The New Hanover County luxury market has started off this year with its best January home sale numbers in more than a decade, according to a report released this week.
Eight luxury homes in New Hanover, with price tags of $1 million or more, sold during the first month of 2019, stated a report by Kathleen Baylies, broker in charge at Just for Buyers Realty in Wilmington.
"That far exceeds last January when only three such homes sold," the report stated.
The total value of the eight homes was more than $10.5 million. According to the report, the last time January luxury numbers did this well in New Hanover was in 2008, when eight luxury homes sold for a total of about $14.5 million.
“Those are strong numbers,” Baylies said in a news release. “But what’s really interesting is the number of high-end homes that went under contract [11 in New Hanover] in January, because that bodes well for February and March.”
They include four homes that had listing prices above the $2 million mark, the report stated.
According to Baylies, the most expensive home that went under contract in January is at 14 Southridge Road in Wrightsville Beach, with a listing price of $4.25 million. The oceanfront home is more than 5,200 square feet with two master suites, four additional bedrooms and a bonus room on the fourth floor.
Another 15 luxury homes came on the market in January, the report stated, but New Hanover County still currently has its lowest inventory of seven figure homes in several years.
At this time last year, 164 homes were for sale priced at $1 million or more, according to the report, which was compiled from N.C. Regional Multiple Listing Service statistics.
This year, that number has dropped by more than 40 percent to 96, Baylies wrote.
City Club, Event Center On The Market For $7.5 Million
Emma Dill
-
Apr 16, 2024
|
|
Wilmington Tech Company Tapped For Federal Forestry Contract
Audrey Elsberry
-
Apr 15, 2024
|
|
Commercial Real Estate Firm Promotes Adams, Mitchell To Vice President Roles
Staff Reports
-
Apr 16, 2024
|
|
New Hanover Industrial Park To Get $3.3M In Incentives For Expansion, New Jobs
Emma Dill
-
Apr 15, 2024
|
|
Gravette Named Executive Director Of Nir Family YMCA
Staff Reports
-
Apr 16, 2024
|
With millions in committed funding from New Hanover County and the New Hanover Community Endowment, along with a land donation from the city...
Michelle Penczak, who lives in Pender County, built her own solution with Squared Away, her company that now employs over 400 virtual assist...
“Our little town, especially the mainland area, is growing by leaps and bounds. So having somewhere else besides the beach for kids to go an...
The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.