Wilmington, NC – This year has proven to be a recorded breaker for sales of extremely high end homes in New Hanover County. In November a Figure Eight Island home closed for just under $4.7 million. That property became the fifth house to sell in New Hanover County this year with a price tag of $4 million or more. That’s a record! The previous high was set in 2017 when four $4 million homes sold.
The home is located at 4 Beach Road South. The five bedroom, 6 bath, 5,700 square feet beach house was built in 2016 and is located right in the middle of the island with views of both the ocean and the sound. It went on the market in November of 2017 with an original asking price of $5,295,000. The house was listed by Buzzy Northen of Intracoastal Realty.
(Photo of 4 Beach Road, Courtesy Buzzy Northen Intracoastal Realty)
“This has been the best year we’ve ever seen for the higher end of high end homes” said Kathleen Baylies Broker-in-Charge of Just For Buyers Realty. “Not only did we set a new record for $4 million sales, we also tied a record for $3 million sales. Thirteen such homes have sold so far this year in New Hanover County, and that ties the mark set in 2006 which was at the height of the market.”
The sale of 4 Beach Road was part of a very active November in the luxury home market. A total of 11 homes with a price tag of $1 million or more sold in New Hanover County, with another seven going under contract.
Meanwhile in Brunswick County three luxury homes sold and five went under contract in November. In Pender County one Luxury home sold with another three going under contract.
| New Hanover County
Nov 2019 / Nov 2018 |
Brunswick County
Nov 2019 / Nov 2018 |
Pender County
Nov 2019 / Nov 2018 |
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| Newly Listed | 26 | 15 | 6 | 3 | 4 | 0 |
| Went Under Contract | 7 | 9 | 5 | 3 | 3 | 0 |
| Closed # Homes Sold | 11 | 9 | 3 | 2 | 1 | 1 |
| Total Closed $ Volume | $18.8M | $17.6M | $5.2M | $3.M | $1M | $1.3M |
| Total Current Listings | 135 | 110 | 81 | 61 | 19 | 10 |
*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 Doug Wahl, Just for Buyer’s Realty. 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