Wilmington, NC- In August of 2005 a marina near Middle Sound Loop road sold for $5,264,000. Because that commercial property included a three bedroom, two bath living quarters the transaction went on the books as a residential sale. For the last 15 years, the deal has been the most expensive ever recorded in New Hanover County.
That is until last month when another property edged out the record by $13,000.
On September 16, a home located at 1625 Futch Creek Road sold for $5,277,000. The home was built in 2014 and designed by Wilmington architect Michael Keristing. It sits on a knob on the creek, with water surrounding it on three sides. It’s 5,400 square feet with four bedrooms and four and a half baths. The property was listed by Tory Kuehner of Landmark Sotheby’s Realty. It was on the market for just three days before going under contract.
(1625 Futch Creek Road, Courtesy Landmark Sotheby’s Real estate.)
The deal was just one during a month that saw each of the three area counties out perform the marks from last year. In New Hanover County, 22 homes with a price of $1 million or more sold for a collective value of $43.2 million. In Brunswick County, a dozen homes sold for a total of $15.8 million. And four homes sold in Pender County for a total of $5.5 million.
In addition to the sales that closed another 50 luxury homes went under contract in September. “That is a huge number and it’s part of a larger trend” said Kathleen Baylies Broker-In-Charge of Just For Buyers Realty. “Since June 210 luxury properties have gone under contract and that is far and away our best summer ever.”
| New Hanover County
Sept 2020 / Sept 2019 |
Brunswick County
Sept 2020 / Sept 2019 |
Pender County
Sept 2020 / Sept 2019 |
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| Newly Listed | 33 | 20 | 22 | 9 | 5 | 2 |
| Went Under Contract | 29 | 17 | 21 | 0 | 10 | 1 |
| Closed # Homes Sold | 22 | 10 | 12 | 5 | 4 | 1 |
| Total Closed $ Volume | $43.2M | $19.3M | $15.8M | $7.3M | $5.5M | $1.1M |
| Total Current Listings | 101 | 140 | 65 | 81 | 14 | 20 |
*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 Kathleen Baylies, Just for Buyer’s Realty Broker in Charge. 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 Kathleen@JustForBuyersRealty.com, or visit www.JustForBuyersRealty.com
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