Market Report - Wilmington North Carolina
Still the fastest growing area in coastal North Carolina, we weren’t surprised to see construction cranes dotting the skyline along the Cape Fear River during the recent Wilmington Parade of Homes. Large development projects open, underway or announced since 2014 include:
- Courtyard by Marriott
- CityBlock Apartments
- Community College Fine Arts Center
- 101 North Third Office Building
- County Administration Building
- 21 S. Front (NextGlass anchor tenant)
- Riverwalk Extension
- Farmin’ on Front Grocery
- North Waterfront Park
- Sawmill Point Apartments
- Riverfront Park Repair
- Hampton Inn Hotel
- Port City Marina & Restaurants
- Embassy Suites Hotel
- Riverplace (Water St. Deck Redevelop)
- Multi-Modal Center (Phase 1)
- Pier 33 Apartments
- aLoft Hotel
- Edward Teach Brewery
- Conlon Pier
- 2nd and Market
There were more than 80 homes showcased during the annual parade and the event included the debut of River Lights, one of the area’s newest active retirement communities North Carolina along the Cape Fear River. River Lights not only caters to retirees via its 55+ private gated neighborhood but caters to families of all ages in the rest of the stunning 1,396 acre Wilmington real estate development.
The annual Parade of Homes takes place every April and provides a great opportunity for home buyers to check out the quality of workmanship by Wilmington builders, new and creative floor plans and preview master planned communities.
Interesting statistics about Wilmington home sales in 2016:
- 3,734 new home permits
- average home price $297,000
- average price of homes featured in the Parade $470,000
- average home size 2,630 square feet
- square foot prices of homes we toured in the Parade ranged from $114 to $179
Communities we visited during the Parade of Homes:
River Lights, Wilmington NC - The area’s newest 55+ active adult community designed with seniors in mind as well as families of all ages. Del Webb is building the 55+ section with its own amenities but there is so much more. The riverfront community features a marina village with restaurants, a riverside boardwalk, lake house with a swimming pool and fitness center, 8 community parks, 7 miles of walking and biking trails, a 38 acre fresh water lake. Approved custom home builders include American Homesmith, Plantation Building Corp, H & H Homes, Trusst Builder Group, The Cottage Building Company, Charter Building Group and 70 West Builders. Homes and home site packages begin from the mid $200’s to the $600’s. Buyers can tour 17 furnished models daily. We highly recommend you connect with our trusted colleague Bill Boyer of Intracoastal Realty who will provide the history about the project as well as the most desirable areas to live within the community. He can be reached at 910-256-4503.
Compass Pointe, Leland NC - Always a pleasure to see the progress at Compass Pointe, a Caribbean resort-style community with a new golf course. Membership is optional. Trusst Builder Group was showing casing the Cedar Island II, a 4 bedroom, 3 bath, 2,270 square foot town home priced at $359,500 or $158 per square foot. Trusst Builder Group offers this same floor plan as a single family home. One of the best custom home builders in Wilmington, Trusst is proud to feature value-priced custom built homes without the custom home price tag. Amenities at Compass Pointe include a 10,000 square Grand Lanai, 6,000 square foot state-of-the-art fitness center, tennis courts and accent lakes. Compass Pointe is golf cart friendly. Compass Pointe won Real Estate Scorecard’s Bliss Award in 2015 for Happiest Community of the Year.
Windsor Park, Leland NC - Approximately 700 of the 900 homes planned have been built to date. Families can find affordable new homes in three distinct neighborhoods: Bridgeport, Bristol Ridge and Windsor Pines. People choose Windsor Park because of the big bang for the buck and low HOA fees, at around $24 a month. The neighborhood of Bridgeport features low maintenance brick townhomes priced under $150,000. With just 10% down, a buyer can expect their mortgage payment to be less than $1,000 a month with good credit. Bridgeport homes are wonderful for the first time buyer or downsizing retiree 3 bedroom homes with a garage. Windsor Pines features more modest Craftsman-style homes with prices beginning in the low $200’s. Amenities include a community clubhouse, outdoor swimming pool with lap lanes and children’s playground. Pyramid Homes is the community’s custom home builder who’s been building homes for more than 40 years. We toured the Concord model, a 4 bedroom, 3 bath, 2,069 square foot home priced at $249,594. That’s an $120 a square foot. Local school districts are Lincoln, Leland and North Brunswick.
Hearthstone, Leland NC - A neighborhood built by one of Wilmington’s finest custom home builders, Trusst Builder Group. Standard features include exotic hardwoods, stainless appliances, granite countertops, tile showers, integrated sound system, screen porches, landscaping, irrigation and much more. Neighborhood amenities include a stately entry, extensive landscaping and a brand new pool and bathhouse. HOA fees are $136 per quarter and include common area landscape maintenance. There were about a dozen pre-construction homes available priced from the low $300’s. We toured the Chase II model, a 4 bedroom, 3 bath, 2,213 square foot home priced at $334,500 or $151 per square foot.
Brunswick Forest, Leland NC - By far, one of the finest Wilmington NC real estate developments in Brunswick County. Over 1,000 homes have been built to date. The amenity list is lengthy and is centered around golf and wellness. Brunswick Forest won Real Estate Scorecard’s Best Hiking Community of the Year in 2016. Golf membership is optional. At any given time, there almost a dozen model homes to tour. We toured two stunning homes built by 70 West Builders, the Portsmith (3 bedrooms, 2.5 baths, 2,440 square feet $454,000 or $186 per square foot) and the Chesapeake (3 bedrooms, 3 baths, 3,234 square foot at $579,000 or $179 per square foot). The Chesapeake was a show stopper! We were impressed with the variety of textures and finishes. You can clearly see 70 West Builders takes pride in the details.
Mallory Creek Plantation, Winnabow NC - An established master planned community built by Stevens Fine Homes about 15 minutes from Leland and on the way to Southport on NC 133. Prices range from the low $200’s to mid $300’s. We toured the Danforth model, a 3 bedroom, 3 bath, 1,830 square foot home priced at $279,000 or $152 per square foot. Amenities include a competition size swimming pool, clubhouse and walking paths. Residents will soon enjoy future access to Brunswick Forest commercial area in a short drive or bike ride, with the opening of the new road connection estimated for the late summer of 2017.
Helmsport, Wilmington NC - Real Estate Scorecard’s 2017 Bliss Award winner for Best North Carolina Community of the Year. Logan Homes is the builder and they have done a knock out job with this boating community built along the Intracoastal Waterway. We toured the impressive Beach House Model built by custom home builder, Crane Building, a 5 bedroom, 4.5 bath, 3,902 square foot home priced at $1,775,000 overlooking the marina on one side and mesmerizing views of the Intracoastal Waterway on the other. Helms Port is one of the last remaining waterfront properties in Wilmington and is almost built out. Buyers can find custom waterfront homes along the Intracoastal will spare no detail in offering a magnificent, fully tailored layout. Build your dream home with unforgettable views. Lots choices include breathtaking marina front lots from the $500’s or lots with panoramic views of the Intracoastal Waterway and Masonboro Island from the $800’s. Folks can buy a waterfront lot now and build later. Amenities include a 75 slip deepwater marina, clubhouse and resort-style swimming pool, kayak launch, fire pit and gathering area.
River Oaks, Carolina Beach NC - One of home builder Bill Clark’s newest communities very close to the Cape Fear River. Homes feature large front and rear porches, historic styled gas lanterns, and detailed craftsmanship with all the advantages and efficiency of new construction. Each home is situated on one of the large wooded homesites that are specifically unique to this community. The crystal blue pool with its outdoor lounge area is just an added bonus for the homeowners that choose River Oaks Homestead Estates. We toured The Montgomery model, a 4 bedroom, 4.5 bath, 3,428 square foot home priced at $509,900 or $148 per square foot. This home featured a modern farmhouse look with shiplap walls and rustic stained wood columns. It is beautiful!
Woodlake by D.R. Horton, Carolina Beach NC - New homes just a short distance from downtown Wilmington and Carolina Beach. Home designs include open concept one story, two story and first floor owner suite plans with charming exteriors and an impressive list of included features. Amenities include a pool, clubhouse, sidewalks and two lakes with conservation areas offer a scenic backdrop to the neighborhood. In addition to a pool and clubhouse, Woodlake is anchored by two lakes, one with a fishing pier and the other features a kayak launch. The community is close to the Pleasure Island beaches. We toured The Litchfield C, a 4 bedroom, 2 bath, 2,032 square foot home priced at $307,000 or $151 per square foot. D.R. Horton offers discounts on closing costs when you choose their preferred lender. School districts are Anderson, Murray and Ashley.
Tralee Place, Carolina Beach NC - Built by Stevens Fine Homes. Here buyers will find new homes starting in the mid $200’s just minutes from Carolina Beach. The coastal community features one and two craftsman homes with classic front porches from 1,830 - 3,187 square feet. We toured the Beaufort model, a 4 bedrooms, 3.5 baths home, 2,560 square feet priced at $292,900 or $114 per square foot. That’s a big bang for the buck home. Steven Fine Homes has built over 2,500 homes since the late 1990’s. Folks searching for active retirement communities North Carolina will find it hard to find a more beautiful low maintenance home at $114 per square foot.
Willow Glen by Mungo Homes near Monkey Junction - A gated community nestled within the Beau Rivage Golf Course near Monkey Junction and Carolina Beach, Willow Glen features one and two-story homes on the golf course - or with golf course views – that start in the high $200s, and include up to 4,300 square feet. Willow Glen is an easy 10 minutes to Midtown Wilmington with shopping, dining and healthcare, and in addition to nearby outdoor recreation activities and water sports, neighborhood amenities include a swimming pool and clubhouse. We toured the Dalton model, a 4 bedroom, 3 bath, 2,537 home priced at $370,000 or $145 per square foot.
Hanover Lakes, Wilmington NC by Bill Clark Homes who was celebrating their 40th anniversary! Hanover Lakes is new Wilmington NC real estate development in the Wrightsville Beach area near Mayfair Town Center and the Wilmington airport. A 14 acre lake is the centerpiece of the community. Amenities planned include an outdoor lap-size swimming pool, kids water features and picnic areas. Coastal craftsman-style homes feature large front porches and garages with rear access. We toured The Hadley, The Willowbrook and The Sinclair model. Homes are priced from the high $200’s to low $300’s or $143 per square foot. The floor plans are very attractive.
River Landing, Wallace NC - Not on the Parade but we had heard so much about it, we had to go see it just on the north side of Wilmington. Established back in the late 1990’s, the gated golf community is stunning with lots of elbow room and mature trees. Approximately 500 homes have been built to date of the 1,600 planned. The 60,000 square foot clubhouse is one of the most grandiose we’ve seen and for obvious reasons, is a popular wedding venue. The community has three championship golf courses, an impressive sports and fitness center, vineyard and riverfront pavilion with kayak access.
Buyers can still find homesites to build in the low $20’s. Home prices average in the $300’s and a social club membership is about $100 a month with limited golf privileges. Folks who don’t want to live with the congestion of the city will find River Landing a perfect alternative. We highly recommend you connect with our trusted colleague Bill Boyer of Intracoastal Realty who will provide the history about the project as well as the most desirable areas to live within the community. He can be reached at 910-256-4503.
If you’re exploring the coastal Carolinas for the first time and are interested in active retirement communities North Carolina, ask for our complimentary Wilmington relocation information to learn more. It’s our pleasure to help!