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Back You are here: Home News Local and State News Real Estate Market Sales Weekly Real Estate Market Report for May 23, 2012

Weekly Real Estate Market Report for May 23, 2012

I would like to wish you and your family a safe, healthy and happy Memorial Day weekend. God bless the men and women who serve in our armed forces—they protect us, and our freedoms.
The general consensus is that real estate is on its way back. While it’s my opinion that prices will generally remain flat for the
next year or so (due to appraisal reasons), at Coastwalk Real Estate, we are experiencing a drastic increase in our sales volume.
Let me share a few stats that apply as of 5/17/2012, for Carolina & Kure Beach:
• In 2011 (through 5/17/11), there were 157 sales in Carolina and Kure Beach
• In 2012 (through 5/78/12, there are 165 sales in Carolina and Kure Beach
• Coastwalk’s main office has SOLD twice as many properties as the next closest office (58 vs 29).
• Coastwalk’s sales volume for its main office is $12,924,434 compared to $8,330,375 for the next highest office.
Inventory has dwindled, and we have ready, willing and able buyers who are trying to find the right home (and have not yet found it).
This is a dramatic shift from two years ago…when inventory was so high and choices seemed limitless.
We have SOLD OUT of our oceanfront lots. Home sites off the water have been a hot commodity as well.  
Single family home sales are solid, as are newer duplexes and condos. Commercial properties are showing signs of life. The slower moving properties include older condos (with higher HOA dues), homes that require a lot of repairs, and those that are over-priced. Here are examples of some recent sales we were involved with:
233 Atlantic Ave in Kure Beach – This is a super cute beach cottage on one of my favorite streets on the beach. It just SOLD last week for $500,000.
133 Seawatch Way in Kure Beach – A 2,100 sq ft home in a real nice community, this home SOLD for $505,000.
605 Alabama Ave in Kure Beach – A brand new home by Ocean Grove Cottages, SOLD for $380,000.
105 Dow Ave – A 4BR/3BA duplex with elevator that SOLD for $350,000
458 N Fort Fisher Blvd – Ocean front get-away in Kure Beach. SOLD for $698,000
1520 Bowfin Lane – A super beach home, nice views. SOLD for $455,000.
Buying and selling homes are one of the largest financial investments you will make.
As you make plans for 2012 and beyond, please consider calling Coastwalk Real Estate. We are island experts!
Expect Results: 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: for more info.
The Weekly Real Estate Market Report is a Paid Advertisement Compliments of Coastwalk Real Estate.