Overall decrease in 2012 Tax values
for residential properties //
2012 2011 % decrease
Carolina Beach $1,362,368,995 $2,163,954,705 -37%
Kure Beach $755,973,277 $1,121,157,775 -33%
Wrightsville Beach $2,202,158,800 $3,008,526,198 -27%
City of Wilmington $7,577,417,464 $9,137,499,162 -17%
Fire District $7,965,526,763 $9,656,412,279 -18%
NHC $19,863,445,299 $25,087,550,119 -21%
In duplex sales, Wrightsville saw nine
traditional duplex and two triplex sales:
triplex Unit 3, a corporate sale at No. 9
Birmingham Street sold for $339,000 or
$254 per sf. And at 107 North Lumina,
Seawinds #C, sold for $207,500 or 419
per sf.
Of the nine duplex sales, all were
oceanfront or oceanview and none of
these were corporate sales.
The best buy in a Wrightsville duplex was 16B Greensboro
Street, which sold for $600,000. Built in 1997, this 4-bedroom,
4-bath unit sold in November for $257 per sf.
But the best buy, at $421 per sf may have really been No. 2
Chadbourn Street, the 4263 sf oceanfront luxury duplex that sold
for $1,750,000, (ironically, the price originally paid when the
unit was new construction in 2001).
Harbor Island saw two non-traditional duplex sales both on
Coral Drive: Nos. 17 and 301. They sold for $384,500 and
$395,000, respectively. Both are marsh front with sunset views
built in the early 1970s. The former was a corporate sale and the
latter was a short sale.
Harbor Island saw one sale in a quadraplex building,
211 Seacrest Drive Unit C. This 1983 soundview quad sold for
$362,500 or 319 per sf.
Two fractional sales were closed by Realtors, both on
Shearwater Street, at $99,900 and $100,000, respectively.
Pulling down the overall averages in any market, these frac-tional,
vacation ownership sales of weeks (only) of ownership
sink the average sales price, across the board.
Lot sales
There were four lot sales in Wrightsville Beach, a community
without much vacant land; two of these were on Harbor Island
and two on Wrightsville. The high sale was $750,000 for the
oceanview lot at 836 South Lumina Avenue and the low was
$317,000 for a lot with a water view at 22 Live Oak Drive. Just
12 days into the year, 103 Live Oak Drive also sold at a price of
$350,000 and 15 West Henderson brought a price of $400,000.
Looking Forward
The new tax valuations may or may not play a part of the
market this year, but tax appraisal values dropped at Wrightsville
from $3 billion to $2.2 billion (before all the appeals have been
filed or dealt with).
— R e a l e st a t e R o u n d u p 2 0 1 1 —
56
WBM february 2012
304 and 306 Coral Drive — Corporately
owned, these two new construction houses
(2005/06) sold at a bargan in 2011.
Data supplied by New Hanover County
Tax Administrator Roger Kelley.