The 2019 Wilmington real estate market is predicted to remain strong. One of the biggest hurdles to be expected is our shrinking inventory (both in land and re-sales) alongside a slight increase in interest rates.
Outstanding job growth is serving as a double-edged sword. The strong economy is influencing an influx of job stability. With more jobs our demand is rising –while the supply has not quite caught up.
Another thing to think about is the number of retirees currently moving to the south. We have seen the 70+ age bracket greatly outpaces the younger generations in our area. Adding to the increase in demand.
The dwindling number of lots for new builds in New Hanover County is another factor.
We have to transition our thoughts to start thinking (and accepting) growth outside of New Hanover County. Both Brunswick and Pender Countries are beginning to see substantial growth and we predict that this will only keep rising.
Moving forward, Coastal Cypress is excited to keep building our custom homes in New Hanover and neighboring counties while expanding and focusing on our renovation services.
A competitive market is nothing to be afraid of. It is something to take advantage of. If that is sealing the deal on a piece of land or investing in a home renovation- we are here to help you along the way.
Have more questions about the Wilmington real estate market? Contact us today!