October Luxury Real Estate Report

Luxury home - house

October Completed Transactions

According to data from the Wilmington MLS, nine homes over $1,000,000 sold in our area during the Month of October. That represents an 80% increase over the same period last year.

 

Pending Sales

The Wilmington MLS also reported three homes in this price range going under contract in October.

The first home at 110 Skystasail Drive is located in the community of Shandy Point. Known as Greenville Manor, this 8,900 square foot home built in 1920 was listed for $1,500,000. It last sold for 1,100,000 in 2014. It was on the market for 40 days.

The second home located in Greenville Sound Gardens at 6808 Towles Road, is a 4,085 square foot home built in 2001 located directly on the Intracoastal Waterway. This home, with a 24′ boat slip in the community marina was listed for $1,747,000.

The third home at 6226 Richard Bradley Drive is located in Bradley Hills. This home is located on a three acre gated escape. The home went under contract in just 6 days.

The final contract prices on each of these properties will not be made public until the sale closes and the deed is recorded with the county registrar.

UPDATE – 6808 Towles Road closed in mid November, the final sale price was $1,736,000 (99% of the listing price).

New Luxury Listings

October also saw 15 new residential properties priced over $1 million dollars come on the market.

Most Expensive New Listings

Based on the cost per square foot, the two most expensive listings to come on the market last month were 217 S. Lumina Avenue at $1,470 per square foot and 2425 Alford Landing Drive at $1,409.

Situated on 2425 Alford Landing Drive is a small 2 bedroom 1 bath cottage built in the 1955. The real value is in the land, a 2.3 acre waterfront lot on Hewlett’s Creek.

Best Value in Luxury Homes Listed in October

The listing at 809 Swift Wind Place in Landfall, with an asking price of $210.57 per square foot, takes this month’s award for best value in the over $1M market. A large home with 6,150 sq. ft., this property is nearly an acre marsh front lot in the desirable Landfall neighborhood and is priced to sell at $1,295,000.

If you are in the market to buy a home or just considering your options, it costs nothing to learn more. Call or email Linda  for a free, no-obligation, no pressure consultation – 910.409.3519, Linda@LindaMehner.com.

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