Wilmington, NC- How hot was July? When it comes to sales of high dollar properties, the month was steaming. The Tri-County area recorded its best July ever, and its second best month of all time. Thirty-seven homes, each with a price tag of $1 million or more, closed in July. The total sum of the transactions was $56.8 million.
The only month to outperform July 202 was June of 2005, when 40 homes sold for $60.9 million.
The single most expensive sale in July was a home located at 274 Beach Road in Wilmington. The ocean front property is on Figure Eight Island. It measures more than 5,300 square feet with five bedrooms, four full baths, and two half baths. The estate closed on July 21, for $4,000,000.
(274 Beach Road, Courtesy Buzzy Northern, Intracoastal Realty.)
In addition to the 37 properties that closed, another 61 luxury homes went under contract in July. New Hanover led the way with 35 new deals. Brunswick County had 22 and Pender County had four.
On top of all that, for the second month in a row, the real estate market has a new most expensive listing. The house located at 1 Auditorium Circle on Wrightsville Beach is one of the 63 luxury properties to make their debut on the market in July. The Hawaiian modern style home has an asking price of $16.490,000, which is more than double the next most expensive home on the market in our area.
“We are seeing asignificant surge in demand for high-end properties,” says Kathleen Baylies Broker-In-Charge at Just For Buyers Realty. “More and more people are looking to escape their larger, crowded, and expensive cities. They’re looking for their piece of paradise and they’re finding it here in Southeastern North Carolina.”
| New Hanover County
July 2020 / July 2019 |
Brunswick County
July 2020 / July 2019 |
Pender County
July 2020 / July 2019 |
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| Newly Listed | 30 | 28 | 32 | 11 | 1 | 3 |
| Went Under Contract | 35 | 10 | 22 | 4 | 4 | 2 |
| Closed # Homes Sold | 20 | 9 | 15 | 5 | 2 | 1 |
| Total Closed $ Volume | $ 34.6 M | $22.2 M | 19.2 | $6.4 M | $2.95 | $1.1 M |
| Total Current Listings | 140 | 139 | 76 | 74 | 23 | 17 |
*Luxury homes are 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
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