The Wildwood Housing Market: November 2024 Insights
The Wildwood housing market has experienced notable shifts in the last year, offering insights for prospective buyers, sellers, and investors. Let’s dive into the latest statistics for November 2024.
1. Units Sold in Wildwood
This November, 42 units were sold in Wildwood, a slight drop of 19% compared to the previous month. However, the total number of units sold was still 2% higher than November 2023, signaling a steady demand in the area.
Explore more about Wildwood Property Listings to see current listings and trends.
2. Active Inventory: A Growing Market
The number of homes available in Wildwood in November 2024 stood at 297, representing a 16% increase over the same period last year. While slightly lower than the previous month’s inventory of 301, the growth in inventory reflects a more favorable market for buyers.
Looking for more detailed inventory data? Check out our Market Trends for Wildwood Homes.
3. Median Sale Price: Slight Dip
The median sale price in Wildwood decreased by 3% from last year, now standing at $534,750. This is a drop of about $15,250 compared to November 2023, and a 10% decrease from October 2024. Despite the decline, Wildwood still offers affordable options compared to other coastal markets.
If you’re interested in comparing prices, visit our Sea Isle City Market Minute for insights into nearby beach towns.
4. Market Supply: Slight Increase
With 7.1 months of supply in November, Wildwood’s real estate market shows a 13% increase compared to last year. This metric indicates a balanced market, where supply is more in line with demand, providing opportunities for both buyers and sellers.
Learn more about Market Supply Trends in Wildwood and surrounding areas.
5. New Listings and Current Contracts
This month, Wildwood saw 56 new listings, a 6% increase from November 2023. The number of current contracts increased by 25%, totaling 35, reflecting a healthy interest in Wildwood properties.
Discover newly listed homes in Wildwood with our Latest Listings page.
6. Days on Market: Faster Sales
Homes in Wildwood are selling quicker compared to last year. The average days on market dropped to 81 days in November 2024, marking a 24% decrease from 106 days in November 2023. This reflects growing buyer confidence and quicker turnaround times for sellers.
Interested in how days on market compare across different properties? Take a look at our Real Estate Market Trends.
7. Sale Price to List Price Ratio
In November, homes sold for 96.7% of their list price, a figure very close to the previous year’s value. This indicates a stable market where sellers are pricing their properties well and buyers are negotiating fairly.
Want to understand more about pricing strategies? Our Price Optimization Tips can guide you.
Conclusion: What’s Next for the Wildwood Market?
The Wildwood real estate market continues to experience healthy activity, marked by a steady increase in inventory, moderate price adjustments, and quicker sales. Buyers can find competitive pricing, while sellers benefit from consistent demand.
For more personalized insights or to explore homes for sale, visit our Wildwood Real Estate Page today.