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PLANNED UNIT DEVELOPMENT SALES WRIGHTSVILLE BEACH DAYS ON COMPLEX NAME ADDRESS/UNIT SOLD MARKET SeaPath Towers 322 Causeway Drive #A-401 377,500 209 #A-209 350,000 310 Shell Island Resort 2700 N. Lumina Avenue #601 310,000 25 #501 300,000 33 #201 265,000 259 #812 265,000 155 #807 260,000 36 #506 257,500 33 #804 252,000 53 #516 255,000 800 #505 252,000 89 #318 245,000 55 #413 241,000 147 #718 235,000 33 #714 234,000 68 #220 229,000 387 Channel View 18 Channel Avenue Unit BR Bldg 2 740,000 58/875 Channel Walk 102 Seaside Lane 735,000 963 136 Captains Court 575,000 227 157 Driftwood Court 435,000 119 108 Captains Court 335,000 58 111 Driftwood Court 301,000 477 Lees Cut at Channel Walk 223 Lees Cut Lane 725,000 44 226 Lees Cut Lane 680,000 709 227 Lees Cut Lane 680,000 1,060 119 Lees Cut Lane 460,000 216 Dune Ridge 2400 N. Lumina Avenue Unit #1306 840,000 52 Unit 2205 795,000 252 Seacrest Villas 211 Seacrest Drive Unit B 315,000 525 Wrightsville Dunes 2510 N. Lumina Avenue F1D 795,000 524 2502 N. Lumina Avenue #2-B 740,000 289 The Doak 552 S. Lumina Avenue #A-2 640,000 179 Lookout Harbour 11 Lookout Harbour Way Unit 11 650,000 200 Unit 19 542,500 278 Marina Street 10 Marina Street #A-4 480,000 1,004 Station 1 95 S. Lumina Avenue Unit #3-K 845,000 57 Unit #1-G 519,000 55 Unit #1-l 505,000 588 Unit #1-E 475,000 621 Station 1 Townhouse 101 S. Lumina Avenue #2 849,000 60 Lumina Club 627 S. Lumina Avenue #11 590,000 212 The Islander 1704 N. Lumina Avenue Unit #3-A 600,000 189 Unit #5-E 525,000 455 Unit #2-C 500,000 470 Wrightsville Winds 6E Atlanta Street #A 565,000 169 Other Condos 800 Square Feet or Less - Primarily Rental Summer Sands Condo 104 S. Lumina Avenue Unit #107 183,000 21 Summer Place 1102 N. Lumina Avenue #B-1A 200,000 428 Harbor Inn 701 Causeway Drive #103(1-C) 165,000 48/257 Waterway Lodge 7246 Wrightsville Avenue #226 85,000 231 Fractional Ownership North Shore 8 E. Shearwater Street #A8 85,000 127 Shearwater 14 E. Shearwater Street #BF 102,850 90 Sea Oats 13 Sea Oats Lane 111,000 371 Wrightsville Shores 20 Columbia Street 102,000 214 Wrightsville Dunes 2501 N. Lumina Avenue #2D 225,000 39 Fourteen condo-tel units at Shell Island sold through Realtors in 2013. Wilmington. I think they have seen the drop in values as an opportunity to buy a beach home. From the Wilmington area, some younger families that like the school down here take advantage of the lower pricing and relocate full time,” Justin Donaton says. “We are seeing a husband and wife; they got married at 25, bought a house or a condo somewhere in Wilmington. They sold it for $200,000 and then they are coming down here buying a four-bedroom, three-bath, 1975 ranch for $300,000, but it is like, ‘Hey, I am at the beach.’ They like their flip-flops. The condos and duplexes, a lot of those people, it is your stereotypical middle-aged family from Raleigh with their golden retriever and their white picket fence and two kids that play soccer. And they want to be close to the beach, that is why they are buying. When you get into the upper echelon of properties, it is not the Wilmington family, not the RTP, it is Northeast money coming down here to buy their retirement home. We sold a $1.7 million house to a guy who lives in China, his son and daughter live in Charlotte and he is a banker in China and he wanted a beach house for his kids.” Chris Livengood, Intracoastal Realty Corporation Vice President of Sales, sums up the area real estate market: “2013 represented a good recovery year for our market place, by my measure the fifth best year in history,” he says. “Volume grew to the highest level since 2008. Interest rates continue at near-historic lows. The inventory of distressed properties (short sales and foreclosures) decreased. The total market inventory shrunk to a six-to-seven months of supply level with pockets of real estate beginning to show modest price increases as a result.” 70 WBM february 2014


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