August 2025 Wilmington Real Estate Market Update

By Buddy Blake

Buddy Blake is a renowned real estate expert in Wilmington, North Carolina, known for his commitment to delivering exceptional service and his deep-rooted connection to the community. With decades of experience, Buddy has become a trusted name for homeowners, businesses, and local families.

Homes are taking longer to sell across the country, including right here in Wilmington, North Carolina. Not long ago, a well-priced home could go under contract in three days. Today, it’s closer to three months, and this slower pace is expected to continue unless we see a major, long-term drop in mortgage rates.

Resale homes face tough competition from new construction. National home builders have eight to nine months of inventory on hand, and they are using every tool they can to move it. Price cuts, mortgage incentives worth $20,000 to $30,000, and boosted buyer-agent commissions are all in play. That puts pressure on existing home sellers to price more aggressively if they want to attract buyers.

Equity gains remain strong for longtime owners. If you have owned your home for three to five years or more, your equity has likely doubled. Add in tax savings, and many sellers are walking away with two and a half times what their home was worth just five years ago. While we are below 2022 peaks, profits are still historically high.

Pricing is the number one factor in selling a home. Open houses and marketing cannot fix an overpriced property. Buyers are comparing every option and looking for value. The better your price position, the more qualified buyers you will attract, sometimes even cash buyers. Strong interest also helps reduce inspection issues, appraisal concerns, and contract fallout.

Owning a home for five years means you have won. The market cycles typically shift every three to five years, and we are in year three of the current cycle. That means pricing discipline is more important than ever. If you have owned your home for five years or longer, you have already won with equity. You may not hit the record numbers from 2022, but you are still walking away with substantial gains.

Free tool to assist homeowners. To help you make smarter decisions, we created FreeHouseValue.com. This site lets you see potential tax savings, check insurance coverage levels, and review details about your property that most homeowners overlook. You do not need to enter your name, phone number, or email. It is a simple way to get valuable insights before making your next move.

What does this mean for sellers and buyers? If you’re planning to sell, you need to be realistic, price smart, and protect your profit. But if you’re thinking about buying, remember it’s almost always better long-term to own than to rent.

For more resources and advice tailored to current market conditions, call or text me at 910-218-8879 or email buddy@buddyblake.com. I would be glad to walk you through your options.