Southport NC Real Estate - February Market Wrap

It's still too early to tell, but those who are following the real estate market in Brunswick County will find this February report similar to January's, but with a much broader mix of properties. Again, I am offering details of single-family site-built homes that have gone under contract in February. And staying with the same communities of interest in my January Report, my search includes the communities and developments I consider "my neck of the woods" including Southport, Bald Head Island, Oak Island, Arbor Creek, St. James Plantation, Sunset Harbor, Sea Watch, River Run Plantation, Winding River, River Sea, Lockwood Folly, Supply, Winnabow, Town Creek, Bolivia, and Boiling Spring Lakes.

Starting the furthest South here are the results: (33 total)

Bald Head Island had the highest listed price home under contract at $1,995,000 on Cape Fear Trail.

In Southport, there were eight. In town, one on Herring and one on Long Leaf were 129,000 and 199,000 respectively. On Spikerush in Indigo Plantation ... a real beauty for 499,900. In Harbor Oaks there was a foreclosure with an asking price of 290,000 ... wow. A new construction in Price's Creek went under contract at 399,000 as well as a home on Brenden Court for 395,000.

Oak Island had by far the most activity with 14, including two foreclosures in the mid 300s. Five interior homes priced between 169,000 and 178,000 went under contract. There were three more on the ocean side of Davis Canal in the 289,000-445,000 range. On the Yaupon end there were also three....one on Live Oak at 320,000, one on Trott at 849,000, and a great deal on Quail Hollow on the golf course at 399,900. Finally, on Caswell, was another golf course home in Ocean Greens at 499,000.

St. James Plantation had 3 homes under contract ... one on Ascot at 365,000, on Fairway Village at 399,000, and a fantastic home at the marina on Midshipman...990,000.

One of my favorite communities, Lockwood Folly, also had 3 homes ... A great home on the golf course at 235,000...crazy, a 3500 SF home on Genoes Point also on the golf course for 419,000... unbelievable, and finally another on Genoes Point but this one waterfront with dock on nearly an acre ... 1,350.000.

And finally, Boiling Spring Lakes had 4 go under contract ... two on Sycamore at 99,000 and 122,900, a foreclosure on Greensboro at 152,500, and one on Springdale at 156,000.

I continue to have strong leanings towards the more well-established communities here in coastal North Carolina. Now it seems the Brunswick County real estate market is leaning that way as well. When the market was hot, investors flocked to every new community trying to take advantage of creative financing incentives by developers and "first pick" opportunities. Now many of these are struggling. Lots are not selling well and spec homes sit vacant, victims of a market slowdown that no one ever expected to hit in second fastest growing county in North Carolina. Because we are such a strong retirement destination, I believe that recovery will come here a bit faster than most places. It's hard to imagine finding much better deals than are out there right now. I love finding them. Just give me a call.

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I ask you to consider the many advantages in having a Buyer's Agent assist you if you are considering a real estate purchase in Brunswick County. A Buyer's Agent represents YOUR best interests at all times, and at NO cost to you. I will show you ALL properties that meet your criteria, including the entire MLS, and For Sale By Owner. No pressure, no steering..... just helping you find the very BEST properties, uncovering material facts, negotiating the BEST price, and facilitating a smooth Closing. It's that simple.

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