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Real Estate - Residential

Report: Luxury Home Sales March Happily Into Spring

By Cece Nunn, posted Apr 5, 2019
In the Wrightsville Beach neighborhood of Duneridge Estates, the home at 14 Southridge Road sold for nearly $3.7 million in March. (Photo courtesy of Intracoastal Realty)
The luxury housing market in New Hanover County during the month of March outperformed the numbers reached in March 2018 in each statistical category, according to a report issued this week by a local real estate firm.

Last month, more homes valued at $1 million or more were sold, more went under contract with sales pending in the next few months, more new listings came on the market, and the inventory of luxury homes continued to decrease from year to year, stated the report, compiled by Kathleen Baylies, broker in charge of Just for Buyers Realty.

Nine luxury homes sold in New Hanover County, compared to seven last year. The homes had a cumulative value of $15.1 million compared to $14.9 million in 2018, the report, which is based on N.C. Regional MLS data, stated. 

The most expensive home to close last month, the report stated, is at 14 Southridge Road in Wrightsville Beach.

The oceanfront home in Duneridge Estate was listed by Susan Keck of the Valentine-Wallace Group of Intracoastal Realty. Team Hardee Hunt & Williams represented the buyer.

The home measures more than 5,200 square feet, with six bedrooms and eight bathrooms spread out over four floors. The final sale price was nearly $3.675 million.

Keck said it was also the most expensive sale on the north end of Wrightsville Beach since 2007 and the highest price ever fetched for a home in Duneridge Estate, a luxury neighborhood.

Overall, last month month's numbers followed "a trend that saw both January and February of 2019 outpace their 2018 counterparts," the report stated.

The first quarter this year fell short of an all-time record, according to the report. By the final day of March, 25 luxury homes had sold in the county since the beginning of the year, marking the third-best opening quarter ever, falling behind 2005 when 27 homes sold, and 2006 when 32 homes sold, the report stated. 

“It doesn’t look like things are going to slow down any time soon,” Baylies said in the release. “To me, the most interesting stat is 24 homes in the tri-county area went under contract in March. Add that to contracts signed earlier in the year, and we now have 32 luxury homes sales pending. That suggests the numbers for April and May closings could be rather impressive.”
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