Wilmington, N.C- For the second consecutive year, the tri-county luxury housing market has surpassed the billion-dollar threshold. High-end home sales in New Hanover, Brunswick, and Pender Counties marked their second most profitable year ever, just falling short of the records set in 2022.
From January 1 to December 31, 2023, a total of 635 homes with a price tag of at least $1 million were sold, amounting to a collective $1,027,655. This compares to the previous year when a total of 663 homes were sold for a combined $1.059 billion. On average, 2.5 fewer luxury homes were sold every month in 2023 compared to 2022.
“I am not concerned at all that the number slightly dipped from year to year,” said Scott Saxton of Just For Buyers Realty. “You’ve got to remember that 2022 was a crazy competitive year. What’s amazing is that in 2023, when things were slower, we still managed to post incredible volume. What that says is the Cape Fear region is a luxurious area where people are willing to pay big bucks to move to.”
Here are the top five years for luxury home sales in the tri-county area. Although sales were slightly lower year-to-year, 2023 ended by posting the best December ever recorded.
| RANKING | YEAR | NUMBER OF HOMES SOLD | TOTAL VOLUME |
| 1 | 2022 | 663 | $1.059 Billion |
| 2 | 2023 | 635 | $1.027 Billion |
| 3 | 2021 | 558 | $926.2 Million |
| 4 | 2020 | 361 | $594.1. Million |
| 5 | 2005 | 268 | $414.8 Million |
Although sales were slightly off year-to-year, 2023 ended by posting the best December ever recorded.
Last month a total of 46 luxury properties sold in the Cape Fear region for a total of $87.1 million. That is compared to December 2022 when 42 luxury properties sold for a total of $63.7 million.
The most expensive home to sell last month is located at 7 Cowrie Lane on Wrightsville Beach. The ocean-front house measures 5,735 square feet with five bedrooms and six and a half baths. The home was listed by Peter Sawyer of Berkshire Hathaway HomeServices Carolina Premier Properties. It was on the market for 100 days before going under contract. The sale closed on December 12th for $10,650,000, making it the fourth most expensive real estate transaction ever in the Cape Fear region.
| New Hanover County
Dec. 2023 / Dec. 2022 |
Brunswick County
Dec 2023 / Dec 2022 |
Pender County
Dec 2023 / Dec 2022 |
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| Newly Listed | 33 | 13 | 16 | 19 | 3 | 5 |
| Went Under Contract | 25 | 6 | 18 | 2 | 4 | 0 |
| Closed # Homes Sold | 22 | 19 | 22 | 17 | 2 | 6 |
| Total Closed $ Volume | $48.1M | $30.0M | $35.9M | $25.5M | $2.6M | $8.2M |
| Total Current Listings | 124 | 77 | 131 | 91 | 33 | 23 |
*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 info@JustForBuyersRealty.com, or visit www.JustForBuyersRealty.com