The number of home sales was up strongly again in 2016. There were close to 5000 homes sold in New Hanover County in 2016, around 9% more than in 2015, which was up 16% from 2014. The last time the numbers were this high was back in 2006, when 4933 homes were sold, and 2005, when 6500 homes were sold. My prediction at the beginning of 2016 was for a 7-11% increase, and while I hate to brag, I nailed that pretty good.
My prediction for 2017 will be another solid increase in home sales, I will say 8 - 12%. The economy appears to be moving ahead strongly, and this area continues to be a popular place for people relocating or retiring.
Signs are good that 2017 will be better in home sales and prices. The economy is growing, consumer confidence is high, unemployment is low and mortgage rates are great.
For the last several years it has getting easier and easier to sell a house. Low inventory and a steady number of buyers has put sellers in the driver's seat.
Buyers are definitely still looking in the neighborhood. Carolina Heights is one of my favorite neighborhoods to recommend, because it has such historic charm and great neighborhood feel. Also because I live here!
Click on the links at left to review the activity over the past five years, plus what sold last year and what's active now.
Also, we have had conversations with buyers who are interested in the neighborhood, so if you are considering selling please let us know. If you or someone you know is looking to buy, we'd be thrilled to help them as well.
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Facts about the Neighborhood
18 non owner occupied
Five Oldest Homes
102 N. 17th St, built in 1897
1703 Princess St, built in 1897
1807 Chestnut St, built in 1903
1807 Princess St, built in 1904
(this excludes 320 N. 18th, originally built in 1853 in Ivanhoe and moved to Carolina Heights after 1950)
68 homes built prior to 1920
40 houses built 1921 - 1937
Newest home built in 2008
Tax Assessed Average Value is $264k
Average number of bedrooms 3.6
Average lot size is .23 acres
Average square footage is 2380
Tax Assessed Values range from 100k - 679k
(Not including the Wise House, which is valued at $2.1 million)
Homes range from 9 bedroom to 2 bedroom
Square foot ranges from 800 - 8000 sq ft
Article on Carolina Heights here
|This is the study area
Interesting that Carolina Heights has three different zip codes within the neighborhood, 28401, 28403, and 28405.