Wilmington, N.C. – August proved to be a remarkable month for the local luxury housing market. Not only was it the most profitable month so far in 2023, but it also marked the record-breaking sale of the most expensive property in New Hanover County’s history. Additionally, Pender County achieved its highest sales performance ever!
In August, a total of 68 luxury properties (homes priced at $1 million or more) were sold in the tri-county area encompassing New Hanover, Brunswick, and Pender Counties. These transactions collectively amounted to $116.1 million. Previously, the highest sales figure for 2023 was reached in June, with 68 homes sold for a combined total of $111.1 million.
The remarkable success of August was notably enhanced by one record-breaking sale. On the 16th of the month, an estate located on Figure Eight Island at 10 Inlet Hook Road closed for an astounding $13 million. This transaction shattered the previous record for the most expensive home sale in New Hanover County, which was set in March with the $10.7 million sale of an estate on Wilmington’s Bald Eagle Road.
Scott Saxton of Just For Buyers Realty commented on this trend, saying, “This marks the 10th time since 2020 that the record has been broken. Three years ago, it stood at $5.3 million. Now, it’s $13 million! That’s an increase of 150%. It’s evident that individuals with substantial financial resources are discovering the appeal of the Cape Fear region.”
And more and more, luxury buyers are discovering Pender County.
Last month, Pender County achieved its highest-ever luxury home sales performance. A total of 13 homes were sold in Pender County during the 31 days of August, amounting to a remarkable $17.9 million in sales.
The most expensive home sold in Pender County last month was a 3,700-square-foot property overlooking the Intracoastal Waterway in the Old Pointe neighborhood. The property, listed by Lee Crouch of Intracoastal Realty, closed on August 25th for $2.8 million..
| New Hanover County
Aug 2023 / Aug 2022 |
Brunswick County
Aug 2023 / Aug 2022 |
Pender County
Aug 2023 / Aug 2022 |
||||
| Newly Listed | 46 | 52 | 60 | 39 | 17 | 12 |
| Went Under Contract | 14 | 9 | 11 | 10 | 5 | 0 |
| Closed # Homes Sold | 28 | 27 | 27 | 23 | 13 | 10 |
| Total Closed $ Volume | $57.3M | $46.8M | $40.9M | $35.1M | $17.9M | $14.1M |
| Total Current Listings | 140 | 119 | 171 | 106 | 34 | 43 |
*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