Local Luxury Home Sales Surge

A beach house at 813 South Lumina Avenue, Wrightsville Beach, was the most expensive home to sell in the tri-county area. The home sold for $2.85 Million. Photo © Intracoastal Realty Corp. Used with permission.

A beach house at 813 South Lumina Avenue, Wrightsville Beach, was the most expensive home to sell in the tri-county area. The home sold for $2.85 Million. Photo © Intracoastal Realty Corp. Used with permission.

WILMINGTON, NC – Sales of luxury homes in Brunswick and New Hanover counties more than tripled in March.  The total sales volume of properties priced in excess of $1 million jumped from $7.9 million in March 2016 to $23.9 million this March.

These numbers represent the strongest March showing in the high-end market since the peak of the real estate market.  The last time this segment of homes produced better numbers was in 2008 in Brunswick County, when luxury sales hit $7.7 million; and 2007 in New Hanover County with $18 million in sales.

“The last couple of months suggest growing confidence in the local luxury market,” says Kathleen Baylies, Broker In Charge at Just For Buyers Realty.  “It’s important to understand this is a very exclusive segment of the market where the sale of a small number of homes has a significant impact on the numbers, causing the statistics to be a bit volatile. Still we are optimistic the growth trend we’ve witnessed recently will continue through the summer.”

The most expensive home to sell in March was the ocean front property at 813 South Lumina Avenue, on the south end of Wrightsville Beach. It had been on the market for almost year.  The original asking price was $3,195,000 and it closed for $2,850,000 on March 17. The 4200 square foot home has five bedrooms and five baths and sits on .2 acres.  Stand out features are it’s unique “saw tooth design,” which provides ocean views from almost every room, and the large covered porches on each of the home’s three levels, which provide ample room for outdoor living.

  New Hanover County

Mar 2017 / Mar 2016

Brunswick County

Mar 2017 / Mar 2016

Pender County

Mar 2017 / Mar 2016

Newly Listed 26 22 23 17 2 2
Went Under Contract 12 5 2 4 1 0
Closed # Homes Sold 9 3 6 2 0 1
Total Closed $ Volume $17.0M $5.5M $6.9M $2.3M 0 $1.2M
Total Current Listings 135 148 91 91 15 18

As the name implies, Just For Buyers Realty serves only buyers. In a state where buyers purchase real estate at their own risk, the company’s mission is to serve as Superheroes for Buyers, using all of the secrets of the trade to protect buyers at every stage of the process.

Contact Just For Buyers Realty by calling 910-202-4813 or by e-mail at [email protected], or visit www.JustForBuyersRealty.com.

 

 

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