June’s home sale statistics continue to show an improving Wilmington real estate market, with home sale prices up almost 20 percent from 2015.
“The Wilmington real estate market can only be considered as very robust,” said Don Harris, president of the Wilmington Regional Association of Realtors (WRAR). “Local real estate sales continue to be a major economic stimulus for our region. For many people, it is a fantastic time to buy or sell.”
Statistics from WRAR show that the Wilmington area saw more than $1 billion in home sales for the first half of 2016, with the number of units sold rising 18 percent over last year. WRAR’s data shows that the average home sales price was $295,750 during that period, up by 20 percent over the $246,041 average sales price from the first half of 2015.
Harris noted that other positive data included continued low interest rates of 3.5 percent and a 13 percent drop in time a house is on the market, down to an average of 103 days.
Meanwhile, a local real estate agent for Intracoastal Realty reached a lifetime milestone in June when he eclipsed $1 billion in lifetime sales. Keith Beatty has sold more than 4,000 units over his 23-year career, and has been ranked as high as No. 27 on the Wall Street Journal’s list of top real estate professionals, Intracoastal Realty stated in a press release.
“It is a milestone achieved only through commitment, service and perseverance,” Jim Wallace, Intracoastal Realty CEO, stated in the release. “Keith is an expert in his field and yet he is constantly seeking new skills and ideas to stay out front in a very competitive business.”
Beatty was Intracoastal Realty’s top seller in 2015, closing on 330 units to total more than $95 million, averaging 1.26 properties sold every business day. He was awarded the Lifetime Marketing Achievement Award from the Wilmington-Cape Fear Home Builders Association.
“No one individual can achieve this milestone,” Beatty said in the release. “It has been a collective effort from my team, the management and staff of Intracoastal, all the builders we have worked with and most importantly the thousands of buyers and sellers we have been fortunate enough to represent.”
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