JFB Newsletter May 2023 Volume 2
The “Other Shoe” May Be Dropping as Home Prices Fall in 16 Popular Cape Fear Communities
The JFB has studied recent sales in 40 of the most popular neighborhoods in the Cape Fear region. In the majority of those communities the average home price has increased by 13%. However in 16 of the most popular neighborhoods the prices are starting to come down. Learn more.
Can a Bridge be Transformed into a Park
In the photograph above is pictured the Walnut Bridge in Chattanooga, Tennessee. It was built in 1890, but age took its tool and in 1978 the bridge was closed down to vehicle traffic. Even though a replacement bridge soon went up, Chattanooga leaders desperately wanted to safe their old landmark… and so for the last 40 years it’s been operating as a walking park. Now some folks in Wilmington want to do the same thing here. Learn more.
Brunswick Forest has Plans to Get Even Bigger
It is already one of the largest neighborhoods in the Cape Fear Region. Now Brunswick Forest wants to add another 306 single-family homes. If approved, the section would be the 9th expansion of Brunswick Forest since it first hit the market in 2007. Read more
Luxury Housing Market Slows in April
Last month a total of 42 luxury homes, with a price tag of $1 million or more, sold in the Cape Fear region for a total value of $61.5 million. Those numbers are significantly down from the previous year. One of the homes that did sell last month is one of the largest estates in Landfall. Find out more about this 8,500 square foot property.
April Showed a Slight Increase in Homes Going Under Contract
For the first time since late summer the number of homes to go under contract in the Cape Fear Region has gone up when compared to the same time last year. In April of 2022 a total of 1,084 went under contract throughout New Hanover, Brunswick and Pender Counties. This April that number jumped to an even 1,100. That’s only an increase of 1.5%, but it’s the first increase in pending sales since September. It’s even more impressive when you see how fewer homes are listed right now.
Why this Former New Yorker L.O.V.E.S Life in North Carolina
Eileen Murphy is one of the tens of thousands of people who packed up their life in New York and set off for the Carolina coast. In 2019 Eileen and her husband left Long Island and headed toward the town of Sneads Ferry, North Carolina. “You can’t beat the lower taxes, the uncrowded beaches where you can bring your pups, restaurants with local seafood,” said Eileen. “This really is one of the best things we’ve ever done, I just wonder why we didn’t come down earlier.”
Attached is a gallery of some of the pictures that Eileen has taken since starting out on this new adventure.