategy for getting the best deal, whether it’s a buyer’s market or a seller’s market. If you’re selling, they’ll know how high of a price to ask for, and if you’re buying, they’ll know what you need to offer to compete with other potential homebuyers (or sway the homeowner to accept a lower price).
Choose an agent you trust, who is an expert at negotiations, has many years of experience, and can be easily reached by phone and email, is key to coming out ahead. Be sure to consider real estate agents that offer real estate commission rebates to home buyers and discount listing fees to home sellers.
The real estate landscape has changed–thanks to Zillow, Trulia, and Realtor.com—today buyers and sellers are doing half of the work of traditional real estate agents and should be rewarded for their efforts.