For the third year in a row, the luxury housing market in the Wilmington area has surpassed $1 billion.

It's never happened this early in the year, according to a luxury market report released Oct. 10 by Wilmington-based Just For Buyers Realty. In both 2022 and 2023, the milestone was reached with the final sales recorded in December, the report stated.

So far in 2024, 554 luxury homes (properties with a price tag of $1 million or more) have sold in New Hanover, Brunswick and Pender counties.

"These transactions have a combined volume of $1,016,480,567," according to the report. "That figure is just $12,000 shy of all of last year's luxury sales and only $47,000 below the all-time record high set in 2022."

In September, 54 luxury homes sold for a total of nearly $105 million compared to 56 during the same month last year for a total of $103 million. The home that sold for the highest price this September – more than $6.4 million – is located at 136 Skystasail Drive in Wilmington's Shandy Point community.

One of the listing agents for the Skystasail Drive property, Jessica Pirone of Wilmington-based Full Circle Real Estate, said the home had the necessary attributes to bring in seven figures. The waterfront property, which sits on just under an acre overlooking the Intracoastal Waterway, has four bedrooms and seven bathrooms in a 3,700-square-foot home. The house was originally built in 2011 before being revamped with high-end finishes and materials by the previous owners.

"It was totally renovated, top to bottom," Pirone said. "So many times, you see homes with high prices, and they still need work done."

Scott Saxton of Just For Buyers Realty said 2024 is expected to be "the most profitable year ever recorded" for the tri-county area's luxury market. He said, “This happened during a time when the nationwide real estate market hit a massive speed bump. Overall, this has been a slower-than-average year. So the fact that the luxury market is booming during this time is further proof that the North Carolina coast is growing in popularity."