Wilmington’s housing market is seeing a notable shift as inventory levels surged to a five-year high in April, according to the latest data from Realtor.com. However, unlike other markets, this is not a sign of a weakening housing market.
- Active listings rose to 3,555, marking a 13% increase from March and the highest level since November 2019.
- Compared to a year ago, active listings are up an impressive 34%.
No Weakness: However, the surge in inventory does not appear to be a sign of weakening demand. New listings spiked by 1,570 in April—the largest monthly increase since Realtor.com began tracking the data in 2018.
- This shattered the previous record of 1,466 new listings set in March 2020, when sellers rushed to list homes just before the pandemic’s initial lockdowns.
- Despite the jump in available homes, market activity remains brisk. Median days on market fell to 51 in April, down from 52 in March and the fastest sales pace since October 2023.
Price growth did moderate somewhat, with the median home price up 2.2% year-over-year in April. That’s a slowdown from the 4.3% annual increase recorded in March. Still, April’s price appreciation ranks as the third highest in the past two years, suggesting the market retains upward momentum.
Hotness: Wilmington’s housing demand also strengthened. The area’s hotness rank—a Realtor.com measure of buyer activity relative to other markets—rose to 157 in March, up sharply from 210 in February and the best reading since October 2023.
Bottom Line: While rising inventory in many national markets signals weaker sales, in Wilmington—at least in April—it reflects market strength.
