67 119B South Lumina Avenue sold in early July for $1.55 million. It is five-bedrooms, five and one-half baths, built in 2006, located one lot back form the ocean. 322 Causeway Drive, Units 1108 and 1109 Seapath Towers The views from this top floor, totally renovated four-bedroom, four-full-bath condo rival any waterfront view around. Two combined units feature expanded living space and custom decor. Boat slip at adjoining marina available for purchase. $1,300,000 TEE WOODBURY Broker/REALTOR®, GRI 910-617-5561 800-533-1840 2005 Scrimshaw Drive Landfall Sweeping views of Nicklaus golf course. 4 bedrooms, 4 1/2 baths, large home office plus bonus space. 3-car garage. Fabulous layout. Offered at $1,069,000 Linda FrankLin Broker/REALTOR® 910.515.0764 www.wrightsvillebeachmagazine.com WBM THE INCREDIBLE DUPLEX Wrightsville Beach saw 14 duplex sales ranging in price from a modest $550,000 for the grandfathered, side-by-side, 1974 duplex at 12 Bahama Drive, all the way to the more than $2 million 547B South Lumina Drive, a five bedroom, five and one-half bath oceanfront unit on the south end, built in 2006. This duplex unit was one of the top 12 sales in the county. Eight Wrightsville Beach duplex units sold between $1 million and slightly more than $2 million. Three duplex units sold on Harbor Island, notable in that all three were on the Causeway, which traditionally sees few sales. All were waterfront with boat-docks. 312A Causeway Drive, built in 2005, a three bedroom, two and one-half bath with just 1,500sf, sold in April for $800,000, it offered an 18-foot boat slip. Then 428B Causeway Drive, with 2,100sf sold in May for $1.075 million. It features a 28-foot boat slip. Selling on the same day was 316B Causeway Drive, also a four bedroom, two and one-half bath and 2,000sf, which sold for $1.150 million. All total, there were seven sales on the Causeway in 2013. PRIMARY VS. OTHER Wrightsville saw a net loss of eight year-round homes to second home, rental or investment uses, excluding duplexes and condos. The seven purchasers of year-round homes moving to second home use hail from Wilmington, Raleigh, Charlotte, Winston-Salem and Chicago/Palm Beach. One second home moved to year round: This was the $636,000 sale at 20 Palmetto Drive to a University of North Carolina Wilmington grad for a primary residence sale in May. Harbor Island, with ten single family home sales (excluding duplexes and condos), saw a net loss of two year-round homeownerships, which went to investment; another year-round residence was torn down to build a spec house — the Johnson home, built in 1954, at 112 North Channel Drive, on a 75-foot wide waterfront lot, which sold for $950,000. Two went from second home to year round, although one of these will be torn down and a new year-round home built. Vance Young was also ranked No. 4 in sales at Wrightsville Beach, with seven sales for a total combined sold volume of $7.77 million. He says, “The second home buyer has not returned just because the economy is not there yet, people don’t have the disposable income and second-home properties are still a luxury and an expensive luxury. You throw on top of that the cost of rising insurance, wind and hail, and now this flood debacle, and it is cause for concern, particularly on the second-home market.” twoodbury@intracoastalrealty.com lindafranklin@intracoastalrealty.com
2014-2
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