The team at Carolina Plantations is frequently being asked by both sellers and buyers what the pulse is of our market in Coastal North Carolina. So instead of trying to bloviate (w/obvious reference to a mighty fallen), we thought we would share some hard, cold facts with you. Real estate along the eastern coastline is really heating up at this time of year.
In Brunswick County, we concentrate on three separate areas:
Below is at least one large community from each area along with a brief window into the health of six communities in Brunswick County. Please keep in mind that these numbers are directly off our local MLS system, so if a developer below does not enter (all) their sales on MLS, then the general public has no means to secure and/or verify such numbers.
|SOLD During Past 12 Months||Homesites
# of Sales and Range
|Brunswick Plantation||8 ($9,000 - $40,000)||50 ($64,000 - $440,000)|
|Brunswick Forest||140 ($60,000 - $230,000)||258 ($235,000 - $735,000)|
|Compass Pointe||61 ($68,000 - $145,000)||40 ($282,000 - $589,000)|
|Ocean Ridge Plantation||37 ($15,000 - $239,900)||11 ($324,000 - $800,000)|
|St. James||105 ($15,250 - $350,000)||194 ($125,000 - $775,000)|
|Waterford of the Carolinas||28 ($43,500 - $101,000)||78 ($180,000 - $532,000)|
It is no surprise that the two behemoths of our county, St James and Brunswick Forest, sport the numbers that they do. Their marketing budgets probably surpass that of several professional sports teams as they reach out to the many folks retiring in the Midwest, Northeast and Mid-Atlantic regions. You will also notice that with the exception of a small handful of home sites in SJP that have been foreclosed upon, the prices are holding quite steady at these two communities.
One could argue that the area that these communities lie in could be a factor in these trends, however there are communities doing well in all three areas of our county. Living near a beach, Wilmington or Myrtle Beach may not be a perfect match for many of the clients we see moving here, so we are grateful to offer so many geographic options.
When real estate sales increase, there is almost always a direct correlation to the Absorption Rate decreasing as the amount of product on the market decreases. The next effects of these trends is that prices will inevitably increase and the average Days on the Market will decrease – so take a gander at the charts below and you will see that we are trending in positive directions in almost every category.
While the group of Realtors in Wilmington do sell in Leland, they mostly concentrate on Wilmington / New Hanover County and Pender County, which is north of Wilmington. So, while their geography is a bit different than Brunswick County, they are our neighbors to the north and are experiencing rapid growth just like we are. Just thought you would enjoy seeing their trends.
In a perfect world, selling ‘high’ and buying ‘low’ is as good as it gets, right? Well, that opportunity is available for many of you right now. If you have any questions about the market either as a buyer or a seller, please contact the team at Carolina Plantations so that we can provide you the information you require to make well educated decisions. You can reach us at (910) 755 - 7557.
We look forward to hearing from you!