Buyer Demand Continues Outpacing the Supply of Homes for Sale in Wilmington

Buyer Demand Continues Outpacing the Supply of Homes for Sale in Wilmington

The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices, and market conditions” for their monthly REALTORS Confidence Index.
 
Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).
 

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”

The darker the blue, the stronger the demand for homes in that area. Only three states had a ‘stable’ demand level. North Carolina is “Very Strong,” especially in Wilmington.
 

Seller Supply

The index also asked: “How would you rate seller traffic in your area?”
 
As you can see from the map below, 21 states report a ‘weak’ sellers traffic, 25 states report a ‘stable’ sellers traffic, and only 4 states and DC report a ‘strong’ sellers traffic. Meaning there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes. Wilmington NC is “stable.”
 

 

Bottom Line

Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet the buyer demand, prices will continue to increase. If you are debating listing your home for sale in Wilmington, let’s get together to help you capitalize on the demand in the market now!

Work With Us

Experience expert representation for your real estate needs with Sherwood Strickland in Wilmington, NC. Whether you're considering relocation or seeking a coastal lifestyle, trust us to guide you through the diverse and thriving real estate market of Wilmington, where our focus is on making your dream home a reality.

Follow Us on Instagram