The Real estate market is constantly changing, join me each week with The Wilmington Week in Review and keep up with what is going on in our local market in Wilmington NC, Wrightsville Beach, Carolina Beach and the Greater Wilmington NC Area.
Wilmingtons Week in Review
Posted 10-29-2014 at 11:22 AM by Tina Abraham
Wilmington NC Real Estate
[font=arial]Currently on the market there are 1530 single family homes in the greater Wilmington area and 284 under contract. In the last week there were 61 homes sold. The lowest priced home sold was $72,000 and the highest priced $1.2 Million on Figure Eight Island
Luxury Home House Flipping on the Upswing
High-end flipping, however, is heating up. Flips with a sale price of $750,000 or more rose 21 percent from a year ago, while homes priced below $400,000 declined as a share of all flips from a year ago, according to RealtyTrac. Homes priced between $750,000 and $1 million had a 41 percent return, which explains why flippers are heading to higher-priced neighborhoods.
Housing Still Warming up
data out Monday showing new home construction rose sharply in July to its highest level in eight months. The Commerce Department reported housing starts rose 15.7% to 1.09 million homes, beating expectations for 963,000.
[font=arial]Currently on the market there are 1530 single family homes in the greater Wilmington area and 284 under contract. In the last week there were 61 homes sold. The lowest priced home sold was $72,000 and the highest priced $1.2 Million on Figure Eight Island
Luxury Home House Flipping on the Upswing
High-end flipping, however, is heating up. Flips with a sale price of $750,000 or more rose 21 percent from a year ago, while homes priced below $400,000 declined as a share of all flips from a year ago, according to RealtyTrac. Homes priced between $750,000 and $1 million had a 41 percent return, which explains why flippers are heading to higher-priced neighborhoods.
Housing Still Warming up
data out Monday showing new home construction rose sharply in July to its highest level in eight months. The Commerce Department reported housing starts rose 15.7% to 1.09 million homes, beating expectations for 963,000.
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