Wilmington - Ranks Number Twelve in Appreciation
A Popular Destination Makes for Resort Area Investing
Wilmington, NC ranked number twelve for appreciation as of December 31, 2006 with 15.47%. Click here to see a list of the Top 20 Metropolitan Statistical Areas and Divisions with Highest Rates of House Price Appreciation. This area has become a popular destination because of its moderate, four-season climate, historic preservation district, and numerous championship golf courses. In addition, nearby Wrightsville Beach is a Mecca for sailors, surfers, sunbathers, beachcombers and seafood lovers making this a good area for short term rental investing. Some publications have named it in the top ten for “Best Places to Invest”.
Students and Jobs Fuel Rental Market
The labor market remains strong and that continues to drive home
sales up in this area. The top employers in Wilmington consists of
New Hanover Health Network, New Hanover County Schools, General
Electric, University of NC Wilmington, New Hanover County, City of
Wilmington, Progress Energy, WalMart, International Paper, PPD,
Inc, Corning, Inc, Cape Fear Community College, aaiPharma, NVISTA,
and Louisiana Pacific Corp.
Much of the city's growth is taking place along College Road, where the University of North Carolina at Wilmington (UNCW) is located. It enrolls over 11,600 students. Wilmington is also home to Cape Fear Community College with 4,500 students, CFCC is the fastest growing community college.
High Growth Rate
A high growth rate is expected to continue into the foreseeable future. A recent article in CNN Money said that Wilmington has a projected gain in home prices of 37% over the next 5-year period. Despite the market down turn in other areas of the country this area continues to grow. Many anticipate that price appreciation will continue at a good pace in 2007. Wilmington offers a spectacular variety of properties for investors.