Photo courtesy of T.J. DRESCHEL PHOTOGRAPHY
The Do Good ReportWrightsville Beach1st Quarter 2013 &
Years ended 2010 - 2012
April 15, 2013
We are pleased to present this latest update on the Wrightsville Beach real estate market, reporting
activity through the end of the 1st quarter 2013. By standard definition, we are officially in a “Seller’s
Market” due to the lack of available homes for sale and increasing demand driven by access to cheap
money and an improving economy.
For 2013, we are optimistic that stability has returned to the market and our coastal town will
continue to attract buyers from within the Carolinas and around the world.
Want more information on the latest trends or for help with any of your real estate needs? You can
contact us at 910.616.1688 or via email at [email protected].
Best regards,
Do Good Real Estate
Executive Summary
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DO GOOD REAL ESTATE is a homegrown, socially minded realty company that delivers a "feel good" experience that no else offers. Our agents are experts in the field of real estate. We’re available to answer any questions you may have so don’t hesitate to contact us.
About Us
QUALITY, TRANSPARENCY & GIVING BACK – COME STANDARD
It is our goal to provide expert, thoughtful and honest advice throughout one of the most important transactions you will ever make. That is our commitment. We do this by combining top agents, cutting-edge technology and a new way of doing business to serve you.
We are a Certified Benefit Corporation and are accredited by the Better Business Bureau, which means we hold ourselves to a higher standard of accountability and transparency.
We love Wilmington! It’s our home too. That’s why we pledge 10% of our sales commissions to support local charities of your choosing, to improve lives and to impact social change. We “Do Good” for you. You “Do Good” for others.
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We love Wilmington! It's our home too. That's why we pledge 10% of our sales
commissions to support local charities, of your choosing, to improve lives and to impact
social change. We "Do Good" for you so that you can "Do Good" for others.
The DO GOOD Donation ProgramDo Good. Feel Good.
SELECT A CAUSELIST WITH US MAKE AN IMPACT
We start with a successful pricing strategy. Then we maximize marketing channels to tell your home's UNIQUE STORYUNIQUE STORYUNIQUE STORYUNIQUE STORY, embracing technology to attract a pool of qualified buyers.
After your transaction closes, you will choose a local organization that you would like to support. if you don't already have one in mind we will help guide you to some of the great organizations our clients have selected in the past.
Once you choose the recipient charity we will make the donation. If you wish we’ll coordinate a visit to the charity so you can make the donation with us in person. We’ll even spread the word that a donation has been made with your name on it.
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Organizations We Support
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Key Facts
• Nationally, the number of homes for sale have dropped by 20% from the prior year. The trend in the Wrightsville
Beach real estate market is no exception with inventories dropping by 17% from the end of 1st quarter 2012. There
were 109 listings available at the end of March 2013, which is the lowest level in 7 years.
• Price indicators are significantly higher. The most notable increase is the average sales price per sq. ft. increasing
by 34% from 356 sq. ft. in 4th quarter 2012 to 477 sq. ft. in 1st quarter 2013. The average sales price and median
sales price also increased by 14% and 25%, respectively, from the prior quarter with the average sales price at
$863,659 and the median sales price at $795,000.
• Mortgage rates inched up slightly. The national average for a 30 year fixed rate mortgage increased by 22 basis
points from the 50 year-low of 3.36% at 4th quarter 2012 to 3.50% at 1st quarter 2013.
• On a Macro level, the surge in the stock market indicates a strong rebound in the economy. The Dow Jones
Industrial Average was up 8.7% in 1st quarter 2013 and passed the all-time high set in October 2007 (pre-recession).
The unemployment rate in North Carolina also decreased by 7.8%, from 10.2% at 1st quarter 2012 to 9.4% at 1st
quarter 2013.
