2021 Just For Buyers Realty Neighborhood Awards

It has been a year like no other.  That particular line could be applicable to many different things in our life now.  But in terms of real estate, it’s never been more true.

BIG MAN ON CAMPUS AWARD

If you judge popularity, when it comes to real estate and neighborhoods, by the total number of sales, then Brunswick County is the home of the coolest cliques. In 2021 four of the top five neighborhoods in sales, and seven out of the top ten, were located in Brunswick County. Leading the pack was St. James Plantation, a large community with many amenities located in Southport. St James Plantation offers 81 holes of golf, with four clubhouses and restaurants, a marina with 475 boat slips on the Intracoastal Waterway along with swimming pools, tennis courts, and many other outdoor recreation activities. In 2021 a total of 375 homes sold in St James with an average price of $517,502 (compared to 2020 when a total of 330 homes sold with an average price of $443,000.

Top Five most popular neighborhoods

TALK OF THE AWARD

Have you noticed the change to the way townhouses are being built? A decade ago most of these multi family structures were single story units, marketed towards seniors who wanted to downsize and perhaps who were no longer interested in doing yard work. In 2021 a total of 469 new townhouses were built in the tri-county area. Approximately 20 of the new construction units are single story, the rest are two or three story properties. “Townhouses are no longer just for retirees, they are quickly becoming the new starter homes,” said Scott Saxton of Just for Buyers Realty. “It has been a very competitive year, especially for single family homes. A lot of first time buyers are losing out to investors who are coming in with cash offers. Townhouses are a way for first time buyers to get into the market, stop spending money on rent and start building equity. ” And while several new construction townhome communities are being erected in all three counties, it was a community where construction started in the mid 80’s that takes our Talk of the Town Award.  Linksider Townhomes are located just north of Snows Cut bridge near Ashley High School. A total of 37 units sold in 2021 with an average price of $200, 577.

THE HURRY, HURRY, HURRY AWARD

For real estate professionals one of the most important statics in the number of days a property sits on the market. Even in 2021, the most competitive and hectic year that anyone can remember, there were some neighborhoods where buyers had time to breath and think about submitting an offer. These tended to be communities on the high end of the price structure, where a property could  sit for weeks if not months before going under contract. It was a drastically different story in other areas- where buyers were forced to submit offers within minutes of seeing a property for the first time. (Only one community in the tri-county area managed a zero day average. One South Lumina is a condominium community in Wrightsville Beach. In April a dozen units sold in the development sold on the same day to the same buyer. Because of the unique details of that transaction we haven’t included it on our list.) Therefore the winner of the Hurry Hurry, Hurry Award is Hampstead’s Harrison Cove neighborhood where homes averaged only two days on the market.

Top Five Neighborhoods with Shortest Days on the Market

THE MORE THAN WE ASKED FOR AWARD

Before last year we’d heard the anecdotes of homes being sold for above asking price, but virtually all those stories came from California. In 2021 the trend became a realty in North Carolina. By our count a total of 129 neighborhoods in the tri-county area had an average sale price that was above its average asking price. To put it simply: buyers were willing to pay more, and in some cases thousands of dollars more. The biggest disparity came from the Ocean Isle community call Little Beach Land. A dozen homes sold in the waterfront neighborhood. The average price was $1,029,992 but the average sales price was $1,046,600. That’s an increase of more than $16,000.

Top five neighborhoods where the average sale price was above the average asking price:

THE LET’S MAKE A DEAL AWARD

Even in a competitive market buyers were able to find deals. The greatest leverage belonged to those shopping in the luxury market. Properties on the extreme high end were still going below the seller’s asking price. The greatest disparity was found in the BHI neighborhood on Bald Head Island. A total of 54 homes sold in the Brunswick County community. The average asking price was $1,415,741 but the average sale price was more than $93,0000 lower at $1,364,735.

Top five neighborhoods where the average price was below the average asking price:

THE KING OF THE CONDOS AWARD

In a coastal community condos are often times associated with investment properties. To be sure in 2021 buyers found a number of deals closer to the water with plans of turning them into short term rentals. However you may be surprised to learn that four of the top five condominium communities were located away from the beach inside the Wilmington city limits. The most popular was in the midtown area. Breezewood Condominiums are located near the intersection of Carolina Beach Road and George Anderson, right in the heart of the city. In 2021 a total of 44 units sold in the community for an average price of $187,725.

Top five most popular condominium communities.

THE NEW KID ON THE BLOCK AWARD

Buyers who were looking for something new had a lot of options in 2021. Many existing communities, some that have been around for years, still have empty lots for sale waiting for a new construction home to be built. We did not consider those existing communities for this award. To take the coveted spot as the New Kid on the Block the entire neighborhood had to start building in the last 12 months. The most popular new community is The Landings at Lewis Creek. Many of the homes purchased in this community, located on Wilmington’s north side, are yet to be occupied. In all a total of 97 homes sold in the neighborhood. When complete it will be made up of more than 200 homes.

Top five most popular new communities: