Nestled along the picturesque coastline of North Carolina, Wilmington has long been celebrated for its historic charm, vibrant culture, and scenic beauty. As we step into 2025, the city’s allure continues to attract new residents and investors alike. Understanding the current dynamics of the Wilmington NC real estate market is essential for real estate agents (called “brokers” in NC) serving clients in the area.
Here’s what you need to know about Wilmington, NC, real estate market trends – 2025.
Key Takeaways
Wilmington’s Housing Market is Adjusting to Growth
- Wilmington remains one of the fastest-growing metro areas in the U.S., with increasing housing inventory and steady demand.
- Home values have risen by 2.4% over the past year, and a growing number of new listings has contributed to a more balanced market.
Market Trends Indicate a Shift Toward Stability
- Pending sales and inventory levels have increased, giving buyers more options and negotiating power.
- The average days on market have extended, suggesting a more deliberate buying process.
Investment and Development Opportunities Are Expanding
- Strong rental demand and upcoming infrastructure projects, such as the Cape Fear Memorial Bridge replacement, are expected to impact property values.
- Neighborhoods with higher appreciation, like Landfall, continue to attract buyers.
Real Estate Brokers Play a Key Role in Market Navigation
- Buyers need guidance on financing options and competitive market conditions.
- Sellers must adapt pricing and marketing strategies to attract buyers in a more balanced market.
- Investors can benefit from insights into high-growth areas and long-term development trends.
Current State of the Wilmington NC Real Estate Market
We can’t tell the full story of the Wilmington, NC, real estate market without sharing that the population in the Wilmington metro area is growing. The area ranked 9th in the U.S. Census Bureau’s list of metro areas with the highest population growth from July 2022 to July 2023.
How does this population growth and other factors influence the real estate market? We’ll answer those questions, but first, here’s a market overview.
Wilmington’s market overview
As of January 2025, Wilmington’s housing market reflects a period of adjustment and resilience. The average home value is $404,937, a 2.4% increase over the past year. Properties typically transition to pending status in approximately 27 days, indicating a steady demand (Zillow, February 2025).
In January 2025, new listings increased to 1,156, representing a 2.2% rise year-over-year. This influx suggests a replenishing of available homes, offering more options for buyers.
The month’s inventory (new listings and existing listings) rose to 4.7 months, a 17.6% uptick year-over-year. This shift brings Wilmington closer to a balanced market, where neither buyers nor sellers hold a distinct advantage.
Sales and demand trends
Closed sales in January 2025 totaled 678, reflecting a slight 0.3% increase year-over-year. Pending sales—a forward-looking indicator—climbed to 923, marking a 28.4% increase from the previous month. This rise suggests a potential uptick in closed sales in the coming months.
The average cumulative days on market extended to 71 days, a 24.6% increase from January 2024 and a 3% rise from December 2024. This trend may indicate buyers exercising more caution or a broader selection of properties leading to longer decision-making periods.
Factors Influencing the 2025 Market
What other factors influence the Wilmington real estate market? Let’s consider Wilmington’s economy and broader factors such as mortgage rates.
Economic indicators
Wilmington’s economy remains robust, with employment rates contributing positively to the housing market. As of January 2025, unemployment rates are notably low: New Hanover County at 3.0%, Pender County at 3.1%, and Brunswick County at 4.5%.
The region’s population growth further fuels housing demand. As noted earlier, Southeastern North Carolina is experiencing a sharp population increase, driving demand for housing, jobs, and infrastructure.
Housing inventory and new developments
The surge in new listings indicates a dynamic market responding to increased demand. Several residential projects are underway, aiming to address housing shortages and offer diverse options to buyers. These developments are poised to impact inventory levels and potentially stabilize price growth.
Interest rates and financing
Nationally, the housing market faces challenges due to elevated mortgage rates. However, the sector’s prospects seem to have improved as many realize that waiting for lower rates may not be the best strategy.
Helping buyers understand current mortgage rates and exploring various financing options is crucial to help them navigate affordability concerns.
Forecast for Wilmington NC Real Estate Market in 2025
What does the region’s growth, mortgage rates, and increased inventory mean for the Wilmington, NC, real estate market forecast? Here’s what real estate brokers need to know about the future of the Wilmington housing market.
Price projections
Factors such as ongoing population growth, economic stability, and new housing developments are expected to influence home prices in Wilmington. While some areas may see continued appreciation, others might experience stabilization as inventory increases.
However, some neighborhoods in Wilmington have experienced more significant appreciation. For instance, Landfall’s average home value rose 6.4% over the past year, reaching $1,117,338 (Zillow, February 2025).
Market dynamics
The balance between supply and demand is anticipated to evolve throughout 2025. The increase in new listings and months’ supply of inventory suggests a shift towards a more balanced market. This equilibrium could lead to more negotiating power for buyers and a tempering of rapid price escalations observed in previous years.
Investment opportunities
Wilmington offers promising prospects for investors, particularly in neighborhoods demonstrating robust growth.
Given the city’s population growth and housing demand, investors might consider single-family homes for rental purposes. Additionally, upcoming infrastructure projects, such as the replacement of the Cape Fear Memorial Bridge, are likely to enhance connectivity and boost property values in adjacent areas.
Tips for Buyers, Sellers, and Investors
North Carolina real estate brokers play a vital role in guiding buyers, sellers, and investors through the dynamic housing market. Understanding the needs of each client type ensures informed decision-making and successful transactions.
Helping homebuyers in Wilmington, NC
- Navigating the Market: As inventory increases, buyers have more choices, but competition remains strong in desirable neighborhoods. Acting decisively is key.
- Financing Options: Exploring mortgage products and considering rate locks can help buyers secure favorable terms.
- Due Diligence: Providing insights into local trends, upcoming developments, and neighborhood characteristics helps buyers make confident decisions.
Supporting sellers
- Strategic Pricing: A balanced market requires realistic pricing to attract serious buyers while maximizing value.
- Effective Marketing: Professional photography, virtual tours, and targeted digital campaigns enhance a property’s visibility.
- Negotiation Readiness: With buyers gaining leverage in some areas, sellers should remain open to negotiation while maintaining competitive positioning.
Advising real estate investors
- Identifying High-Value Properties: Focusing on areas with strong rental demand and economic growth potential can lead to profitable investments.
- Understanding Rental Market Trends: Wilmington’s rental market remains robust, making buy-and-hold strategies an attractive option.
- Long-Term Investment Planning: Keeping track of planned infrastructure and development projects can provide insight into future property appreciation.
By equipping future real estate brokers with market knowledge and strategic guidance, they can confidently assist clients in achieving their real estate goals.
Wilmington’s real estate market in 2025 is poised for a dynamic year, with shifting supply and demand patterns shaping opportunities for buyers, sellers, and investors. While prices continue to adjust, the increase in inventory signals a move toward a more balanced market.
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Sources:
- “More Homes, Higher Prices: Wilmington MSA Market Update by Janet Kane: Sponsored Insights.” WilmingtonBiz. Accessed February 27, 2025. https://www.wilmingtonbiz.com/insights/janet_kane/more_homes_higher_prices_wilmington_msa_market_update/4006.
- “Southeastern NC, Where We Have Our Heads in Business and Our Toes in the Sand.” Wilmington Business Development, February 26, 2024. https://wilmingtonbusinessdevelopment.com/.
