Wilmington, N.C. – In what has already been the most profitable year on record for the Cape Fear luxury housing market, October proved to be a mixed month. The number of closed luxury transactions last month was slightly down from October 2023, but the volume of those sales—meaning the total dollar amount—rose slightly.
In other words, fewer luxury homes sold last month, but those that did sold for higher prices.
A total of 66 luxury homes closed in October across New Hanover, Brunswick, and Pender Counties, totaling $110.1 million in sales. By comparison, in October 2023, 71 luxury properties sold for a combined $110 million.
“Even though the number of transactions was down slightly from last year, we’re still seeing strong demand and rising prices in this market. This is a positive sign for the stability and resilience of luxury real estate in the Cape Fear region,” said Scott Saxton of Just for Buyers Realty. “It shows that, despite fewer sales, buyers are willing to invest at higher price points, which speaks to the enduring appeal of this area and the unique value it offers.”
Brunswick County led the market in October with 35 luxury homes sold, totaling $54.7 million in sales. The most expensive property to sell in Brunswick County was located at 134 E First Street in Ocean Isle Beach. This five-bedroom, custom-built oceanfront home was crafted by the Mark Batson Group of Landmark Sotheby’s International Realty. Built in 2017, the estate spans more than 3,300 square feet and was on the market for 162 days before going under contract. The sale closed on October 16th at $4,150,000.
| New Hanover County
Oct 2024 / Oct 2023 |
Brunswick County
Oct 2024 / Oct 2023 |
Pender County
Oct 2024 / Oct 2023 |
||||
| Newly Listed | 39 | 39 | 5 | |||
| Went Under Contract | 17 | 19 | 5 | |||
| Closed # Homes Sold | 28 | 29 | 35 | 35 | 3 | 7 |
| Total Closed $ Volume | $54.2M | $38.6M | $54.7M | $47.7M | $3.8M | $11.9M |
| Total Current Listings | 127 | 159 | 35 | |||
Luxury homes 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