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. Sunset Park is one of our 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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There are over 700 homes in Sunset Park, a school and several churches.
It was designated a national historic district on the National Register of Historic Places in 2003. Architectural styles in the neighborhood include Queen Anne, Bungalow, American Craftsman, California Bungalow, Tudor, Colonial Revival, Cape Cod, and ranch.
Early construction in Sunset Park was focused on a vision of suburban mansions akin to downtown and the historic overlay. The plan was for a 600 acre development that would include a marina on the river and other amenities, but the depression and the wars of the first half of the 20th century created the need to convert the marina to a state port and create simple, affordable housing close to the port.
The oldest houses in the neighborhood are 2032 Adams (1902), 417 Central (1907), 2138 Washington (1908). There are six built in 1910, 210 Northern, 1928 Jefferson, 2018 Washington, 414 Northern, 2036 Adams, 206 Northern.
230 homes built before 1940
289 built between 1941 - 1950
143 homes built between 1950 - 1960
Only about 40 homes newer than 1960
Average tax value: around 90k
Average lot size: .2 acre
Average age: 1944
Average Sq Ft: 1211
Biggest house at 4000 square feet is at 417 Central, built in 1907. Listed for sale as recently as 2007 for close to 900k.
wikipedia article on Sunset Park
living places article on Sunset Park