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First house listed at more than $3 million sold since 2010

WILMINGTON, NC (NEWS RELEASE) — Intracoastal Realty reached a significant sales milestone this month, with the $3.15 million sale of 14 Southridge Road on Wrightsville Beach, NC. This is the first sale over $3 million in Brunswick, New Hanover, and Pender counties since October 2010 and the first $3 million-plus sale on Wrightsville Beach since September 2009, according to local MLS data.

The nearly 5,000 square foot home is one of Wrightsville Beach’s premier oceanfront estates, with fantastic views of the Atlantic Ocean and a host of luxurious amenities. Intracoastal Realty agents represented both the buyer and seller of the property. The sales team of Angie Pool & Associates marketed the property, and Susan Keck of Bobby Brandon’s team negotiated the sale on behalf of the buyer.

The last $3 million-plus home sold in the area was Intracoastal Realty’s Margaret Barclay’s Piper’s Neck Road listing on Figure Eight Island, which sold for $3,495,000 on October 25, 2010. The last sale above $3 Million on Wrightsville Beach was Intracoastal’s Mark Bodford’s Parmele Blvd listing, which sold for $3.2 Million on September 15, 2009.

“The recent uptick in the sale of high-end properties is a potential indicator for a recovering real estate market,” said Jim Wallace, CEO of Intracoastal Realty. “We’re encouraged by the resurgence and think it bodes well for a recovering market.”

According to the Wilmington MLS, five properties have sold for $1 million or more since January 2012. During the same period last year, only one property sold for over $1 million.

Intracoastal Realty is the area leader in selling luxury properties. In 2011, Wilmington MLS data showed that Intracoastal Realty sold 41 properties in excess of $1 million, while the second place company sold eight.

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