- 2 -Page 5
Source: MLS of the Wilmington Regional Association of REALTORS
Q1'13 % Q4'12 % Q3'12 % Q2'12 % Q1'12
Total Sales 17 -55% 38 12% 34 55% 22 38% 16
Pending Sales 5 -17% 6 -33% 9 -36% 14 1300% 1
Median Sale Price $795,000 25% $633,500 15% $552,750 -8% $600,000 -33% $900,000
Average Sale Price $863,659 14% $754,844 4% $726,550 5% $695,045 -38% $1,128,250
Average Price per Sq. Ft (Sold) 477 34% 356 -4% 371 -5% 390 -16% 466
Homes For Sale 109 8% 101 -23% 131 -17% 157 19% 132
% Of Sale Price To List Price 83% -5% 87% 9% 80% -3% 83% 1% 82%
Average List Price $1,019,175 16% $880,755 -14% $1,030,100 14% $900,436 -39% $1,474,144
Average Days On Market 343 29% 266 -27% 362 -4% 378 17% 323
Overall Sold Volume $14,682,200 -49% $28,684,072 13% $25,429,250 66% $15,291,000 -15% $18,052,000
Average 30-year mortgage 3.50% 4% 3.36% -5% 3.55% -6% 3.79% -3% 3.92%
Average 15-year mortgage 2.74% 3% 2.67% -6% 2.84% -7% 3.04% -5% 3.19%
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Source: MLS of the Wilmington Regional Association of REALTORS
Q1'13 % Q4'12 % Q3'12 % Q2'12 % Q1'12
Total Sales 8 -58% 19 36% 14 100% 7 -13% 8
Pending Sales 4 0% 4 -33% 6 -25% 8 - -
Median Sale Price $1,128,500 55% $729,000 -34% $1,100,000 47% $750,000 -47% $1,410,000
Average Sale Price $1,175,250 19% $983,791 -12% $1,116,633 -6% $1,186,000 -26% $1,592,125
Average Price per Sq. Ft (Sold) 496 42% 349 -9% 383 10% 347 -28% 480
Homes For Sale 42 -2% 43 -30% 61 -13% 70 21% 58
% Of Sale Price To List Price 77% -12% 88% 12% 78% -3% 81% 3% 79%
Average List Price $1,466,857 29% $1,139,710 -30% $1,630,600 -1% $1,649,000 -24% $2,167,375
Average Days On Market 361 78% 203 -3% 210 -34% 318 10% 290
Top Sold Price $2,100,000 19% $1,765,000 -14% $2,050,000 -20% $2,550,000 -19% $3,150,000
Overall Sold Volume $9,402,000 -50% $18,692,022 12% $16,749,500 102% $8,302,000 -35% $12,737,000
Average 30-year mortgage 3.50% 4% 3.36% -5% 3.55% -6% 3.79% -3% 3.92%
Average 15-year mortgage 2.74% 3% 2.67% -6% 2.84% -7% 3.04% -5% 3.19%
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Source: MLS of the Wilmington Regional Association of REALTORS
Q1'13 % Q4'12 % Q3'12 % Q2'12 % Q1'12
Total Sales 9 -53% 19 -5% 20 33% 15 88% 8
Pending Sales 1 -50% 2 -33% 3 -50% 6 500% 1
Median Sale Price $590,000 18% $500,000 20% $418,250 -20% $525,000 -28% $732,500
Average Sale Price $586,689 12% $525,897 21% $433,988 -7% $465,933 -30% $664,375
Average Price per Sq. Ft (Sold) 461 27% 362 0% 362 -12% 411 -9% 453
Homes For Sale 67 16% 58 -17% 70 -20% 87 18% 74
% Of Sale Price To List Price 88% 1% 87% 7% 82% -3% 84% -2% 86%
Average List Price $670,978 8% $621,800 7% $579,725 5% $551,107 -29% $780,913
Average Days On Market 330 0% 329 -31% 477 17% 406 14% 357
Top Sold Price $976,200 -16% $1,158,000 47% $790,000 -7% $850,000 -8% $925,000
Overall Sold Volume $5,280,200 -47% $9,992,050 15% $8,679,750 24% $6,989,000 31% $5,315,000
Average 30-year mortgage 3.50% 4% 3.36% -5% 3.55% -6% 3.79% -3% 3.92%
Average 15-year mortgage 2.74% 3% 2.67% -6% 2.84% -7% 3.04% -5% 3.19%
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Source: MLS of the Wilmington Regional Association of REALTORS
2012 % 2011 % 2010
Total Sales 111 48.0% 75 50.0% 50
Median Sale Price $ 648,000 4.5% 620,000 -23.0% 805,000
Average Sale Price $ 787,895 2.3% 770,013 -16.6% 923,300
Average List Price $ 1,017,280 3.7% 980,601 -46.5% 1,832,322
% Of Sale Price To List Price 83.5% 3.4% 80.8% 9.2% 73.9%
Average Days On Market 327 -4.8% 343 -10.0% 381
Top Sold Price $ 1,158,000 32.3% 875,000 -39.6% 1,448,000
For Sale 101 -22.9% 131 -15.5% 155
Months Of Inventory 11.2 -43.3% 19.8 -46.7% 37.2
Total Volume $ 87,456,322 51.4% 57,750,976 25.1% 46,165,000
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24 33
49
26
42
62
-
20
40
60
80
100
120
2010 2011 2012
Single Family Condos
