GREYSTONE INN AND 43 OTHER LUXURY PROPERTIES SELL IN JUNE
Wilmington, N.C.- In a town nicknamed Hollywood East, few homes pack the star power as the one located at 100 South Third Street in Wilmington. Not only is the Greystone Inn an iconic part of the downtown landscape, over the years it has hosted some of the biggest names in the entertainment industry including: Alan Alda, Dennis Hopper, Jay Leno and Tom Cruise. The property itself has appeared in several film and television productions, most notably Sleepy Hollow in 2013.
The twelve bedroom, twelve and a half bath house, was one of 42 luxury properties to sell last month in the tri-county area. Measuring more than 15,000 square feet, the Greystone Inn was the largest property on the market (it was 5,000 square feet larger than the next biggest home for sale.) The bed and breakfast was listed by the David Benford Group, Landmark Sotheby’s International Realty.
(100 South Third Street, Wilmington N.C. Courtesy David Benford Landmark Sotheby’s International Realty)
“I toured the property last year,” said Kathleen Baylies Broker In Charge of Just For Buyers Realty. “The sheer size makes a dramatic statement, but it was actually the smaller details that made the biggest impression; limestone exterior, sold brass light fixtures, an Italian Verde fireplace, and Honduran mahogany book shelves. It really is a unique home.”
The Greystone Inn sold on the June 22nd after spending two and a half years on the market. The selling price was $1,925,000, which was $325,000 below the asking price.
That bucks a growing trend of luxury sellers receiving offers at or over asking price. “We compared the list price to sale price of high end homes,” said Baylies. “From January 1 to June 30 this year 30.1% of all luxury home sales were at or above asking price. In 2020 and 2019, buyers had more leverage. Only 14% of luxury homes in 2020 and 9% in 2019 sold at or above the listed price.”
In addition to the luxury homes that sold in June, another 50 luxury properties went under contract during the month. June marks thirteen consecutive month were the luxury housing market saw increases in year-to-year sales.
| New Hanover County
June 2021 / June 2020 |
Brunswick County
June 2021 / June 2020 |
Pender County
June 2021 / June 2021 |
||||
| Newly Listed | 19 | 26 | 23 | 17 | 6 | 3 |
| Went Under Contract | 23 | 29 | 24 | 20 | 3 | 2 |
| Closed # Homes Sold | 23 | 20 | 15 | 8M | 4 | 4 |
| Total Closed $ Volume | $40.8M | $28.7M | $18.8M | $12.3M | $5.0M | $6.6M |
| Total Current Listings | 77 | 130 | 61 | 62 | 26 | 22 |
*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