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WRIGHTSVILLE BEACH IT had been 14 years since the recession wiped out 68 percent of the town’s previous year’s sales volume. Homeowners who
weathered the 2005-06 economic storm and held on saw an impressive 36 percent increase in sales with a 42 percent higher top
sales price on Wrightsville.
Out of 159 total sales, totaling $157.5 million, 147 were residential properties with a sold volume of more than $147 million.
“There are myriad reasons to purchase beach property,” says Randall Williams in his 37th year at Wrightsville. “I’ve seen a full spec-trum
of motivating factors that entice folks to invest in this place. The traditional second home buyer, the rental investor, the 1031
tax exchanger, the spec builder, the flipper, the retirement home buyer, the primary residence purchaser, the move up buyer, the fine
homes collector. The list goes on. Occasionally a real estate market becomes invigorated by all of these factors. That is what I believe
happened in 2019.”
Residents contributed to the higher volume and prices; neighbors moving up or buying additional properties was prevalent at
Wrightsville. Current property owners were making a move to a more desirable property or doubling down, buying additional
properties.
“It was a hot market from January to December,” Williams says. “This market has been fueled by more solid fundamentals than the
last hot run, which was largely propelled by speculation and risky exuberance.”
Of the top sale in the three counties, the oceanfront home at 915 S. Lumina Avenue (see page 46), listing broker Vance Young says
no expense was spared when the custom-built home was constructed in 2014. Besides the craftmanship, it provided the year-round
residents incredible views in all directions: ocean, sound, inlet and island with both Wrightsville sunrises and stunning sunsets over
water. The downsizing sellers purchased on the creek in Landfall.
The 5570sf home with four or five bedrooms and 5-and-one-half baths had replaced a 1960s cottage on the 75x175-foot lot.
“The buyers were looking for an exceptional property located in Pender or New Hanover County, close to the Wilmington metro
area,” buyer broker Brett Knowles of Coldwell Banker Seacoast Advantage says.
Above and right: The number two sale on
Wrightsville was also the number two sale
in the county. No. 122 Parmele Blvd., on the
sought-after lagoon known as the Lollipop,
sold for $4.85 million, 97 percent of its list price.
Built in 2005, the 5,490sf home came with
multiple boat slips and a 40-foot wet slip.
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WBM february 2020