Local Luxury Homes Market Starts 2016 Soft

Local Luxury Homes Market Starts 2016 Soft

Local luxury homes sales in 2016 are off to a soft start, especially compared to a year ago.

January 2015 saw seven homes sell for $1,000,000 or more in New Hanover County.  This January, only three, or less than half, sold.  They included:

2 Sounds Point Road, Wilmington closed for $3,175,000 on January 12.  Located on Figure Eight Island, this sound front home is just under 4,000 square feet and sits on a .55 acre lot.

17 Backfin, Wilmington closed on January 27.  The selling price was $1,867,500.  Also, located on Figure Eight Island, this 4 bedroom, 4 bath home is on a .43 acre lot overlooking the sound.  Total heated square footage is 2,651.

110 Skystasail Dive, Wilmington closed on January 15 for $1,400,000.  This sprawling 10 bedroom, 5 bath home is nearly 9,000 square feet, featuring an 11-seat media room, a wine cellar, salt water pool and private boat dock.

Brunwick County had no luxury home sales in Janaury, which is down from one that sold there the same month last year.

Looking forward, the numbers suggest a trend may be taking shape.  Two homes with asking prices more than $1 million dollars went under contract last month.  That is substantially lower than the nine luxury homes that went under contract in January 2015.

No luxury homes went under contract in either January 2015 or 2016 in Brunswick County.

There are currently 131 luxury homes available in New Hanover County.  The highest asking price is $5,900,000 for 188 Beach Road S., on Figure Eight Island.

Brunswick County has 81 high-end homes on the market.  The most expensive is 214 Station House Way on Bald Head Island at $3,650,000.

If you’d like more information on luxury homes in Wilmington and the surrounding Cape Fear Region, contact Just For Buyers Realty at 910-202-4813 or info@JustForBuyersRealty.com.

(The numbers in this report are from the North Carolina Regional Multiple Listing Service.)