february 2022
REAL ESTATE ROUNDUP
IN Landfall, a West Indies-inspired
home at 2340 Ocean Point sold for
$4.8 million, No. 8 in New Hanover
County. The sale of the Intracoastal
Waterway and oceanview home, a second
home for the seller, was purchased by a
second home buyer. Tech people?
“Both the seller and buyer are coming from
the Triangle area,” Nick Phillips says.
1100 Pembroke Jones Drive in Landfall Country Club sold for $3.75 million.
52
WBM
With 7,440 sf, 2340 Ocean point Drive in Landfall was at one time (2016) a top sale in all of New Hanover County, when combined with a
contiguous lot. In 2021, it was the number eight sale in New Hanover County and sold for $4.8 million, 87.27 percent of the asking price.
The lot sold for $2.15 million this year as well. Hypothetically, the combined transaction if sold together would have been $6.95 million.
Cycles:
LANDFALL MICRO MARKET
Realtors often speak of markets follow-ing
cycles. Ace Cofer is one of them.
“It has taken almost 15 years for our
market to return to pre-recession heights,”
he says. “For example, Horseshoe Island in
Landfall has had two vacant ICWW-front
lots. In 2005, 1111 Pembroke Jones Dr.
sold for $2 million and this year it sold for
$1.925 million. That shows an example of
what was happening in 2005, ’6 and ’7 and
what is happening today. We are back to
square one… and we have surpassed that
(price) in certain micro markets.”
LANDMARK SOTHEBY’S INTERNATIONAL REALTY LANDMARK SOTHEBY’S INTERNATIONAL REALTY
INTRACOASTAL REALTY CORPORATION
LANDMARK SOTHEBY’S LANDMARK SOTHEBY’S INTERNATIONAL REALTY INTERNATIONAL REALTY