Cape Fear seeing a major rise in high-end home sales

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WILMINGTON, NC (WWAY) — The Cape Fear experienced a major rise in luxury home sales towards the end of 2020, and the market boom is showing no sign of slowing down any time soon.

According to ‘Just for Buyers Realty’, March was the most prolific high-end home sale month on record, with 52 luxury houses sold.

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One home on South Lumina Avenue in Wrightsville Beach sold for six-million dollars last month, one-hundred-thousand dollars above the asking price.

Brokers with Nest Realty say the pandemic has played a major role in the spike in sales of high priced homes.

“Anybody that wanted to have second home has decided that now is the time to have a second home because they don’t want to be stuck somewhere again,” broker Jessica Pirone said.

“We definitely are seeing a big influx of out of state and out of town buyers,” broker Rebecca Dawson added. “I think with the ability to work remotely, people are realizing ‘if I can work from anywhere, why not work from the beach’.”

Most realty brokers feel the demand for luxury homes will continue to outweigh supply well into next year.