Wilmington, N.C.- On the south end of Wrightsville Beach sits a four bedroom, five and a half bath oceanfront home that measures almost 5,600 square feet. That property was featured in the Just For Buyers Luxury Report for July 2019 when it sold for $5,000,000, becoming only the fourth residential real estate transaction in New Hanover County history to reach that mark.
Less than two years later, the home has sold again, setting an all-time record breaking sale. The house, located on 915 S. Lumina Avenue, sold on May 10th for $6,400,000. That is now the single most expensive sale ever recorded in New Hanover County, breaking a record set in March when another Wrightsville Beach home sold for $6 million.
(915 S Lumina Avenue Courtesy Vance Young, Intracoastal Realty)
“Not only did the home set a new record for the county, the sales price was $150,000 more than the asking price,” said Kathleen Baylies, Broker-in-Charge at Just For Buyers Realty. “It’s a situation we’re seeing more and more frequently. So far this year, almost 30% of the high-end homes have sold at or above the listing price. Compare that to 18% for the same time period last year and 8% for the first five months of 2019.”
The home was one of 71 luxury properties in the tri-county area to sell in May. That also breaks a record set in March when 52 luxury homes sold.
New Hanover County led the way. A total of 38 high-end homes sold in the county for a collective $65.7 million. Another 27 luxury properties sold in Brunswick County for $36.1 million. In Pender County, six luxury homes sold for $8.7 million.
May also marks the first time that the total sales amount crossed the one hundred million dollar mark. When all three counties are added up, the total dollar value in sales equals $110.5 million. Once again, that topped the last record set in March 2021, when the total dollar value equaled $92 million.
|New Hanover County
May 2021 / May 2020
May 2021 / May 2020
May 2021/ May 2020
|Went Under Contract||14||22||9||13||4||2|
|Closed # Homes Sold||38||7||27||5||6||0|
|Total Closed $ Volume||$65.7M||$15.6M||$36.1M||$6.3M||$8.7M||0|
|Total Current Listings||75||139||49||67||19||23|
*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