13TH ANNUAL REAL ESTATE ROUNDUP Home prices in the Cape Fear region are again on the rise. Sales were steady through 2013. BY PAT BRADFORD │ PHOTOGRAPHY BY ALLISON POTTER Cutline for Myrtle_8707.tif “IT WAS A GOOD YEAR,” PHOTO COURTESY OF BUZZY NORTHERN 55 Sales of residential property in New Hanover County accounted for more than $1 billion in property changing hands, up 15 percent over 2012. These figures reflect a 49.5 percent increase in sales volume over the dismal countywide postings for 2011. says Vance Young of Intracoastal Realty, who was ranked No. 1 in the county with a combined sales and list total of 96, for a total of $58 million in sold property in New Hanover County. “I am delighted that things are trending in the right direction, finally. The mar-ket peaked in ‘05-’06, it fell in ‘07 and crashed in ‘08 and really didn’t bottom out until the fourth quarter of probably ‘11. 2012 was a bottoming recovery and in ‘13 it started to turn up,” Vance Young says. Two companies vied for the top bragging rights: highest sold volume went to Intracoastal Realty with $554 million, representing 1,631 units reported in Realtor list and sold volume; while Coldwell Banker Sea Coast nailed down more units sold, but less overall dollar volume. Sea Coast posted 1,721 units in sold and listed transactions combined for a volume of $396 million. “I would say the primary home market has really recovered very nicely,” Vance Young says. “The second home market is still lagging behind. I wouldn’t say we are in a good rhythm yet with regard to the second home buyer.” View from No. 10 Bayberry Place No. 6 Myrtle Court www.wrightsvillebeachmagazine.com WBM
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