General Market Observations:
What you can get for your money?
This week I thought it would be fun to look at “what you can get for your money”. Of course if you want to look in person please call us at 910-458-9119.
What Can I Buy for + / - $200,000?
This is one of the most desired price ranges in New Hanover County. In Wilmington, $200,000 could get you a nice home in mid-town. An example of this is 4100 Park Ave. This is a great property in the desirable Audubon community. It sits on a large corner lot. It was completely renovated in 1998 and is professionally landscaped with an outdoor living area and kitchen.
For $200,000 you can also purchase a premium estate lot inside the gates of Porter’s Neck Country Club. An example of this is 8312 Fazio Drive. It’s the largest lot currently available inside the gates, and comes with ICW boat ramp access and waterfront park!
In Carolina Beach for around $200,000 you can buy a two bedroom ocean view condo. Take 1717 Carolina Beach Ave North for example. You have super views from this 2BR/2BA condo. It also has a pool and covered parking. If you would prefer a home, $200,000 could get you an older “rambler” that will likely need some work.
In Kure Beach, there are a few smaller condos in this price point. You can also purchase a great lot for $200,000. Examples of this are in a nice community in Ft. Fisher (Live Oak Village) where lots range from $150k to $250k. Another example would be home sites in Seawatch. I have two with great ocean views, each are asking $249,000. Or check out 325 S 4th Ave, which is a 3BR/2BA home that’s just a short walk to the beach.
What Can I Buy for + /- $500,000
As price increases up to $500,000, we enter an entire new frontier. In Wilmington, you can purchase a five bedroom home with a pool, on nearly two acres. Check out 101 Royal Fern Drive (off River Rd). The main house is over 3,000 sq feet, and also offers a separate FROG. There is an unfinished pool house as well.
In Carolina Beach & Kure Beach the $500,000’s will get you a lot these days! 1310 Searay Ln in Seagrove is a top-of-the line home in every sense. For those who require quality, it’s a must see. It also has a gorgeous courtyard and with an appropriate offer they’ll include a golf cart too! Another option is a custom built Seawatch home at 225 Seawatch Way. During boom times most Seawatch homes would have sold for $800,000 or more!
What Can I Buy for + / - $1,000,000
At $1,000,000 you will find a variety of homes in some of the best neighborhoods and locations in the county. There are a handful of super deals in Landfall right now…exquisite 4,000+ sq ft homes on the golf course and with water views. There are also a dozen or so waterfront homes off Greenville Loop Rd and Masonboro Loop Rd. These will come with amazing views and their own boat slip!
On the island there are choices both on the ocean front and Myrtle Grove Sound. Check out 1112 Merchant Ln…4,000+ sq ft with a nice yard and boat slip. Inside has a designer kitchen! For you beach lovers, take a peak at 414 N Fort Fisher Blvd. Listed at $1,190,000, you are getting one of the best views on the beach in this 4BR / 5BA home. For under $800,000 you can get a practically new townhome with 6 bedrooms at 333 S. Fort Fisher Blvd. And if you want to build, check out the ocean front lots….I have several ocean front lots that are outside the flood zone….so pick your builder and let’s create something really beautiful on these home sites!
Carolina Beach, NC:
In Carolina Beach, MLS shows 11 single family homes having SOLD in January and February of 2011. Prices ranged from $210,000 to $412,000. During this same period in 2010, there were five home sales, with prices from $110,000 to $440,000.
In 2010 there were 19 condos that SOLD in Carolina Beach in the first two months of the year. In 2011 there were 17.
In 2010 there were 4 land sales in Carolina Beach, compared to 8 land sales in the first two months of 2011.
Conclusion, we are starting to see more single family home buyers. These are folks looking for full time and seasonal homes. Challenges in condo financing may also be a part of this.
Currently in Carolina Beach there are 47 properties that are Pending or that are under a Due Diligence Period.
Kure Beach, NC:
In Kure Beach, MLS shows five homes that SOLD in the first two months of 2011, with a high price of $705,000. This compares to four that SOLD in 2010 with prices that ranged from $290,000 to $625,000.
In 2011 there have been two land sales so far, with a handful of others pending. In 2010, the beginning of the year tallied four land sales.
Currently in Kure Beach there are 18 properties that are Pending, or that are under a Due Diligence Period.
In general, we are experiencing a spike in showing activity. Part of this is due to the warmer weather. I am also noticing that buyers, for the most part, believe that “this is a good time to buy”.
At Coastwalk Real Estate, we are very optimistic about a good, solid Spring selling season!
###
Your Real Estate Market Report is provided by Justin Donaton of Coastwalk Real Estate. Data is courtesy of the Wilmington Association of REALTORS MLS. Justin does not just "list" properties, he sells them! To get your home SOLD for the highest possible price, call Justin at 910-352-0998. Justin has been the #1 Agent on Pleasure Island since 2006. He has the highest dollar volume of sales, and has had the most number of closings. His business is built on hard work and high-impact marketing. Please visit www.CoastwalkRealEstate.com for more info.