April 2016 Wilmington, NC Luxury Real Estate Market Report

52 Pelican Dr Wrightsville-large-028-10-DSC 5010 1 2-1499x1000-72dpi52 Pelican Drive, Wrightsville Beach, NC, listed for $2,795,000.
This home is one of 21 newly listed properties in April 2016 with an asking price of more than $1,000,000.
©The Barbara Pugh Team, Coldwell Banker Sea Coast Advantage, Wilmington, NC.  Used with permission.

April’s activity in the local luxury market mirrored that of March as the supply of million dollar plus homes continues to exceed demand.

New Hanover and Brunswick Counties saw a decline in the combined number of closed sales, from ten in April 2015 to six in 2016.  Total volume was down from $17.4 million to $7.15 million.  April marks the second month in a row with total sales volume of high-end homes down more than $10 million compared to the same month last year.

There were no luxury home sales in Pender County during April this year or last year.

The six properties that closed in April were:

2013 Scrimshaw Place, Wilmington for $1,050,000
1413 Pembroke Jones Drive, Wilmington for $1,175,000
1432 Quadrant Circle, Wilmington for $1,160,000
214 Row Boat Row, Bald Head Island for $1,258,000
908 East Main Street, Sunset Beach for $1,350,000
3 W. Asheville Street, Wrightsville Beach for $1,400,000

There are currently 259 homes on the market with asking prices at or above $1 million in New Hanover, Brunswick and Pender counties.  At the current rate of sales, there is a 3.6 year supply of luxury properties available.  That’s good news for high end buyers who continue to have plenty of choices and a definite advantage at the negotiating table.

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This report was compiled by Just For Buyers Realty, the largest exclusive buyers agency in southeastern North Carolina.  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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