I would like to wish you and your family a safe, healthy and happy 4th of July week. There are a lot of activities happening at the beach, enjoy!
This week I wanted to be brief, but in doing so, share a very important message. Real Estate activity at the beach is strong!
Recent media reports show, nationwide, that housing sales fell 3.8% in May (compared to May of 2010), and that sales in 2011 year-to-date are behind that of what we saw in 2010. I do not dispute these figures.
If you are a regular reader of this column you will know that I preach “real estate is local”. The truth is that people want to live, work and retire in Wilmington and at its beaches. There are great recreational activities, good schools, shopping, dining, an international airport and strong healthcare facilities.
So while we are seeing continued declines in some areas across the county, others markets (Carolina & Kure Beach) have seen increases in sales activity.
Let me share a few stats that apply as of 6/22/2011, for Carolina & Kure Beach:
- Home & Condo sales are up 21% (year-to-date), compared to 2010 for the same time frame
- Land sales are up 12% (year-to-date), compared to 2010
- The average sales price of an island home (year-to-date) is $306,515, compared to $300,762 in 2010
- Coastwalk Real Estate’s total sales dollar volume is up 83% (year-to-date), compared to 2010
- Coastwalk Real Estate’s total transaction volume is up 132% (year-to-date), compared to 2010
So there you have it…real estate is local!