Wilmington sits on the northeastern coast of North Carolina. More than 122,000 residents call the beach community home. Wilmington is situated between the Atlantic Ocean and Cape Fear River. Read more if you are planning on selling in Wilmington. Wilmington is home to the University of North Carolina. You might be surprised to learn that the city is home to major film productions. Popular movies and shows filmed in the town include One Tree Hill, Dawson’s Creek, and Iron Man 3.
Wilmington provides a unique atmosphere for residents and guests. The city is within easy driving distance of four beach neighborhoods. The Wilmington International Airport offers flights to nearly 1 million people each year.
Wilmington has warm temperatures for much of the year. The city’s coastal location provides plenty of sea breezes. Summer highs average around 90 degrees Fahrenheit, with winter lows settling around 35 degrees Fahrenheit. The City of Wilmington only sees about 1 inch of snow per year. The city makes up for the lack of snow, with an average of 58 inches of rain per year.
Understanding the neighborhood where you’ll buy or sell a property is critical. There’s a well-known phrase in the real estate industry: location, location, location. When you’re buying or selling a property, the one thing that can’t be changed is the location. You’ll want to choose wisely. If you’re selling your property, highlighting the benefits of your neighborhood is a great way to attract buyers. If you’re purchasing a house, taking a closer look at the community will help you understand the market and investment potential more clearly.
Need to sell your home fast? Get an offer from Brick, fast!
Whether you’re moving on a deadline or just want to speed up the sales process to move on faster, we can help. We offer:
Fast, fair offers: The average home sits on the market between 25 and 30 days. Once your home is under contract, it can take 45 days to close. At Brick, we’ll make a fair, cash offer within days.
No closing costs: Selling a home can cost several thousand dollars when you factor in realtor fees, closing costs, and repairs. You won’t have any of those expenses when you sell to Brick.
No walkthroughs: Don’t worry about scheduling open houses or walkthroughs. We purchase homes as-is. We also buy properties in any condition.
Close in days: Instead of waiting a month or more to finalize your sale and move on, sell to Brick. Once you accept the cash offer, we can close the deal within days.
Housing Market Trends
Housing prices in Wilmington, North Carolina, are increasing quickly, especially compared to other cities in the state. Median sales prices increased 34.5% over a year. The average median sales price for a house in Wilmington is $393,500. Homes stay on the market for just 7 days. In May of 2021, the median sales price for a house in Wilmington was $321,500, and homes stayed on the market for 48 days. Homes are selling very quickly compared to last year. The number of home sales increased by nearly 4% between summer 2021 and 2022.
Over the last five years, the housing market has shifted dramatically in Wilmington. In May of 2017, the median sales price for a house was $260,000, and homes were on the market for 67 days.
May through August are peak selling times in Wilmington. Fewer homes are sold between November and January each year.
Tips for Selling Your Home Fast:
Significant life changes don’t always come at the most convenient times. Selling your home may be a desire, or it might be necessary. Whether you’ve decided to start a new life across the country on a tight deadline or you’re just ready to ditch your investment properties, managing your sale the right way is essential. Check out these helpful articles for navigating the quick sale of your house:
- Need to sell a home quickly to avoid foreclosure?
- When you need to sell your home fast, what are your options?
- How to sell a house that needs work when you don’t want to do it.
Critical Tips for Selling Your Home:
Selling your home(s) can be difficult, but it doesn’t have to feel overwhelming. Taking a few minutes to prepare yourself for the sales process can make a difference when it comes time to part with your house. Here are a few things to consider:
Why are you selling?
Before you list your house or contact us for a cash offer, it helps to know why you’re selling your home. Identifying the why helps with the sales process, including setting expectations for a sales price. It can also help you emotionally process the transaction to let go of your property.
Sellers offloading an inherited property, downsizing, going through retirement, or selling because of a divorce, should consider whether their emotional attachment could make the sales process more difficult. We’ve noticed that buyers who are overly passionate about the sale are more likely to:
- Ignore staging advice
- Overprice the home
- Respond irrationally to lower offers or requests for repairs
- Fail to market to their target audience
If you’re selling because you want to liquidate your investment properties, you may need to consciously withdraw the idea of control over what happens to the property once you sell.
What are your selling needs?
Once you’ve identified why you’re selling and identified ways to emotionally detach from the sales process, it’s time to think about your needs during the sales process. Which of these are concerns you have about your upcoming move?
- Cost of relocation
- Access to equity in your property
- Ability to provide seller financing
- Time to pack and move
- Cost of realtor fees and closing costs
- Cost of repairs
- Finding a buyer to purchase the property as-is
- Desire or ability to manage walkthroughs and appraisals
Many sellers spend as much as 10% of their sales price on repairs, fees, and closing costs. Are you comfortable or able to let go of that money to sell your home on the traditional market? If your home needs extensive repairs, you may need to pay for repairs or make concessions on the sale price. If you’d rather avoid appraisals and negotiating with buyers, selling your home for cash could be better.
Prepare for signing and closing
One of the most anticipated parts of selling a house is signing and closing. This final step makes everything official. The process can be a little different depending on whether you sell your home through the traditional market or with an ibuyer.
If you sell your home on the traditional market, the sale can fall through at any point before closing. Complications with appraisal or funding could delay a sale. In worst-case scenarios, a deal could entirely fall through if a buyer isn’t approved for financing or the lender refuses to fund the loan because the property appraises for less than the offered amount.
You’ll meet with the lender and the buyers during closing and sign paperwork to finalize the sale. Before the final paperwork, your property undergoes an appraisal and inspection. The agent will do a title search, and you’ll complete any repairs or other concessions. Once the closing paperwork is filed, and the title is transferred into the seller’s name, the home is no longer yours.
When you work with an ibuyer, the closing process is different. The process is much faster because there are fewer hoops to jump through. We offer more flexibility for sellers, including the ability to control when you move out. We don’t require inspections or appraisals, and you won’t have to worry about our financing falling through. We can help you sell your home in days instead of weeks.
What does Wilmington, North Carolina, have to offer:
Wilmington, North Carolina, is a dream location for anyone who enjoys spending time outdoors or on the water. In addition to beaches, residents can enjoy historical sites, arts, and shopping. From a historical battleship museum (on an actual battleship) to animal sanctuaries, art museums, and swimming, plenty of adventures are ready to be had.
Popular attractions in and near Wilmington include:
- Battleship North Carolina
- Cameron Art Museum
- Airlie Gardens
- Bellamy Mansion Museum
- Cape Fear Museum of History and Science
- North Carolina Aquarium at Fort Fisher
- Wilmington Railroad Museum
- The Children’s Museum of Wilmington
- Poplar Grove Plantation
- Figure Eight Island
- Wilmington Riverwalk
- Tregembo Animal Park
- Riverfront Park
- Greenfield Park
- Latimer House
- Smith Creek Park
- Cape Fear Memorial Bridge
- Masonboro Inlet
- One Tree Hill: The Bridge
- Abbey Nature Preserve
- Harbor Island
- Wrightsville Beach
- Lake Sutton
- Dram Tree Park
- Wilmington National Cemetery
- Carolina Beach Inlet
- Leland Cultural Arts Center