October Luxury Home Sales Up Slightly

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2324 Ocean Point Drive in Landfall sold for $2 Million on October 5th. Photo © Intracoastal Realty Corp. Used with permission.

WILMINGTON, NC –   Seven homes with sales prices in excess of $1 million sold in New Hanover, Brunswick and Pender Counties during the month of October.  The dollar volume totaled $9.07 million.

The numbers were up slightly from September, when six luxury homes totaling $8.5 million sold.

Despite steady numbers, Kathleen Baylies, Just For Buyers Realty’s Broker-in-Charge expresses a little disappointment.  “Last year (2015), October was a surprisingly strong month.  We were hopeful we might see that kind of bump again this October.  Even so, this past month’s numbers are in line with general expectations.”

The most expensive home to sell in October was 2324 Ocean Point Drive in Landfall.  Listed for $2,195,000, it closed on October 5th for $2,000,000.  The 4,266 sq. ft. antebellum style home has four bedrooms, four bathrooms and sits on almost half an acre overlooking the Intracoastal Waterway.  Features include 100 year old heart of pine floors throughout the home and large upper and lower back porches to enjoy the million-dollar water views.

There are currently 234 luxury homes on the market in New Hanover, Brunswick and Pender counties.  At the current rate of sales, there is a 2.8 year supply of luxury properties available, giving high-end buyers plenty of choices and a negotiating edge.

October 2016 Luxury* Home Report

  New Hanover County

Oct 2016  / Oct 2015

Brunswick County

Oct 2016  / Oct 2015

Pender County

Oct 2016 / Oct 2015

Newly Listed 7 8 5 4 0 1
Went Under Contract 5 3 2 4 0 0
Closed # Homes Sold 4 8 3 5 0 1
Total Closed $ Volume $5.51m $17.53m $3.56m $6.76m 0 $1.50m
Total Current Listings 138 n/a 80 n/a 16 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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