Home prices in Wilmington climbed for the first time in 8 months as inventory levels fell, according to the latest data from Realtor.com.
- The median listing price hit $475,000 to start 2025, up 2.7% year-over-year, marking the first annual increase in eight months and the biggest jump since April 2023,
🏡 By the numbers: Active listings fell to 2,825, the second straight monthly drop and the lowest since May 2024. While new listings rose to 948 from December they remained at the second-lowest level in over a year.
- Median days on market climbed to 85, up from 77 in December and the highest since June 2020.
- Price reductions rose to 758, but this is still the second-lowest total in the past 10 months.
Bottom Line: The rise in prices signals a potential market rebound, but longer selling times and relatively low price cuts suggest that some sellers may be overpricing homes in a high-interest-rate environment.
