Wilmington, N.C. – For the fourth time this year and the second consecutive month, Cape Fear’s luxury housing market posted nine figures in sales in just one month. In August, a total of 74 luxury homes located in New Hanover, Brunswick, and Pender Counties sold for a combined net volume of $129,076,194. A luxury home is defined as any property listed for $1 million or more.
This total of 74 luxury homes sold in August edged out the same month in 2023 when 68 high-end homes were sold for a combined $116.1 million.
The other months in 2024 that also exceeded the nine-digit mark include May with $170.7 million in sales, July with $132.4 million in sales, and March with $130.5 million in sales.
“If we break the nine-digit mark again in September, that will bring the total sales for all of 2024 past the billion-dollar mark,” said Scott Saxton of Just For Buyers Realty. “The billion-dollar milestone has been surpassed in three other years, but we’ve never seen it surpassed this early. Barring a major market disaster, 2024 should go down as the most profitable year ever recorded for luxury sales in the Cape Fear.”
The most expensive home to sell last month
The most expensive home to sell last month in the Cape Fear region is located at 146 Beach Road South on Figure Eight Island. The five-bedroom, oceanfront home was built in 1977 and completely renovated in 2019. It measures just under 4,000 square feet with five bedrooms and four bathrooms. Listed by Buzzy Northen of Intracoastal Realty Corp, the luxury home was on the market for 97 days before going under contract. It closed on August 2 for $7,850,000.
| New Hanover County
Aug 2024 / Aug 2023 |
Brunswick County
Aug 2024 / Aug 2023 |
Pender County
Aug 2024 / Aug 2024 |
||||
| Newly Listed | 45 | 46 | 39 | 60 | 39 | 17 |
| Went Under Contract | 40 | 14 | 26 | 11 | 8 | 5 |
| Closed # Homes Sold | 36 | 28 | 29 | 27 | 9 | 13 |
| Total Closed $ Volume | $67.4M | $57.3M | $48.0M | $40.9M | $13.6M | $17.9iM |
| Total Current Listings | 152 | 140 | 174 | 171 | 54 | 34 |
*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