Condo sales Wrightsville Beach //
Days On
Complex Name Address/Unit Sold Market
SeaPath Towers 322 Causeway Drive #503 425,000 190
#1101 495,000 114
#702 610,000 16
Shell Island Resort 2700 N. Lumina Avenue #119 162,000 154
#306 225,000 480
#308 244,000 34
#619 254,000 444
#617 255,000 263
#603 258,000 8
#913 272,500 438
Channel Walk 102 Captain’s Court 194,900 80
130 Driftwood Court 132,210 232
125 Driftwood Court 255,000 66
155 Driftwood Court 390,000 573
Lee’s Cut at Channel Walk 202 Lee’s Cut Lane 520,000 438
107 Lee’s Cut Lane 529,600 54
210 Lee’s Cut Lane 615,000 246
Dune Ridge 2400 N Lumina Avenue
Unit 1107 730,000 70
Unit 1210 875,000 21
Wrightsville Dunes 2506 N. Lumina Avenue 3A 685,000 531
2508 N. Lumina Avenue 2B 845,000 328
The Moorings 356 Causeway Drive
Unit 2 540,000 365
Unit 8 596,325 585
Marina Street 12 Marina Street B1 520,000 33
10 Marina Street A6 540,000 291
Lookout Harbour Lookout Harbor Way Unit 30 570,000 100
Station 1 95 S. Lumina Avenue
Unit 8J 490,000 1058
Unit 2I 490,000 573
Cordgrass Bay 2315 N. Lumina Avenue B Unit 535,000 41
2309 N. Lumina Avenue B Unit 735,000 394
The Islander 1704 N. Lumina Avenue
3D 535,000 5
5A 600,000 570
Other Condos 800 Square Feet or Less — Primarily Rental
Banks Channel Condo 624 Waynick Blvd Unit 106 275,000 422
Periwinkle 710 S. Lumina Avenue Unit 204 217,000 254
Sandpeddler Inn 15 Nathan Avenue Unit 103 182,500 338
Summer Sands Condo 104 S. Lumina Avenue Unit 106 117,000 133
Surf Motel 711 S. Lumina Avenue Unit 303 285,200 309
54
WBM february 2012
agent; buyers and buyers’ agents contact
and contract with the seller directly. It
sold for $1,250,000.
Twelve single-family homes sold on
Harbor Island for a combined total of 32
single-family homes. Ten of these were
water view or waterfront (two). Michelle
Clark says of this phenomenon, “That is
not necessarily surprising because people
always want waterfront and water view
and now is the time to buy; prices were
so high before, people couldn’t afford it,
and prices have come down, so now is the
time to get the waterfront and water view
you couldn’t get before.”
Eight of these single-family homes were
corporately owned and that number was
evenly divided between the two locations.
A striking example of the impact cor-porately
owned homes are playing can be
found in the December sales of techni-cally
new construction, twin houses at
306 and 304 Coral Drive. The homes are
mirror images of each other, constructed
on a subdivided lot, developer built in
2005/06. Both went back to the bank and
were sold for $620,000 and $621,500,
respectively. The calculated heated price
per square foot (sf) was $177 and $178.
Broker for those sales, Pat Canady,
Century 21 Sweyer and Associates
said in mid-January 2012 of the larger
Wilmington marketplace, “I think we
have hit bottom. Banks are less likely to
take a deal.” And that opinion plays out
in the selling price percentage over list
price, which for Harbor Island for just the
four corporate sales was 92.7 percent.
Non-corporately owned SFH proper-ties
saw more play between list and sold
price, with that average sinking to 88.44
percent, without the corporate sales.
Combined, the average was 89.86 per-cent
list to sales price for Harbor Island
single-family homes. The most expensive
house to sell countywide, 26 Island Drive,
brought 89.08 percent of its list price to
sell at $612 per sf.
The most economical buy at Harbor
Island was the two-story house at
15 Jasmine Place, built in 1959. It sold
for $376,951 or $166 per sf. This was a
corporate sale.
— R e a l e st a t e R o u n d u p 2 0 1 1 —