As a seller, being located in a top selling community can be beneficial, because that means demand is higher than other communities. As a buyer, knowing the popular communities can clue you in on good amenities and potential resale value for a long-term investment. However, the real estate market is a polyhedra, meaning there are multiple factors all linked together to form a solid model, which determines property values and the overall health of the market. So, when making an investment or deciding on a selling price, it’s important to do a full market analysis for the subject property.
In November 2015, some communities in the Wilmington area proved to be more popular than others. Here they are, along with links to current listings.
The top selling for homes:
Brunswick Forest (Leland) – 10 Homes
Waterford of the Carolinas (Leland) – 9 Homes
Quail Woods (Wilmington) – 8 Homes
Campus Edge (Wilmington) – 5 Homes
Landfall (Wilmington) – 5 Homes
Magnolia Greens (Leland) – 5 Homes
Mallory Creek Plantation (Leland) – 5 Homes
The Willows (Leland) - 5 Homes
The top selling for land:
Brunswick Forest (Leland) – 13 Lots
River Landing (Wallace) – 8 Lots
Compass Pointe (Leland) – 7 Lots
Olde Point (Hampstead) – 4 Lots
While one could argue some of these communities have size on their side, they still well outperformed other comparable communities. It’s also interesting to see the range of prices of the homes sold in these communities. The condos in Campus Edge were under $100,000, homes in Magnolia Greens went in the $200,000-$350,000, and Landfall was $600,000-$750,000. So, a wide range is represented.
It’s also important to note that for the time being, there aren’t many large neighborhoods in Wilmington with lots for sale, so the top selling communities are not in New Hanover County. That could very well change in the coming year when RiverLights on River Road opens up to buyers. That is going to be a huge community with lots of great amenities. If you’d like to be notified when lots start selling, let us know!
If you’d like to see more stats for the November 2015 real estate market, Melanie recently shared information about the average sold price, average days on the market, inventory, interest rates, etc. You can see them in her Monday Market Update.
Interested in how homes and lots are selling in your neighborhood? Give us a call at (910) 202-2546 or send us a message through our Contact page. We’d be happy to do a brief rundown or a full comparative market analysis, depending on your plans for your property.