Welcome to the Year in Review for the Year 2017
By the Numbers
In New Hanover County in 2017: 5211 sold
3932 homes, 718 condos, 525 townhomes, 36 manufactured
Compared to 2016: 4974 sold
3809 homes, 634 condos, 490 town homes, 40 manufactured
Compared to 2015: 4521 sold
3453 homes, 594 condos, 434 town homes, 40 manufactured
Homes prices (rounded off)
Average home sold $303k
Average price per sq ft: 155
Compared to 2016: Avg price was 279k, avg price per sq ft was $143
Compared to 2015; Avg price was $273k, avg price per sq ft was $144
Lowest Prices on Sold Homes
Lowest priced home: $11,000, see below. (in 2016 it was $17,325)
Number of homes that sold for under 100k: 278 (in 2016 there were 345)
Homes under 50k: 40 (in 2016 there were 72)
Homes under 25k: 2 (in 2016 there were 7)
Number of homes sold for under $25 per sq ft: 5 (in 2016 there were 11)
Lowest priced per square feet: $12 (in 2016 it was $13)
see also: bottom ten homes lowest priced homes sold in New Hanover County in 2017
304 Fleming Rd, sold for 11k
The description for this 864 sq ft house states that the value is in the land, the house needs to be torn down, and potential buyers should not even enter the house!
One of 40 homes sold for under 50k
||Lowest Price Per Sq Ft:
2520 Rockhill Rd, sold for 20k
This house was sold by the Wilson Team! This house had been vacant for a while and was definitely a tear down.
One of 6 to sell for under $25 psf
Highest Prices on Sold Homes
Highest priced home: $4.8 million ($4.3 in 2016, $3.475 in 2015, $3.5 in 2014)
Number of homes that sold for over $2 million: 30 (22 in 2016, 25 in 2015, 13 in 2014)
Number of homes that sold for over $1 million: 108 (79 in 2016, 81 in 2015, 67 in 2014)
see also: Top ten homes sold in New Hanover County in 2017
226 Beach Rd North, $4.8 million
Built in 2000, this oceanfront home at Figure 8 has over 5600 square feet, 5 beds, a swimming pool and its on a .69 acre lot. Other than that nothing stands out, it must show really well.
One of 30 to sell for over $2 million, compared to 22 for last year
||Highest Price Per Sq Ft:
12 Island Dr, $1.61 million
1709 per sq ft
Small house (942 sq ft) built in 1947, the lot is just .14 acres, but…fabulous sound front on Harbor Island. Value is in the land.
One of four priced over 1000 psf, compared to three homes priced at over 1000 psf in 2016
Smallest Homes Sold in 2017
400 Square Feet
Number of homes sold that were under 700 sq ft: 15
Number of homes, condos and townhomes that sold that were under 1000 sq ft: 158
4433 Holly Shelter Rd
Sold for 35k
Getaway in Castle Hayne, ideal for folks who really don’t like to clean. This 400 square foot one bedroom house on a 1/3 acre in Castle Hayne fits the bill. Sold for 35k. One of 15 single family homes under 700 sq ft that sold in 2017, one of 158 that sold that were under 1000 sq ft.
Largest homes sold
Largest home sold: 11,262 sq ft (see below)
Last year largest was 9222 sq ft
Number of homes sold that were over 5000 sq ft: 43 (39 in 2016)
Number of homes sold that were over 7000 sq ft: 5
1120 Harborway Place,
11,262 sq ft, sold for $3.2 million
This monster was built by Bud Blanton back in 2009, but the market went south before he was able to unload it. Also included is a boat slip, seven car garage, heated pool, 2.6 acres, and a guest house. Just in case you have more guests than would fit in a 11,000 sq ft house. Originally listed as a spec house in 2004 for 2.2 million, then changed to the monster house. Listed for as high as $3.9 million in 2009.
Time it took to sell
Home that took the longest to sell: 1612 days (see below, in 2016 it was 1616 days)
Number on the market that sold after being on market for over 1000 days: 2 (3 in 2016)
Number of homes CURRENTLY on the market over 1,000 days: 9 (10 in 2016)
Longest on Market:
1215 Middle Sound Loop
Days on Mkt: 1612 days
Only two homes took longer than 1000 days to sell, compared to three homes in 2016 and 50 that took longer than 1000 days in 2016.
The “winner” of this category is 1215 Middle Sound Loop Rd, which sold for $400k after being on the market for 1612 days. The house was under 1200 square feet, but sat on over 5 acres.
Age of Homes
Oldest home sold: home built in 1826 (see below)
Number of homes sold that were built prior to 1900: 15 (30 in 2016)
Number of homes sold that were built in 2017: 517
(in 2016, there were 459 homes sold that were built in 2016)
Oldest Home Sold:
416 S. Front St
Built in 1826, sold for 800k
15 older than 1900, compared to 30 in 2016.
This Greek Revival house built in 1826 served as a hospital for Union troops during the Civil War, but wasn’t moved to its current location until 1887. The house was cut up into six apartments in the late 20th century, but could be converted back to a single family house.
Bedrooms & Bathrooms
Number of homes with more than 6 bedrooms: 34 (38 in 2016)
Home with the most bedrooms: 8 (see below)
Number of homes with more than 8 bathrooms: 4 (6 in 2016)
1120 Harborway Place
Most places to crash award goes to 1120 Harborway Place, which was coincidentally the biggest house to sell. Over 11,000 square feet and 8 bedrooms, sold for $3.2 million.
86 Beach Rd, 9 bathrooms
Most places to pee goes to 86 Beach Road S. on Figure 8, built in 2006. A total of 9 bathrooms service four bedrooms and over 9000 square feet. House sold for $3.5 million, or around $389,000 per toilet.
407 land listings sold in 2017 (406 in 2016, 329 in 2015, 313 in 2014, 322 in 2013)
Lowest priced land sale: $5000 for a .13 acre lot on N. 10th
Highest priced land sale: $3.3 million for a 15 acre lot on River Road
Realtor Update (home and land sales in region)
Number of Realtors who made one sale in 2017: 2483 (2016 = 2390, 2015 = 2319, 2014 = 2108)
Number of Realtors who made one sale in 2006: 2701 (this was the peak)
Number of Realtors who made over $1 million in sales in 2017: 1267 (1124 in 2016)
Number of Realtors who made over $1 million in sales in 2006: 1289 (this was the peak)
Click here to go to the full 2017 Year in Review