Wilmington, N.C.- In February more luxury homes sold in Brunswick County than New Hanover County. (Luxury properties are regarded as those with a price tag of $1 million or more.)
Last month 19 luxury properties sold in Brunswick County for a total of $31.5 Million. That is compared to 17 such transactions in New Hanover County which closed for a total sum of $28.5 million. And while that is not a huge difference it does highlight kind of a competition that has developed between the two neighboring counties.
For the last seven months, starting in August, the two counties have been neck and neck in sales numbers with Brunswick outperforming New Hanover in four of those months.
“I think this has to do with an overall inventory crisis,” said Scott Saxton of Just For Buyers Realty “All three counties have seen a decrease in inventory, but it is most noticeable in New Hanover County where inventory is down by 35% from last year and 67% from two years ago. So if you are a luxury buyer, and you really want to be by the water, Brunswick County has more beaches, and at the moment more opportunities and selection for buyers.”
In addition to leading in sales for the month, Brunswick County also had the three most expensive deals in February. Taking the top honors is the five bedroom, four and a half bath home located at 53 Craven Street in Ocean Isle. The property was listed by the Sarah Harris Team of Intracoastal Realty. It measures just over 5,000 square feet and is located on the Intracoastal Waterway. The house was under contract after only nine days on the market. It sold on February 24 for $3,250,000.
When you combine all three counties, February became the 21st consecutive month with a year-to-year increases in sales. A total of 39 luxury properties sold in the tri county area for a total of $64.3 Million.
| New Hanover County
FEB 2022 / FEB 2021 |
Brunswick County
FEB 2022/ FEB 2021 |
Pender County
FEB 2022/ FEB 2021 |
||||
| Newly Listed | 24 | 18 | 20 | 13 | 7 | 2 |
| Went Under Contract | 26 | 28 | 17 | 13 | 11 | 3 |
| Closed # Homes Sold | 17 | 15 | 19 | 8 | 3 | 2 |
| Total Closed $ Volume | $28.5M | $21.8M | $31.5M | $11.9M | $4.3M | $2.9M |
| Total Current Listings | 46 | 71 | 45 | 40 | 13 | 11 |
*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 Just For Buyers 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 scott@JustForBuyersRealty.com, or visit www.JustForBuyersRealty.com