Wilmington Income Unit Sales - Update Nov 2014

 

Foreclosures and short sales have dramatically dropped off for income property in Wilmington. All sixteen of the available units this month are standard sales or probate listings. A couple of the properties in escrow were distressed, but it is a big change to see so few of the bank-owned properties on the market.

• Available Units: 16 Apartments are listed for sale in Wilmington priced from $299K to $1.2M
• Units in Escrow: 7 Units are in escrow ranging from $285K to $1.6M

October sales includes 5 units from $447,500 to $1,350,000. Unit breakdown:

• Duplex sales – 2
• Triplex sales – 0
• Fourplex sales – 2
• Ten unit building – 1

On pricing, this month’s units sold within 3% of the asking prices and were split pretty evenly between properties that went slightly under asking price and a few that were bid up. The average time on market was 17 days.

Would you like more information about income units in Wilmington? Find out the current market value of apartments you own? Toering & Team has helped many investors with both buying and selling investment properties around Wilmington and the entire South Bay of Los Angeles. Let us know how we can help!

- Josh Toering (310) 525-9440 or email ToeringandTeam@gmail.com

Wilmington Units for Sale: