Greetings from the Wilson Team;
My name is Wade Wilson, my wife Ashley and I are Realtors and neighbors. Carolina Heights is one of our favorite neighborhoods, we have sold more homes in the neighborhood than any other Realtors in the past five years. It is also the neighborhood we call home, we have renovated two homes in recent years, 1807 Princess St and 1709 Princess St. We are living at 1709 Princess Street and love the front porch feel of this charming neighborhood.
Each year I put together a report showing real estate activity in the Carolina Heights neighborhood. I think everyone likes to keep up with what's going on in their neighborhood, and this gives you a good perspective on trends and home prices.
Neighborhood Outlook
Home sales fell substantially, from 13 in 2017 to just 6 in 2018, but in a neighborhood of just over 100 homes numbers may be up or down. Prices were up for the 8th straight year. Average sales price was around $356k, well above the county average of $310k. The price per sq ft of a sold home fell to $135, but again that may be because of fewer sales. The average days on market of a sold home shot up to 349, but that was because of one overpriced house that needed a lot of work that took five years to sell.
If you are considering selling your house, this is the best time in a long time to be a seller. Right now inventory is very low, there are only a few houses for sale in Carolina Heights. I have recently seen some indications that buyers are willing to pay top dollar for homes in our neighborhood, it may be because options further downtown are limited and expensive.
If you are even thinking about selling, give me a call and we can talk about options.
County Outlook
The number of home sales in New Hanover County stayed strong at over 5200. That's the highest number of sales since 2005, when nearly 6500 homes were sold, but is only marginally better than 2017. The previous two years home sales were up 9%, so it stands to reason that things would level off some.
After an 8% increase in 2017, prices only went up 3% in 2018. There are signs of prices levelling off, despite very low inventory.
My prediction for this year will be another decent increase in home sales and prices, I would say 2 - 4%.
Signs are good that this year will be better in home sales and prices. The economy is growing, consumer confidence is high, unemployment is low and mortgage rates are still low.
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 years, plus detail on what sold last year.
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.
Get our free monthly newsletter, featuring stats on what sold and what is currently active on the local real estate market. Just send me an email request!
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Facts about the Neighborhood
110 homes
18 non owner occupied
Geographically, the neighborhood is between 20th and 15th and includes Market, Princess, Chestnut, Grace and Rankin
Five Oldest Homes (according to tax records)
1701 Princess 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
Averages
Tax Assessed Average Value is $264k
Average number of bedrooms 3.6
Average lot size is .23 acres
Average square footage is 2380
Ranges
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
See also:
Article on Carolina Heights here |
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| This is the study area |
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Interesting that Carolina Heights has three different zip codes within the neighborhood, 28401, 28403, and 28405.
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