Print
Real Estate - Residential

Report: Most Affordable Beach Housing

By Cece Nunn, posted Aug 10, 2018
The home at 5227 E Beach Drive, listed by Hank Troscianiec & Associates, sold for $281,130 on July 31. (Photo courtesy of Coldwell Banker Sea Coast Advantage)
Brunswick County’s most populated beach town is also the most affordable, home sale statistics show.
 
Oak Island was the most affordable and active of eight popular beach communities in the Cape Fear region in June, with 70 homes sold at a median price of $267,500, according to an analysis of N.C. Multiple Listing Service data by Coldwell Banker Sea Coast Advantage.
 
The analysis looked at the closed residential sales volume for the month of June compared to last June in New Hanover, Brunswick, Pender and Onslow counties. Oak Island’s median sales price was below the record-setting national median price of $276,900 for all housing types shared in July in the National Association of Realtors’ (NAR) Existing Home Sales report for June, the study showed.
 
“Oak Island set the standard for beach affordability while neighboring Brunswick County communities Sunset Beach, Ocean Isle Beach and Holden Beach all had June median prices in the $400,000s.” the release said.
 
“We have quite a few buyers from Charlotte, Raleigh, Cary and Greensboro purchasing second homes and, of course, continued interest from Northeasterners,” said Carol Averitte, managing broker of Coldwell Banker Sea Coast Advantage’s office in Oak Island.
 
The release stated that New Hanover County’s Carolina Beach saw a lack of inventory lead to quick sales and a dramatic decrease in June sales. According to the release, 41 homes sold in Carolina Beach in June, down almost 36 percent from a year ago, in just 67 days, which was half of last June’s time on market.
 
“The seller’s market saw prices increase year-over-year by 3.8 percent to $305,000. Neighboring Kure Beach, in contrast, saw June home sales jump to 19, an increase of more than 216 percent from June 2017, while days on market rose 18 percent to 101 and median prices decreased 11.7 percent to $425,000,” the release stated.
 
Wrightsville Beach is the most expensive by far of the area’s beach communities, according to the analysis, which showed sellers waiting almost 200 days to close while the 14 homes sold in June had a median price of $894,999.
 
“We have had 37 homes over $1 million sell in Wrightsville Beach over the last year. But you can still find small 500-square-foot original cottages mixed in with our incredibly beautiful homes,” Sherri Pickard, managing broker of the Autumn Hall office of Coldwell Banker Sea Coast Advantage, said in the release.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Johndevaneycapefearclinic300x300

Cape Fear Clinic Pharmacy

John Devaney - Cape Fear Clinic
Yasminheadshotwithlogo

How Reading Works

Yasmin Tomkinson - Cape Fear Literacy Council
Beckybrown 1041811127

Are there Tax Benefits to Home Buying Before Year-End?

Becky Brown - KBT Realty

Trending News

Pender County To Get Another Distribution Firm

Christina Haley O'Neal - Dec 13, 2018

Why This House Coming To Marsdon Avenue Is Unique

Cece Nunn - Dec 14, 2018

Info Junkie: Chandler Hatch

Staff Reports - Dec 14, 2018

Recruiters Talk Challenges In Hiring And Retaining Tech Talent

Johanna Cano - Dec 12, 2018

Supplying This Year's Oyster Season

Jessica Maurer - Dec 14, 2018

In The Current Issue

Storm Still Hitting Beach Bookings

With the 2018 holiday season in full swing, nearly a third of Wrightsville Beach’s hotel rooms remain unavailable for booking because of dam...


Top Stories No. 5: Industrial Companies Announce Investments

2018 Year in Review: New jobs and investment came to the Wilmington area or are in the works because of a series of industrial announcements...


Top Stories No. 8: Voters Usher In Party Change

2018 Year in Review: November election results left the New Hanover County Board of Commissioners with a Democratic majority, which has not...

Book On Business

The 2018 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2018 Power Breakfast - Dishing on the Restaurant Biz
2018 WilmingtonBiz Expo - Keynote Lunch with Eric Dinenberg, Rouse Properties
2017 Health Care Heroes