Wilmington Home Prices Hit $500k Amid Steady Sales

Wilmington, NC, The median single-family home price in New Hanover County reached $500,000 in 2026, marking a 3.1% increase from the previous year. Despite mortgage rates rising by nearly a full point, sales of homes between $300,000 and $600,000 in New Hanover County barely slowed in 2026, according to local MLS data.

In the $300,000 to $600,000 range, 1,520 homes sold during the period from January 1 through November 12, 2026, compared to 1,533 in the same period of 2025. This represents a slight decrease of less than 1%. The median price in this range rose 1.7%, from $417,800 to $425,000, and the typical home sold for about 98% of its original asking price in both years.

Buyers in this price range have remained steady, with the number of sales remaining relatively unchanged. However, buyers are now being more selective, running the numbers harder, asking more questions about the monthly payment, and negotiating more. This steadiness comes despite higher borrowing costs, with the average 30-year fixed rate at 7.18% in early November, compared to 6.22% a year earlier.

The families I work with didn't stop buying this year. The demand to live here hasn't gone anywhere."

The mix of middle-market buyers has also shifted. Buyers using FHA or VA loans accounted for 16.8% of sales between $300,000 and $600,000 this year, up from 14.3% in 2025, while cash buyers fell from 19.6% to 17.1%. More of the middle market is now being carried by households that depend on financing, including first-time buyers, veterans, and military families.

Inventory remains tightest where most local families shop. As of November 12, 390 single-family homes were listed between $300,000 and $600,000, roughly 2.5 months of supply based on the pace of sales from May through October. That is tighter than any other price range in the county. Homes listed above $2 million, by comparison, had about 5.9 months of supply.

Even so, sellers in the middle market are adjusting. 56% of active listings between $300,000 and $600,000 have reduced their price at least once, typically by about 4%. Homes in that range are also taking longer to sell as the season turns. Median days on market fell to 12 to 13 days in April and May, then rose to roughly 27 to 37 days in September, October, and early November.

The top of the market grew much faster. Sales of $1 million or more rose 24%, from 301 to 374, and sales of $2 million or more rose from 71 to 93. Total sales volume reached $1.91 billion, up from $1.82 billion. That luxury growth accounts for part of the jump in the overall median. Meanwhile, sales under $400,000 fell 8.6%, from 927 to 847, a sign that fewer entry-level homes are coming to market.

Demand for Wilmington has been building for years. The city was named one of Livability's Top 100 Best Places to Live in the U.S. in 2025. In 2026, it ranked No. 7 on Southern Living's list of the South's Best Cities, and Travel + Leisure named Wilmington and Wrightsville Beach the third-best beach towns to live in year-round. RentCafe's 2026 Best Cities for Renters report ranked Wilmington fourth in the nation and first for job growth, and ConsumerAffairs named it the best city in the country for a fresh start.

National forecasts for 2027 point in different directions on rates but agree that home prices are unlikely to fall. Fannie Mae's October forecast expects the 30-year rate to average 7.5% through 2027, with national home price growth slowing to 0.6%, according to Florida Realtors. Goldman Sachs Research expects rates to ease to about 6.4% by the end of 2027 and national prices to rise about 0.8%, according to Mortgage Professional America.

"What I can tell them is that waiting for Wilmington prices to drop hasn't paid off, and the national forecasts don't expect that to change in 2027.