Houses For Sale in Wilmington NC - Tri-county Luxury Housing Market Shatters One Record in March, Falls Short of Another

Wilmington, N.C.- The tri-county luxury housing market posted its best March ever. A total of 65 homes sold during the month for a combined total of $98.4 million. That breaks a record that was set only last year when 52 luxury homes sold for $93.2 million. March became the 22nd consecutive month when luxury homes sales have experienced increases in year-to-year sales. The streak started in June 2020.

In addition to becoming the best March ever recorded on the books, last month fell just short of setting another record. It just missed the all-time mark for most sales, falling short by 5 homes. Instead it goes down as the second most profitable month only behind last May when 71 luxury homes sold for $110 million.

“The market has been hot for some time consistently, but March typically ushers in the start of the busiest season,” said Scott Saxton of Just For Buyers Realty. “That’s true with luxury sales and across the board. Between now and the end of September, maybe middle of October, everything is in high gear.”

One of the most expensive homes to sell in March is located at 7641 Masonboro Sound Road. The five bedroom, four and a half bath property measures more than 4,300 square feet. It is a custom built home that overlooks the salt marsh. The home was only on the market for six days before going under contract. It was listed by Sam Zeko of Radio Island Realty. The transaction closed on March 21st for $2.9 million.

In addition to the sales, another 71 luxury properties went under contract in March and another 97 made their debut on the market as a new listing. “Both of those numbers are important, but I am very pleased with the new listings,” said Saxton. “The biggest problem we are facing is the low inventory, so when 97 luxury homes come on the market that gives luxury buyers more options and maybe even more leverage .”

	New Hanover County March 2022 / March 2021		Brunswick County March 2022/ March 2021		Pender County March 2022/ March 2022
Newly Listed	46	27	38	18	13	3
Went Under Contract	36	17	26	11	9	2
Closed # Homes Sold	30	29	24	21	11	2
Total Closed $ Volume	$48.9M	$62.8M	$34.3M	$27.7M	$16.7M	$2.6M
Total Current Listings	61	71	53	41	16	9

*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