The seventh highest sale in New Hanover County and the top sale in Landfall was 1121 Harborway
Place with 7,781 sf built on a one-acre lot. It sold for $5 million, 90.91 percent of list price.
february 2022
REAL ESTATE ROUNDUP
INVESTING IN LAND
Those who can afford to
wait on product delivery, on
other building projects to
clear, and want a home of
their own design are looking
to purchase land, Jessica
Edwards says.
She says 26 lots sold in
Landfall in 2021 and as of
Jan. 1 only five lots were
listed for sale, with prices
ranging from $250,000 to
$1.9 million.
“We still see people want-ing
to buy land and build
even with building prices
being so high and things
being delayed. It is an inter-esting
part of the market,”
says Edwards.
Others saw undeveloped
lots as an investment to hold
or to develop.
At built-out Wrightsville
Beach, five lots were sold.
Two of these were on Harbor
Island, both facing east
on Banks Channel. Both
included boat slips and were
near the fixed bridges to
Wrightsville. The priciest,
a 50-foot-wide lot located
south of the south fixed
bridge, 5 Auditorium Circle,
took just 13 days to sell in
November for $3.45 million.
Deep water access counts.
Between the Banks Channel
fixed bridges. 101 West
Salisbury Street, with 100 feet
of waterfront, closed in March
for $1.35 million. It had been on
the market at least 163 days.
The three additional lots
sold included 15 Seagull
Street, immediately north
of Johnnie Mercers Pier, for
$2.650 million dollars in
June after being on the
market seven days.
This was also the top
residential lot sale in New
Hanover County.
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WBM
PHOTOS COURTESY KELLER WILLIAMS REALTY UNITED