Figure Eight Island Home Pushes December Luxury Sales into Positive Territory

PRESS RELEASE Contact: Kathleen Baylies
January 9, 2017 910-470-3190

For Immediate Release

real estate wilmington nc

1 Banks Road, Figure Eight Island, Wilmington was the most expensive home to sell in the tri-county area in December 2016, selling for more than $3.5 million. Photo © Intracoastal Realty Corp. Used with permission

Wilmington, NC – Luxury home sales were on track to finish December on par with the same month in 2015, but the sale of 1 Banks Road on Figure Eight Island changed that.  Its $3,537,500 selling price caused the monthly dollar volume of high end homes sold in New Hanover County to more than double from $3.11 million to $6.64 million during the final month of the year.

The custom built home sits on a half acre, sound front lot with sweeping views of the Intracoastal Water Way.  More than 6,000 square feet in size, it has five bedrooms, seven spacious baths, an elevator, extensive decking, ocean views to the east and two outdoor showers.

Only one other home sold for a higher price in the tri-county area (New Hanover, Brunswick, and Pender) during 2016.  The property at 7 Skimmer Road, also on Figure Eight Island, sold for $4.3 million in August.

The past year saw impressive growth in almost all segments of the local real estate market, but the steep upward trend didn’t extend to the luxury market.  Overall sales volume across all price points was up 19.2%, but the number of luxury homes sold in the tri-county area was down by 8.6% and the dollar volume was nearly 10% less than 2015.

  New Hanover County
Dec 2016  / Dec 2015
Brunswick County
Dec 2016  / Dec 2015
Pender County
Dec 2016 / Dec 2015
Newly Listed 10 5 2 3 0 0
Went Under Contract 4 6 2 2 0 0
Closed # Homes Sold 3 2 1 2 0 0
Total Closed $ Volume $6.64m $3.61m $1.49m $2.22m $0 $0
Total Current Listings 127 n/a 68 n/a 11 n/a

 

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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