4 Reasons You Should Sell Real Estate in Wilmington, NC
Wilmington, NC has one of the most unique real estate markets in North Carolina. It is a coastal town and college town that is fueled by a strong economy. Resident and tourists alike are looking to buy properties within the city and it is the strongest real estate market in the state. Wilmington is an excellent part of North Carolina to sell homes. Here are 4 reasons you should sell real estate in Wilmington, NC.
Multitude of Buyers
Wilmington is currently a buyer’s market. There are pros and cons to selling real estate in a buyer’s market. As the buyer’s agent you will have a multitude of properties to show your clients and no shortage of clients to work with. As a listing agent you will have to compete with a large inventory of homes on the market. However, the demand from buyers far outweigh any inventory concerns. There are always more buyers to show homes to.
Real Estate Investors
Wilmington, NC is an excellent area to partner with real estate investors. Building a relationship with investors can lead to selling several homes each year within this one partnership. Investors see the potential in Wilmington to buy distressed or bank owned properties and turn them into a form of income. Investors are either looking to flip the properties and turn a profit or purchase a property to use for residential or vacation rental income.
A strong economy also translates to a healthy real estate market. Currently, the unemployment rate within Wilmington is 4.7% which below both the state unemployment rate of 5.5% and the national unemployment rate of 5.3%. The median household income is also higher in Wilmington than in other parts of the state. A healthy economy and low unemployment rate is an indication of potential buyers that can afford the costs of homeownership.
Sustainable Real Estate Market
Since the great housing collapse, the Wilmington real estate market has recovered and improved. Currently, the city is experiencing a home value appreciation rate of 2.8% per annum. This is higher than the national average of 2.1%. It also has a higher property value than the rest of North Carolina. The real estate holding its value and appreciating gives incentives for investors and buyers to purchase in Wilmington.
Selling real estate in Wilmington, NC comes with many advantages and incentives. Like any other area, it also has some challenges. Find a Classroom Near You and find out how Sea Coast Real Estate Academy can provide you with knowledge specific to selling in this area.