Tuesday, August 16, 2022

Sales of homes worth $1 million (and higher) hit all-time record in New Hanover County

The house at 202 Nun St., known as "The Verandas," is listed for over $2 million. It is part of a very strong luxury home market it New Hanover County.
The house at 202 Nun St., known as ‘The Verandas,’ is listed for over $2 million. It is part of a very strong luxury home market it New Hanover County. (Port City Daily photo / COURTESY OF INTRACOASTAL REALTY CORP.)

WILMINGTON — The $2,199,000 dollar house known as “The Verandas” sits on Nun Street in downtown Wilmington. It is one of 16 luxury houses — those listing for $1 million or more — listed in September. The luxury home market in New Hanover County had its all-time best September, according to a report released by Kathleen Baylies, broker in charge at Just For Buyers Realty.

According to the report, 11 homes with a total value of $21.29 million were sold in the month of September; this breaks by a considerable margin the previous record of nine houses valuing a total of $16.42 million, set in September 2009.

Brunswick County also saw “robust” luxury home sales, according to the report. Five properties – valuing $6.71 million – were sold, nearly three time the sales of the September 2016.

According to Baylies, “Buyers who fuel the luxury market are feeling more confident about committing to high-end homes.

She added, “We’re seeing a high level of confidence in the stock market and that causes people to feel good about their own job security and the prospect for future growth.  Buyers are feeling as if a luxury purchase is less risky than they did a few years ago.”

September 2017 versus September 2016 luxury home sales in New Hanover, Brunswick and Pender County, statistic from the North Carolina Regional Multiple Listing Service.

New Hanover County

Sept 2017  / Sept 2016

Brunswick County

Sept 2017  / Sept 2016

Pender County

Sept 2017 / Sept 2016

Newly Listed 16 16 4 7 1 1
Went Under Contract 10 7 0 3 0 2
Closed # Homes Sold 11 4 5 2 0 0
Total Closed $ Volume $21.29m $6.22m $6.71m $2.28m 0 0
Total Current Listings 151 136 80 88 15 17

 

Related Articles