Just For Buyers Realty’s Greater Wilmington Luxury Real Estate Report – October 2015

October Closed Contracts

Nine homes priced over $1,000,000 in the Wilmington Regional Association of Realtors MLS sold during October. That’s an 80% increase over the five homes sold in October 2014.

Pending Sales

Three homes went under contract during this time. Sitting on three acres and truly a one-of-a-kind property, 6226 Richard Bradley Drive in the Bradley Hills neighborhood in Wilmington sold after just six days on the market. The asking price was $1,895,000.

The Intracoastal waterfront home at 6808 Towles Road with ample decks and sweeping water views had been on the market for more than 15 months. Asking price: $1,747,000.

The third property to go under contract is a rambling, nearly 9,000 square foot estate at 110 Skystasail Drive in Shandy Point. Boasting extensive use of natural woods, this ivy-covered 1920’s home had an asking price of $1,500,000.

The final contract prices on each of these properties will not be made public until the sale closes and the deed is recorded with the county registrar.

New Listings

Meanwhile, 15 new residential properties priced over $1 million dollars came on the market.

Perhaps the most interesting because of the seller’s flexibility is 217 S. Lumina Avenue in Wrightsville Beach. This property is an oceanfront double lot with a home dating to 1899. The investment group that owns the property is willing to sell it with the current home or sell the lots separately or raze the original home and build four new duplex style condos. The asking price for the home on the double lot is $4,900,000, making it the most expensive home to come on the market in October. The multi-story luxury condos are priced between $2.5 and $3.4 million dollars.

Most Expensive New Listings

The two most expensive homes to come on the market this month (judged on the cost per square foot of living space) were 2425 Alford Landing Drive and 217 S. Lumina Avenue (described above), priced at $1,409 and $1,470 per sq. ft. respectively.

The property at 2425 Alford has a tiny 2 bedroom, 1 bath cottage built in 1955. However, its 2.3 acre size and killer views of Hewlett’s Creek are what justify the $1,375,000 asking price.

Best Luxury Value Listed in October

With an asking price of $210.57 p/sq.ft., the new listing at 809 Swift Wind Place in Landfall takes this month’s award for best value in the over $1M market. Considering the home’s large size (more than 6,000 sq. ft.) and the nearly one acre lot in the tony Landfall neighborhood , this property is priced to sell at $1,295,000.

If you’re shopping for a luxury home in the greater Wilmington area, including Wrightsville Beach, Figure Eight Island, Kure Beach or along the Intracoastal Waterway, call Just For Buyers Realty at 910-202-4813. Our Exclusive Buyers Agents pride themselves on being consumer advocates, not sales people. You can count on them to do the research and provide you with the pertinent information you need to make well-informed choices.

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