www.wrightsvillebeachmagazine.com
REAL ESTATE ROUNDUP
ONE WRIGHTSVILLE MICRO MARKET
Approximately 40 of Wrightsville’s sales were single family homes, 110 were townhouses or condos. 2020 saw new condo-miniums
at Atlantic View landward of Johnnie Mercers Pier sell out quickly. Days on market were few. New condo construction
on Wrightsville Beach continued selling at record pace, including four at 123 S. Lumina Ave.
“We listed and put under contract four residential luxury condominiums and actually did this as soon as we had pilings
in the ground. It is pretty unique for new construction to sell prior to a start,” says Evan Barton of Cadence Realty. They were
scheduled to close in early 2022.
Ace Cofer offers an insightful micro market case study of 2021 on one oceanfront condo building, illustrating what it took to
get back to the prerecession values.
“The highest price ever paid for a two-bedroom Station One condo was $850,000 in 2006. That was a prerecession high,”
he says. “At the end of 2020 a two-bedroom Station one condo traded in the high 700,000s. As we entered 2021, a two-bed-room
Station One condo unit 6-F traded for $805,000. The following sale of unit 3-J was $860,000, followed by unit 4-E for
$910,000. We wrapped the
year with a two-bedroom
Station One condo closing for
$930,000.”
Unit 6-G closed on Dec. 16,
but he says it sat on the
market at least 30 days at
$975,000. There was not a
bidding war, and it did not sell
for full price.
“The consumers simply
said no. Appreciation is tak-ing
place, yes, but that rapid
appreciation scale did stabilize
in that micro market at Station
One. You couldn’t just keep
asking $50,000 or $100,000
more than the last one sold for,
the consumers drew a line in
the sand,” Cofer says.
55
WBM
High-rise, Station One sits at the one of the most popular beach front sections of
Wrightsville’s beach strand. 95 S. Lumina, Station One unit 6-G sold for $930,00, a new
record.
HARDEE HUNT & WILLIAMS
2021 TOP RESIDENTIAL LAND SALES NEW HANOVER COUNTY
Sold Price Sold Date Address Road
Frontage
Water
Frontage
Total
Acres
1 $3,450,000 11/9/2021 5 Auditorium Circle. Wrightsville Beach 50 50 0.24
2 $3,200,000 7/2/2021 230 Summer Rest Road, Wilmington 147 166 0.59
3 $2,650,000 6/24/2021 15 Seagull Street, Wrightsville Beach 85 85 0.17
4 $2,150,000 3/8/2021 156 Beach Road S, Wilmington 100 100 0.55
5 $2,150,000 8/30/2021 2344 Ocean Point Drive, Wilmington 98 100 0.58
6 $2,100,000 12/2/2021 8055 Masonboro Sound Road, Wilmington 400 49 10
7 $2,100,000 10/29/2021 1124 Harborway Place, Wilmington 142 537 2.46
8 $2,000,000 5/19/2021 315 Beach Road N, Wilmington 121 102 0.43
9 $1,925,000 10/12/2021 1111 Pembroke Jones Drive, Wilmington 120 210 1.01
10 $1,700,000 2/9/2021 265 Beach Road N, Wilmington 155 138 0.41