2016 was a strong year for housing market in Wilmington - WECT TV6-WECT.com:News, weather & sports Wilmington, NC

2016 was a strong year for housing market in Wilmington

2016 was a big year for real estate in Wilmington. (Source: pixabay) 2016 was a big year for real estate in Wilmington. (Source: pixabay)
NEW HANOVER COUNTY, NC (WECT) -

2016 was a big year for home sales in Wilmington.

Realtors expect that trend to continue as our area is projecting several years of steady growth.

According to figures from Cape Fear Realtors, $2,218,385,319 worth of real estate was sold in 2016.

That is the largest number seen in our region in 11 years.

Neal Johnson, president of Cape Fear Realtors, talked about the market on WECT News First at Four this week.

"Amazing is all I can say with regards to both the December 2016 month and year-end numbers for residential homes sales in the region,” Johnson said.

According to CFR, when comparing 2016 to 2015, there was an 18.74% increase in total sales volume, a 13.84% reduction in the days on the market, a 2.36% increase in the median sales price and a 19.2% increase in total unit sold.

“It is simply staggering to see these year-end numbers,” he said. “It is very clear that our real estate market is robust and growing aggressively. If anyone is doubting that our real estate industry is back just look at the numbers. This is very promising for 2017 and proof that our region is a highly desirable place to live and work."

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