How’s the Market? Wrightsville Beach Real Estate 2019

How’s the Market? Wrightsville Beach Real Estate 2019


hey everybody this is Jay the owner of
Wilmington-real-estate.com that’s Wilmington-real-state.com and I’ve
got this funky new stand-up desk so now I get to do my videos I level and walk
around you know I could be like one of those preachers and I make my points
over here I make my points over there then I come to the middle and I say give
me your money I’m just kidding I’m just totally kidding it and keep in mind that
I am in church weekly and it’s a conservative Church so I have a license
to make fun of Church and some kind of seriously right now let’s talk about
Wrightsville Beach oceanfront homes Wrightsville Beach real estate and
condos for sale etc how is the market doing in Wrightsville Beach and all that
goodness so real quick my my website Lumberton real estate calm with dashes
it’s been upgraded and it shows the home so nicely now you can look at a home
with all of its pictures just on the main screen with all the listings and
you don’t even have to click on the listing you can just filter through all
of these just from the main search results in whatever niche you’re looking
for but anyway the markets been interesting here and it gives us a good
lesson on how mention specific any market can be within a niche there’s
some niches I mean it’s it’s fascinating stuff to look at so in Wrightsville
Beach we go back let’s say I’m looking at a three-year chart here and the
average our median sales price here is gone from about 1.15 million up to 1.6
million okay and I just calculated it calculated it out real quick it’s 45%
increase of home values in three years now what in the world is that about
about well some of its appreciation but then a lot of it is about new
construction so are the homes that used to sell for 1 million really selling for
a 1,450,000 now I would say not quite maybe at one point
two five nine but you had these new construction homes and they cost lots of
money I was on your contract on one for 2.2 million although that was a vertical
duplex so actually I wouldn’t come into this but it makes the point that these
new the all new homes cost a lot of money in Wrightsville Beach
they’re pretty infrequent so if you’re looking for new construction
there’s not many opportunities that’s for sure what about condoms though they
were three years ago at six hundred ten thousand and now the average is around
seven hundred forty thousand so those went up maybe one third as much as the
houses – mmm I would say they went up 15% for example in three years so it’s
quite a difference and why would that be well are there new construction condos
out there in Wrightsville Beach almost none okay unless it’s a vertical or side
by side duplex that’s technically a condo there’s this they’re not building
new buildings they’re at Wrightsville Beach so that doesn’t inflate the value
as much so they save much more steady with it only show true appreciation
because there’s not a new construction wants to to look at however it varies
greatly within buildings for example Shell Island Resort three years ago the
homes that were on floors two three four or five those only used to sell for two
forty to sixty okay and that was it but now they’re all closing for three
hundred thousand and I just sold one on the fourth floor for two ninety-eight
but one does close I think I’m a the seventh floor or fifth floor for three
ten the point is they’re almost all over three hundred thousand now three years
ago a lot of them were at 240 and 250 so that is crazy appreciation right there
over the last three years that show island resort condos for sale so hope
that gives you some perspective also real quick let’s look at the inventory
because that would be fascinating to see and I’m not familiar
with it I’m a little low so a dramatic decrease in inventory for both the
condos and the houses the last three years and then if we look at on average
days on market that should be interesting so you have higher prices
much smaller days on market and a much smaller inventory lower inventory days
on the market are not that unchanged compared to before a few years ago and
I’ll leave it at that that tells you a lot about Wrightsville Beach it is a
premier beach it’s very wide and deep it’s very flat so people love it because
it’s for the family friendly your kids aren’t going to just drop off a cliff
into the ocean and get you know read about it in the newspaper

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