31
Top 10 Real Estate Companies
in New Hanover County
combined
Total Sold List Sold $Volume
Intracoastal Realty Corp. 548 495 1043 $385,865,535
Coldwell Banker Sea Coast 706 659 1365 $293,962,830
Century 21 Sweyer &Associates 251 247 498 $105,347,365
Prudential Laney Real Estate 145 191 336 $83,244,077
CENTURY 21 Brock &Associates 146 43 189 $36,938,435
Coastal Properties 74 88 162 $33,346,850
Keller Williams Realty 60 83 143 $31,350,774
Live Oak Real Estate 108 59 167 $28,498,359
Wilkinson & Associates 44 76 120 $28,108,828
RE/MAX Essential 69 66 135 $27,579,481
All Companies — Combined List and Sold volume $1,465,138,596
www.wrightsvillebeachmagazine.com WBM
and one bath, the home sold for $416,000
in May.
The highest sales price paid for a
Wrightsville property was $2.7 million,
which equaled $592 per square foot. This
top-dollar sales price was down 16 per-cent
from 2009. The house, 807 South
Lumina Avenue, a traditional, cedar-shingled
oceanfront home on the desirable
south end, sold in February. The classic
1996 five bedroom and six bath cottage is
described by listing agent Lee Crouch of
Intracoastal Realty as a great buy. “That
house appraised for almost $4 million,
three years ago.” Of the reduction in high-dollar
sales at Wrightsville, several factors
are at play, Crouch says. “I think buyers
are looking for values, and they are getting
them. The other thing, if someone will
spend $4 million, they want a huge house.
I sold one at Figure Eight for $4 million,
but, in its day, it would have been $6
million.” Lee Crouch notes the third con-tributing
factor of cash flow: the increased amount of the purchase
required by lenders to be buyer funds.
The top price based on dollars per square foot was 302 Water
Street, which sold for $1,450,000 in late August, which was $689
per square foot. The sales price on this western-facing, deepwater,
soundfront home on a bulkheaded lot on Banks Channel on the
desirable south end was 55 percent lower than its original list price
of $3,250,000.
Additionally, four properties were under contract pending clos-ing
at year’s end: 10 Marina Street Unit A6, Shell Island Unit
913, and single family homes at 21 Shore Drive and
5 Bermuda Drive.
Two short sales in neighboring properties, located near the
Coast Guard station paint a picture of one aspect of what is occur-ring
in the market. Schloss Street had four Realtor-assisted sales,
two of which were short sales, and at least one private-party sale.
Schloss sits one street back from the waterfront, between South
Lumina Avenue and Water Street. It is a desirable location off
the main traffic arteries. Nos. 743 and 741 Schloss, next door to
each other, were built in 2006 by developers from Raleigh who are
friends. Built at the same time, each has five bedrooms and four
and a half bathrooms. Due to the downturn in the economy, both
sellers ended up working out short sales, at a price within $5,000
of each other. The smaller 741 Schloss Street sold for $960,000 to
Landfall Figure Eight Island Pleasure Island Porters Neck
2008 2009 2010 2008 2009 2010 2008 2009 2010
$14,960,000 $18,231,938 $12,931,910 $93,405,066 $85,405,212 $93,645,312 $24,235,079 $17,556,813 $32,298,002
5 10 6 266 288 336 47 35 61
$3,665,000 $3,400,000 $4,000,000 $1,836,000 $1,550,000 $1,175,750 $2,250,000 $1,575,000 $1,724,250
184 282 158 154 283 186 119 215 173
$2,992,000 $1,823,194 $2,155,318 $351,147 $296,546 $278,706 $515,640 $501,623 $529,475
$3,100,000 $1,600,000 $2,150,000 $310,000 $259,950 $250,000 $493,000 $432,500 $480,000
$4,475,000 $4,400,000 $5,200,000 $9,700,000 $2,599,900 $2,870,900 $6,550,000 $4,250,000 $2,500,000
38 34 37 751 464 402 98 57 43
0 8 1 29 27 19 7 11 8
n/a n/a n/a n/a n/a 36 n/a n/a 2