After a record-breaking first quarter, the Cape Fear luxury housing market continues its momentum with another exceptional performance in April.
On track to potentially become one of the most profitable years on record, the high-end housing market displayed relentless vigor throughout April. Last month, a total of 62 luxury properties (homes priced at $1 million or more) were sold in the tri-county area of New Hanover, Brunswick, and Pender Counties, boasting a combined value of $96.3 million. These figures represent a significant increase compared to April 2023, when 42 homes were sold, totaling $61.5 million in sales.
Scott Saxton, from Just For Buyers Realty, remarked, “What’s particularly intriguing about last month is that the numbers are not skewed by one massive sale. In recent months, we’ve witnessed high-end transactions ranging from $8 million to $10 million, which can distort the overall picture. However, in contrast, last month’s highest sale was $3 million—an impressive figure, yet within the typical price range for high-end coastal homes. This indicates a robust and consistent market, alleviating any concerns.”
Among the notable sales last month was a property located at 5824 Harbor Breeze Drive in Wilmington’s Helms Port neighborhood. This custom-built estate, boasting just under 4,600 square feet across three floors, features five bedrooms and four and a half baths. Impressively, it went under contract within four days of being on the market. Listed by John A Theodorakis of Intracoastal Realty Corp, the transaction closed on April 30th for $2,825,000.
| New Hanover County
April 2024 / April 2023 |
Brunswick County
April 2024/ April 2023 |
Pender County
April 2024/ April 2023 |
||||
| Newly Listed | 53 | 37 | 45 | 26 | 11 | 10 |
| Went Under Contract | 48 | 18 | 40 | 21 | 14 | 6 |
| Closed # Homes Sold | 20 | 18 | 36 | 19 | 6 | 5 |
| Total $ Volume Sold | $30.8M | $27.3M | $56.5M | $27.3M | 9M | $6.9M |
| Total Current Listings | 143 | 102 | 159 | 89 | 38 | 25 |
*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 advocates, 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