Wilmington, NC – Last month the luxury housing market in New Hanover County out preformed the numbers set in March of 2018 in every single category. This March more homes valued at $1 million or more were sold, more went under contract with sales pending in the next few months, more new listings came on the market, and the inventory of luxury homes increased from year to year.
Nine luxury homes sold in New Hanover County, compared to seven last year. The homes had an accumulative value of $15.1 million compared to $14.9 in 2018.
The most expensive home that closed in the month is located on 14 Southridge Road in Wrightsville Beach. The ocean front home in Duneridge Estate was listed by the Valentine Wallace group of Intracoastal Realty. It has more than 5,200 square feet, with six bedroom and eight baths spread out over four floors. The final sale price was $3,675,000.
( 14 Southridge Road, Wrightsville Beach Courtesy Intracoastal Realty)
The March numbers follow a trend that saw both January and February of 2019 out pace their 2018 counterparts.
While the three months have gotten the year off to a great start, the first quarter of 2019 fell short of an all time record. By the final day of March, 25 luxury homes had sold in the county. That makes it the third best opening quarter ever. It is ranked just behind 2005 when 27 homes sold, and 2006 when 32 homes sold.
“It doesn’t look like things are going to slow down any time soon,” said Kathleen Baylies Broker In Charge of Just For Buyers Realty. “To me the most impressive stat is that 16 homes went under contract in March. Add that to contracts signed earlier in the year, and we now have 24 luxury homes sales that are pending. That means we should see have a pretty good April and May.”
As for the other two Counties in the area, Pender County had two homes close in March with another three that went under contract. And in Brunswick County one home sold with five going under contract.
|New Hanover County
March 2019 / March 2018
March 2019/ March 2018
March 2019/ March 2018
|Went Under Contract||16||9||5||3||3||0|
|Closed # Homes Sold||9||7||1||7||2||1|
|Total Closed $ Volume||15.1||14.9||1.8||9.3||3.7||1.0|
|Total Current Listings||139||126||59||79||11||18|
*Luxury homes defined as those priced at $1,000,000 or higher statistics are from the North Carolina Regional Multiple Listing Service.
This report is presented by Kathleen Baylies, Just for Buyer’s Realty Broker in Charge. 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 Kathleen@JustForBuyersRealty.com, or visit www.JustForBuyersRealty.com