New Hanover Luxury Home Volume Highest in Nine Years

jfbr-augustreport

WILMINGTON, NC – Thirteen luxury homes, representing more than $26 million, were sold in New Hanover County during the month of August.  That is the largest dollar volume of sales of homes priced in excess of $1 million to close since June 2007, when $26.5 million worth of luxury homes were sold in New Hanover.  The August 2016 sales numbers were up 60% from July, when $15.7 million of upscale homes were sold.

In other luxury home sales news, the small town of Burgaw, NC has seen an uptick in the number of homes priced at $1 million or more listed for sale.

The home at 4656 Highway 117 South came on the market August 10 for $3,995,000.

This newest listing is one of three luxury homes for sale in Burgaw.  Three may not seem like a significant number until you note there has never been a sale at or above $1 million dollars in Burgaw recorded in the multiple listing system.

The property at 4656 Highway 117 South sits on nearly 135 acres with two creeks and three fishing ponds.  The house is 4,688 square feet with three bedrooms and 5 bathrooms.  Two cemeteries dating from the 1700 and 1800’s, and the remnants of an old mill, lend to the property’s historical significance.

561-ashton-lake-3-shot

The other two Burgaw properties priced over $1 million are 561 Ashton Lake Road for $4,500,000 and 8150 Old River Road for $1,500,000.  The Ashton Lake Road home has been on the market since December.  The one on Old River Road was listed in March.

There are currently 243 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 1.4 year supply of luxury properties available, making this an exceptionally good time for buyers to negotiate the purchase of a high end home.

August 2016 Luxury* Home Report

New Hanover County

Aug 2016  / Aug 2015

Brunswick County

Aug 2016  / Aug 2015

Pender County

Aug 2016 / Aug 2015

Newly Listed 12 3 3 2 4 3
Went Under Contract 8 10 1 1 0 0
Closed # Homes Sold 13 10 2 2 0 0
Total Closed $ Volume $26m $15.7m $2.3m $2.5m 0 0
Total Current Listings 133 n/a 92 n/a 18 n/a

*Luxury homes defined as those priced at $1,000,000 or higher
Statistics are from the North Carolina Regional Multiple Listing Service.

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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