Home near Porters Neck Plantation sets New Sales Record

Wilmington- A five year old home off Bald Eagle Lane on Wilmington’s eastern side sold in March for a record setting $10.7 million. The transaction is the highest price paid for a residential home throughout the Cape Fear Region. The previous  record was set in May when a property on Figure Eight Island closed for an even $10 million. Prior to last year a home on Bald Head Island, that sold for $9.7 million in 2006, held the record.

“What’s amazing about this sale is that it came when we’re experiencing a market correction,” said Kris Summers of Just for Buyers Realty. “But just because the number of home sales are down, the prices continue to go up.”

The record breaking estate overlooks the Intracoastal Waterway. It measures more than 9,100 square feet with six bedrooms, seven full bathrooms and three half baths. The home was listed by a non-member agent, which means the seller was a real estate agent who is not part of the Cape Fear Board of Realtors.

The sale was one of 48 luxury transactions made throughout the tri-county area in March. Collectively the properties located in New Hanover, Brunswick and Pender Counties closed for a grand total of $80.7 million. That is a significant decrease from last year when 66 luxury homes sold for a collective 99.5 million in March 2022.