A Wilmington-based residential real estate firm surpassed $2 billion in sales this week, according to an announcement Thursday.

The closed sales volume milestone, achieved Aug. 17 by Coldwell Banker Sea Coast Advantage, marks the third consecutive year the brokerage has exceeded the $2 billion mark, a news release stated.

“This milestone represents the tremendous trust our clients place in us, as well as the level of satisfaction they have in our services,” said Denise Kinney, president of Coldwell Banker Sea Coast Advantage, in the release. “Achieving the goal this year is especially impressive, not only because we still have four months remaining in the year, but also because the low housing inventory coupled with increased demand has presented a completely new set of challenges for buyers, sellers, and our agents.”

Some of those challenging market trends contributed to a slowdown in July in the Wilmington area's home sales, according to local agents and Cape Fear Realtors statistics.

But Sea Coast Advantage CEO Tim Milam said last week that he thinks the market will pick back up again as interest rates remain low.

“I am so proud of how we have responded to the unique demands of this market,” Milam said in Thursday's release. “The agents have worked tirelessly for our clients and remained committed to providing the highest level of customer service. And our management team and administrative staff have provided training, marketing materials and advanced technology platforms to support them in achieving their goals.”

Last week, the firm announced the opening of a new Sea Coast office in Boiling Spring Lakes.

Coldwell Banker Sea Coast Advantage has an ownership interest in Coldwell Banker Advantage, which serves major markets including Raleigh and the Triangle, Fayetteville, Southern Pines, Greensboro, Winston-Salem, and the Triad. The Advantage network encompasses 56 offices and more than 1,900 agents, the release stated.

In 2020, the Coldwell Banker Sea Coast Advantage family of companies ranked in the top 1% of Coldwell Banker firms, a network of 96,000 agents worldwide, according to the release.