Someone recently asked me what I thought were the “hot” real estate areas in Wilmington. It depends on how you define “hot” areas?
Overall, I’d say Wilmington is somewhat unique because our population has been growing at a fast enough clip that it’s actually easier to identify the areas you’d probably want to avoid.
Compared to the rest of New Hanover county, I think the area around and to the north/northeast of the airport as well as the east side of downtown (10th – 20th Streets) wouldn’t provide the same opportunities as most other sections of town. At the risk of sounding like a typical Realtor, there really are few areas of Wilmington with little potential. That having been said, there are isolated neighborhoods that don’t appear to show much promise, but they are generally small subdivisions and they are scattered throughout the county.
If “hot” is defined as a transitional area, I think the most promising area is 7th to 10th Streets in the downtown area. The closer to Market Street, the better. There was a lot of action in this area at the height of the market. It has since cooled, but it offers the most affordable opportunities to be near downtown.
If “hot” is defined by the “place everyone wants to live,” that would have to be Wrightsville Beach and the historic district of downtown.
If “hot” is where most of the new sales are occurring, we’re talking Leland (across the river from Wilmington in Brunswick County.) New developments such as Brunswick Forest and Compass Pointe continue to attract mostly older, upper middle class buyers from the Northeast and Mid-Atlantic states at an above average clip.
If “hot” is the exclusive neighborhoods, Figure Eight Island, Landfall, Bald Head Island and several pocket neighborhoods near Wrightsville Beach are on that list.
I suppose, by definition, a “sleeper” isn’t “hot,” but my favorite area (witnessed by the fact I live there) is the Kure Beach area. It’s a small residential beach town with lots of charm and rarely visited by the college-age beach-goer. (You’ll find them at Wrightsville Beach.)