ST. JAMES PLANTATION, NC (NEWS RELEASE) -- The 6,000-acre golf and marina community near Southport has been selling a new home or homesite every 28 hours since the start of the year.
Through June 30th, St. James Plantation has welcomed 154 new owners and generated more than $27 million in sales volume, more than any other Coastal Carolina community, according to the M.O.R.E. Report, the Rocky Mount, NC-based real estate research firm.
Home builders in St. James Plantation are also enjoying a robust revival. There are more than 150 new homes under construction in the community – representing a capital investment of more than $50 million – and at least another 100 homes in the pipeline.
What’s fueling the growth? “The biggest factor is the Baby Boomers from the northeast are returning to the market in force,” said Tom Condon, director of sales at St. James Plantation.
“The residential market in the northeast is unlocking, and Boomers are finally able to sell their homes and move south to better weather and lower taxes,” he said. “And with 10,000 Boomers retiring every day for the next 10 years, St. James is ideally positioned to benefit.”
Condon also noted that St. James – as well as other communities along the coast – is starting to attract more buyers from a little closer to home, especially the Raleigh-Triangle, Charlotte and the Greensboro-Winston-Salem markets.
“Staying in touch with family and friends has always been important for Boomers,” Katie Campbell, director of marketing at St. James Plantation said. “If that trend continues, we expect to see more and more of our future residents coming from North Carolina.”
Accordingly, St. James is budgeting more of its 2014 marketing dollars in the state, Campbell said. “In fact,” she added, “we’re planning to go to the Ideal Living real estate show in Raleigh this coming January.”
Founded in 1991 and incorporated in 1999, St. James Plantation (www.StJamesPlantation.com) offers a full complement of recreational amenities, including 81 holes of golf, a private beach club, full-service marina, four clubhouses, athletic clubs, resort-style swimming pools and tennis facilities, along with several miles of hiking and biking trails.
It has ranked as The Number One-Selling Community in the Coastal Carolinas for 21 straight years, and is now on pace to make it 22 in a row in 2013.