Total Sales Volume ($ in thousands) Sales
Sales by Price Point
7
1
20
3
31
6
18
11
22
13
30
19
1
6
9
1
10
4
4
10
2
4
4
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Condos
Single Family
Condos
Single Family
Condos
Single Family
20
10
20
11
20
12
> $500K $500K - $1M $1M - 1.5M $1.5M - $2M > $2M
$29,510 $37,526
$56,481
$16,656
$20,225
$30,976
$-
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
$100,000
2010 2011 2012
Single Family Condos
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Listing Inventory
7662
43
79
69
58
0
20
40
60
80
100
120
140
160
180
2010 2011 2012
Single Family Condos
$1,230 $1,137 $1,153
$641
$482 $500
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
2010 2011 2012
Single Family Condos
Average Sales Price ($’s in thousands)
65.3%
78.7%82.6%81.9% 82.4% 84.3%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
2010 2011 2012
Single Family Condos
List to Sell %
437
275
236
330
397 399
-
50
100
150
200
250
300
350
400
450
500
2010 2011 2012
Single Family Condos
Days on Market
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2012 % 2011 % 2010
Total Sales 49 48.5% 33 37.5% 24
Median Sale Price $ 884,000 -12.5% 1,010,000 5.2% 960,000
Average Sale Price $ 1,152,664 1.4% 1,137,141 -7.5% 1,229,563
Average List Price $ 1,530,520 5.7% 1,447,464 -50.4% 2,919,779
% Of Sale Price To List Price 82.6% 5.0% 78.7% 20.5% 65.3%
Average Days On Market 236 -14.3% 275 -37.1% 437
Top Sold Price $ 3,150,000 8.8% 2,895,000 7.2% 2,700,000
Months Of Inventory 16 -36.6% 25 -45.5% 45
Total Volume $ 56,480,522 50.5% 37,525,651 27.2% 29,509,500
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2012 % 2011 % 2010
Total Sales 62 47.6% 42 61.5% 26
Median Sale Price $ 480,000 -7.7% 520,000 -20.0% 650,000
Average Sale Price $ 499,610 3.7% 481,555 -24.8% 640,596
Average List Price $ 611,655 -0.3% 613,781 -25.9% 828,515
% Of Sale Price To List Price 84.3% 2.3% 82.4% 0.6% 81.9%
Average Days On Market 399 0.5% 397 20.3% 330
Top Sold Price $ 1,158,000 32.3% 875,000 -39.6% 1,448,000
Months Of Inventory 15 -34.6% 23 -49.7% 47
Total Volume $ 30,975,800 53.2% 20,225,325 21.4% 16,655,500
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SINGLE FAMILY
List/Sell $ Address Community List % DOMPrice Per
Sq FtSq Ft Lot Sz
Year
Built$2,100,000 305 S Lumina Ave Not In Subdivision 76.4% 147 626 3,356 0.38 1957
$1,500,000 719 S Lumina Ave #1 & 2 Ocean Reef Townhomes 60.0% 539 384 5,100 0.28 1993
$1,330,000 4 Sunset Ave Not In Subdivision 53.2% 1,040 415 3,115 0.12 2005
$1,300,000 6 Sand Dollar Ln Shell Island 100.0% 25 775 2,157 0.24 1956
$957,000 24 Pelican Dr Channel Acres 100.7% 8 665 2,748 0.18 1984
$950,000 112 N Channel Dr Shore Acres 65.5% 274 447 2,405 0.10 1955
$715,000 110 Live Oak Dr Harbor Island 82.3% 143 349 3,964 0.11 2005
$550,000 12 Bahama Dr #A & B Bahama Breezes 78.7% 495 305 3,628 0.12 1998
CONDOS
List/Sell $ Address Community List % DOMPrice Per
Sq FtSq Ft Lot Sz
Year
Built$976,200 10 E Atlanta St #B Not In Subdivision 91.4% 311 522 622 1986
$960,000 17 E Columbia St #A Not In Subdivision 96.1% 36 658 2,187 0.10 1953
$795,000 2400 N Lumina Ave #2205 Duneridge Resort 92.5% 252 589 540 0.00 1999
$735,000 102 Seaside Ln Channel Walk 67.1% 963 409 2,625 0.15 1988
$590,000 12 E Atlanta St #A Sunrise Villas Condo 100.0% 148 381 1,355 1973
$475,000 95 S Lumina Ave #1-E Station One 80.6% 621 504 1,654 0.11 1938
$350,000 322 Causeway Dr #209 Seapath Towers 90.0% 310 333 1,400 0.01 1990
$234,000 2700 N Lumina Ave #714 Shell Island Resort 93.6% 68 425 1,139 0.10 1950
$165,000 701 Causeway Dr #103 Harbor Inn Condo 82.9% 257 330 2,381 0.13 1998
Source: MLS of the Wilmington Regional Association of REALTORS
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W i l m i n g t o n , N C 2 8 4 0 3
9 1 0 . 6 1 6 . 1 6 8 8
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