LANDFALL The gated community of Landfall closed out 2016 with $83.5 million in sales, a gain of $6.9 million in 136 lot, home and condo sales. The Cape Fear Realtors reports a 2.26 percent in gain over 2015. “It was most remarkable; we sold 15 houses over $1 million. We did nine the year before in 2015, which is a huge increase in million-dollar sales,” says Allison Bernhart of Landfall Realty, which ranked No. 10 in sales. “We sold three lots on the Intracoastal Waterway; there has not been a waterfront lot sold in quite some time.” Nick Phillips agrees buyer confidence continues in Landfall. “This is the second year in a row that we were able to represent the highest sale in Landfall. In both cases the buyers were very confident about spending the money that they did on those properties,” he says. Landfall showed a 28.79 percent decrease in the active number listings, with prices holding steady. The top active listing climbed just $50,000. “At Landfall, we’ve got 94 houses on the market and we sold 105 or 106 last year. That’s the first time I can remember in a long time where the inventory is less than the previous 12 months,” Vance Young says. FIGURE EIGHT ISLAND A lack of houses on the market figured into the type of sales at the exclusive enclave. “A lot of what has factored into the market on Figure Eight is the supply of inventory. We have had a lack of available inventory at certain locations and price points. So you have people looking that can’t really find what it is that they’re looking for,” Kirra Sutton says. Tear downs and renovations became more common. “What we are experiencing out here is, you buy a $2 million house that you are tearing down. Or you buy a $1.1 million marsh-front home that you are doing a $500,000 to $800,000 renovation to,” Sutton says. “Most people want to walk right into something and they are willing to pay a premium to do so, but when that inventory doesn’t exist, then it forces people to buy and build. Sometimes that includes buying a structure that is existing and tearing it down or doing a major renovation.” 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 161 173 181 84 99 Information from Wilmington Association of Realtors-MLS TOTAL UNITS SOLD AVERAGE LIST PRICE 66 WBM february 2017 97 103 64 69 58 89 129 111 113 $1,0080,980 $877,468 $548,158 $781,305 $1,070,091 $1,353,290 $1,258,315 $1,147,834 $1,311,480 $1,159,303 $807,940 $925,012 $792,115 $798,669 WRIGHTSVILLE BEACH STATISTICS 14 YEAR PHOTO BY ADAM HAWLEY, UNIQUE MEDIA & DESIGN One of the two lagoons on the south end of Figure Eight Island from the air.
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