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At the top end of the county, Porters Neck saw the biggest increase in sales, 18 percent. “It was a healthy year,” says Bruce R. Koch, Broker of Porters Neck Co., credited with 44 sales, a volume of $16.2 million, and a No. 15 ranking in New Hanover County sales. “We have 15 sales pending closing from 2014. Lots of people have bought lots and then built; we have 11 lots under construction right now.” To the south, on Pleasure Island, the towns of Kure and Carolina beaches saw a gain of just under $8.4 million in sales, and the days on market went down more than 22 percent. Ranked No. 9 in New Hanover County sales, Justin Donato of Coastwalk Real Estate is credited with 62 sales, having a combined sold volume of just less than $18.8 million. “Things are pretty strong right now, especially in the resale $300,000 to $500,000 price range,” he says. “New construction is very strong. Land prices and dirt have skyrocketed. The inventory 14 th REAL ESTATE ROUNDUP A N N U A L of good available land, building lots, has somewhat plum-meted. One slow area is older oceanfront condos.” The average sales price in the county has increased 3.3 per-cent to $258,537. Wrightsville’s average sale price increased to $731,998, Landfall’s $572,639, and Pleasure Island’s to $253,774, while Porters Neck and Figure Eight Island dropped to $370,155 and $1.864 million, respectively. “We are still teetering in between — that neutral market,” Jessica Edwards says. “There’s pockets here and there throughout the county that definitely are seeing less inventory and more demand, but it is not blanketed across the whole marketplace. It depends on the location and the price point. There are some neighborhoods or price points where there is very little inventory, and sometimes there is a lot more.” Donato says he assumes the economy in the Raleigh region is currently strong because he has many buyers from the area purchasing a second home on Pleasure Island. “We have really seen the emergence of the baby boomer generation buying those retirement homes,” he says. “Not buying to retire, but people in their 50s, 60s buying that second home for the next couple of years, and then moving down here full time when they retire.” Margaret Collins says New Hanover County follows a bell-curve trend. “Raleigh and Charleston, we follow them and their markets are booming,” she says. “We come 12 months behind that sort of surge there.” Chris Livengood adds, “In our area we are starting to see the secondary home markets improve as individuals balance their investment portfolios and use their recent stock market gains to fund real-estate purchases.” 43 MEDIAN SALE PRICE TOP ACTIVE PRICE # ACTIVE LISTINGS PENDING UNITS $185,000 $6,500,000 1,884 583 $199,500 $5,750,000 1974 537 $14,500 -$750,000 90 -46 7.838% -11.538% 4.777% -7.890% $650,000 $3,295,000 79 6 $675,000 $3,500,000 86 6 $25,000 $205,000 7 0 3.846% 6.222% 8.861% 0% $455,000 $3,499,000 115 22 $512,500 $5,500,000 99 16 $57,500 $2,001,000 -16 -6 12.637% 57.188% -13.913% -27.273% $1,823,000 $6,500,000 21 2 $1,725,000 $4,800,000 19 1 -$98,000 -$1,700,000 -2 -1 -5.376% -26.154% -9.524% -50% $220,000 $2,795,000 311 60 $227,750 $2,795,000 315 49 $7,750 $0 4 -11 3.523% 0% 1.286% -18.333% $373,881 $2,995,000 38 15 $340,000 $829,900 30 18 -$33,881 -$2,165,100 -8 3 -9.062% -72.290% -21.053% 20% www.wrightsvillebeachmagazine.com WBM


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