Wilmington N.C.- Apparently there is something about May, something that attracts luxury home buyers to southeastern North Carolina. May is traditionally the hottest month for the luxury housing market.
For instance May of 2021 went down in the books as the best month ever in the tri-county luxury sales. Back then a total of 71 homes sold for a collective $110.5 million. This May that record was broken by more than $17 million. In the 31 days of May 2022 once again 71 homes sold. This time the collective value was $127 million.
Those numbers include two recorded breaking transactions that set new marks for the most expensive sale in New Hanover County history. Both of the homes are located on Figure Eight Island just a few doors down from each other.
On Friday May 20th the oceanfront estate at 6 Beach Road South sold for $9,500,000. The property measures 4,933 square feet with four bedrooms and five and a half bathrooms. It was listed by Sam Crittenden of Landmark Sotheby’s International Realty and was under contract the same day it went on the market.
(6 Beach Road South, Courtesy Sam Crittenden Landmark Sotheby’s International Realty)
The very next week another oceanfront estate on Figure Eight Island broke the record again. The property at 260 Beach Road North closed on May 26th for $10 million. The two record breaking sales mark the 5th time in the last year that a new high sale has been set in New Hanover County.
“It’s conceivable that you may see additional records sets in the upcoming months,” said Scott Saxton of Just For Buyers Realty. “Right now there are two properties that are listed with asking prices over the new record. I know one of them is on Figure Eight, and the other on Wrightsville Beach. So the homes are out there, and as we have seen month after month the buyers are out there, too.”
|New Hanover County
May 2022 / May 2021
May 2022 / May 2021
May 2022/ May 2021
|Went Under Contract||38||14||31||9||11||4|
|Closed # Homes Sold||33||38||28||27||10||6|
|Total Closed $ Volume||$65.2M||$65.7M||$47.9M||$36.1M||$13.9M||$8.7M|
|Total Current Listings||81||75||85||49||26||19|
*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