Wilmington, NC- The tri-county luxury housing market followed its best year ever with its best January ever. A total of 21 homes, with a final price of $1 million or more, sold during the month throughout the counties of New Hanover, Brunswick and Pender. The sales had a collective value of $32.9 million. The previous best mark for January was set in 2006 when 18 luxury homes sold.
“The year is off to a great start,” said Kathleen Baylies Broker-in-Charge at Just For Buyers Realty. “And given the second half of last year , it is not all that surprising. We are right now in the hottest real market this area has ever seen, and that of course includes luxury homes sales.”
The most expensive home to sell in January is located at 526 Beach Road North on Figure Eight Island. The five bedroom, 4,200 plus square foot house, sits on an oversized ocean front lot. It debuted on the market in July, went under contract in November, and closed on January 14th for $3.7 million.
(526 Beach Road North, Wilmington courtesy of Ronnie Hunt, Hardee Hunt & Williams)
In addition to the homes that sold, another 50 luxury properties went under contract in January. “Assuming most of these pending contracts turn into successful closings, we expect sales records will continue to be broken as we progress through winter,” said Baylies. “Luxury buyers are continuing to discover southeastern North Carolina. And the more that come, the more this remains a seller’s market with prices reaching new record highs.”
| New Hanover County
JAN 2020 / JAN 2019 |
Brunswick County
JAN 2020 / JAN 2019 |
Pender County
JAN 2020/ JAN 2019 |
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| Newly Listed | 25 | 12 | 8 | 4 | 3 | 7 |
| Went Under Contract | 28 | 12 | 18 | 5 | 4 | 3 |
| Closed # Homes Sold | 13 | 12 | 6 | 1 | 2 | 0 |
| Total Closed $ Volume | $20.4M | $18.0M | $9.7M | $1.8M | $2.8M | 0 |
| Total Current Listings | 110 | 129 | 65 | 72 | 15 | 20 |
*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 Buyers 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