March Sets New Highs in Cape Fear Luxury Real Estate

Wilmington, N.C.—March proved to be an outstanding month for the Cape Fear luxury housing market, with exceptional performance across all key metrics, including the number of homes sold, total volume, new listings, pending sales, and current listings. Each of the three counties in Wilmington’s metropolitan area—New Hanover, Brunswick, and Pender—outperformed their March 2023 numbers.

Last month, 74 homes priced at $1 million or more were sold across New Hanover, Brunswick, and Pender Counties. The transactions totaled a combined volume of $130.5 million, surpassing March 2023, when 54 luxury properties were sold for a combined $86.4 million.

March also marked the end of the most profitable first quarter ever recorded in the Cape Fear luxury market. Since January, a total of 167 luxury properties have been sold in the tri-county area for a total of $282 million.

“When you look at the national media, the story seems to be a slowdown in the housing market, but that is not the case with high-end homes in our area,” said Scott Saxton of Just For Buyers Realty. “Though it’s still early in the year, the strong start suggests 2024 could break every record on the books.”

 

The single most expensive closing of the month involved two ocean-front homes located next door to each other in Kure Beach. The properties, located at 857 and 901 Fort Fisher Boulevard South, combined for 9,000 square feet of living space. The main house featured six bedrooms and seven bathrooms, while the guest house offered four bedrooms and four bathrooms. Both properties were listed by the Mark Batson Group of Landmark Sotheby’s International Realty and sold on March 5th for a total of $9,200,000.