Wilmington, N.C.- A New Hanover County home, located on Figure Eight Island, became the most expensive residential real estate transaction in the history of North Carolina, when it sold last month for $13.9 million.
The oceanfront estate is located at 102 Beach Road South. It measures 6,700 heated square feet and features five bedrooms and eight bathrooms. It was custom-built in 2019 by J. Long Custom Homes. The home was listed by Nick Phillips with Landmark Sotheby’s Realty and was on the market for only 12 days before going under contract.
The sale set the new record for a residential real estate in North Carolina. It surpassed the previous record of $13 million, set in August 2023 by another oceanfront home on Figure Eight Island.
The record breaking sale was one of 65 luxury properties, homes with a price tag of $1 million and more, that sold in the tri-county area during the month of July. Those homes closed for a collective $132,4 million. The month far out paced July of 2023 when 49 homes sold for a combined for $75 million.
“The luxury real estate market in the Cape Fear region is booming, driven by a growing number of affluent buyers who are discovering the allure of the Carolina coast,” said Scott Saxton of Just For Buyers Realty. “More and more, we’re seeing high-net-worth individuals from across the country and even internationally, seeking exclusive oceanfront properties like those on Figure Eight Island. For these buyers, proximity to the ocean is not just a preference—it’s a priority. The pristine beaches and serene coastal lifestyle are drawing them in like never before.”
|
New Hanover County July 2024 / July 2023 |
Brunswick County
July 2024 / July 2023 |
Pender County July 2024 / July 2023 |
||||
|
Newly Listed |
51 | 47 | 47 | 21 | 8 | 4 |
| Went Under Contract | 33 | 39 | 25 | 31 | 11 | 7 |
| Closed # Homes Sold | 35 | 24 | 26 | 21 | 4 | 4 |
| Total Closed $ Volume | $85.2M | $40M | $41.1M | $30.5 | $6.1M | $4.5M |
| Total Current Listings | 149 | 116 | 168 | 115 | 55 | 27 |
*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