62 WBM february 2014 munities, saw an increase in the number of properties sold, a 36-percent increase for the former, while a more modest 10-percent increase was seen at Landfall. The remaining communities saw a decrease in the number of proper-ties sold: Wrightsville decreased 14 percent, Pleasure Island 6 percent, and Porters Neck 16 percent. Realtors credit this to declining inventory. DECLINING INVENTORY Inventory, the availability or lack of it, played a substantial part in the 2013 Wrightsville Beach sales picture, Realtors say. Debbie Mitchell is also ranked No. 2 at Wrightsville Beach, selling 12 properties for a combined volume of $9 million at Wrightsville. “The inventory presented a little bit of a problem,” she says. “We didn’t have as much inven-tory as the year was progressing out of the downturn. A lot of the backlog of inventory started selling, then, the beach didn’t have as much inventory. It wasn’t that we didn’t have buyers, but we didn’t have the inventory to sell to some of the buyers,” she says. Declining inventory creates momentum for prices to increase. In the shadow of the Wrightsville drawbridge, No. 10 Marina Street Unit A4 sold in June for $480,000. This commercial zoned condo is just 726sf, one-bedroom, one-bath.
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