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11% Increase in Landfall Real Estate Values | Sales up 29%

Landfall Beats Local Wilmington NC real estate market 11% to 8%

If home values are your barometer of choice then Landfall real estate blew Wilmington away with values rising 11% versus the same quarter a year ago.  However it was combined with 29% more sales transactions than a year ago as well.  Throughout the analysis the 3rd quarter is used to compare against the 3rd quarter for more accuracy as opposed to month to month comparisons that are not reliable.

featured image Landfall real estate blog update 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Video

 

Partial Transcription for Landfall Market Update Video

Good morning everybody, I am Jay Seville the head of the Justnewlistings.com team in

Wilmington, North Carolina. I happen to own JustNewListings.com Realty as well in

Washington DC and Northern Virginia. The subject this morning is landfall. We are going to

look at quarter 3 of 2013 versus quarter 3 of 2012. One thing that you can never do in real estate

and it’s a typical mistake that the so called “journalists” make that cover news stories here and

there locally or even nationally with real estate, you can’t compare month-to-month data. It’s

worthless, it’s useless, it has nothing to do with what’s going on in the real estate market because

there is just going to be fluctuations every month. Some expensive home may sell one month

whereas the next month that $2 million home did not sell, which greatly distorts averages and

perhaps even medians, and you also have seasonal cycles – you have cycles within real estate

every year. Some months are just naturally higher than other months because of the cycle of

real estate in that local market. So if you compare October to September you’re already going to

have a big distortion in what the trends are going to be, but quarter-to-quarter comparisons are

very useful to us and even better than that are year-to-year comparisons. So right now we are in

quarter 3 of 2013, let’s compare it to quarter 3 of 2012 for landfall. A few days ago I did it for

all of Wilmington and now if you Google, you know, landfall homes for sale in Wilmington I

probably have five pages on page two of Google, maybe one on page one, but this is a niche and

I love representing buyers and negotiating aggressively in landfall.

So real quick, here’s what’s going on compared to last year. The number of landfall home sales

is up 29% compared to a year ago. When you shoot down here, this is the quarter-to-quarter

comparison July through September and we have 28.6%. So, it’s a busy market, how does that

relate to Wilmington, well in Wilmington for single family houses the number of home sales

was up 17%. So landfall is definitely keeping the trend and generally, I mean overwhelmingly

if a region is up then you are going to find various niche markets within the region going along

with the flow of the area as a whole. Now sometimes the impacts of price increases or decreases

will impact that niche market within the regional market at a different point, like a decrease in

prices may not hit landfall for example until six months later than it hits the rest of Wilmington

or vice versa, but generally even the niche markets within a region are going to follow the same

trend. So that’s a good example for it. Next we have the sold price compared to the list price.

So in landfall it stayed even, right here we have a 0%, 91% was the sold price compared to list

price for the third quarter and the rest of Wilmington I believe it was 94%. So often with more

expensive homes you have more room for negotiation, it works out that way. The average days

on market for landfall, how long does it take a home to sell? It was the same as the third quarter

last year, so that’s really great. Generally 210 days, you know, 211 this month – this year, last

year it was 208, so we are talking 6-1/2 months to 7 months is the average sale. So keep this in

mind those of you are listing homes with any broker including myself. Usually it takes a while

to sell these landfall homes. They are expensive and they are high demand that’s for sure, but six

months is very normal. If it’s priced right, let’s say instead of negotiating down to 91%, but it’s

only going to require maybe a 4% negotiation, so instead of listing at 600, they’ve listed it at 569.

Well, good chance it’s only going to take three months to sell the house and its going to end up

selling almost identically at its market value as it would have the other way. So it’s hard to beat

the market because you have educated buyer agents like me on the other hand trying to get 1

to 3% below the market value. So you want to sell your home quicker price it more closely to

market value and when you get to the right point, don’t budge anymore someone is going to buy

your house and that’s how you have a quicker sale in landfall.

 

 

Market data Landfall real estate sold price to list price 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Landfall real estate prices up 3rd quarter 2013 compared to year ago

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Price Range: $500,000 to $799,900 Price Average: $648,347
Size Range: 2,454 to 98,446 Sq. Ft. Size Average: 10,539 Sq. Ft.
Gallery List Map
1 18 of 59
1 2 3 4
Under Contract
Contingency
$ 799,900
822 Fox Ridge Lane
Wilmington, NC 28405
Landfall
Bed / 4/1 Bath
3,600 Sq. Ft.
Property Type: House
MLS® #: 100040247
Under Contract
Contingency
$ 799,900
822 Fox Ridge Lane | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100040247
House
4/1
3,600 s.f.
Plans are ready to go for the last pond front lot on Fox Ridge Lane. 10' ceiling heights on first floor. Formal dining, large living room with fireplace. Expansive master suite with sitting area, huge walk in closet, double vanity and separate shower in dreamy master bath. Kitchen with walk in pantry. Oversized laundry room. 4th bedroom upstairs with walk in closet and full bath. Covered front porch, double car garage and raised patio in back with trellis.
Under Contract
Contingency
$ 775,000
2001 Scrimshaw Place
Wilmington, NC 28405
Landfall
4 Bed / 4/1 Bath
5,179 Sq. Ft.
Property Type: House
MLS® #: 30528107
Under Contract
Contingency
$ 775,000
2001 Scrimshaw Place | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
30528107
House
4
4/1
5,179 s.f.
This elegant home in the gated community of Landfall has everything you need. When you walk in, you get the feel of elegance with vaulted ceilings in the living room, hardwood floors throughout, exquisite moldings and much more. The gourmet kitchen is open to the family room and the large breakfast area all with views of the #9 Tee of the Nicholas golf course. The kitchen features granite countertops, Dacor stainless appliances, double ovens, a gas cooktop, and roomy buffet/butler area. The master bedroom is downstairs with a sitting area and ample master bath with Jacuzzi tub, glass shower, dual vanities, and extra large his and her closet space. Downstairs is another guest bedroom with its own private bath. Upstairs you will find two more bedrooms also with private baths and an
Under Contract
Contingency
$ 769,500
700 Planters Row
Wilmington, NC 28405
Landfall
Bed / 3/1 Bath
4,363 Sq. Ft.
Property Type: House
MLS® #: 100044942
Under Contract
Contingency
$ 769,500
700 Planters Row | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100044942
House
3/1
4,363 s.f.
Stunning Country French Custom home with attractive features, large living and dining rooms, kitchen with oversized breakfast area and fireplace. First floor master includes an enormous closet with lovely windows for natural light. Huge lot perfect for cabana and pool.
Under Contract
Contingency
$ 750,000
2020 Pelican Reach Place
Wilmington, NC 28405
Landfall
Bed / Bath
98,446 Sq. Ft.
Property Type: Land
MLS® #: 30522777
Under Contract
Contingency
$ 750,000
2020 Pelican Reach Place | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
30522777
Land
98,446 s.f.
One of Landfall's largest lots (2.26 acres!) overlooking the Nicklaus 9th hole and Landfall Clubhouse. This home site is located at the end of a quiet cul-de-sac and features long water and golf views.
Under Contract
Contingency
$ 750,000
2030 Balmoral Place
Wilmington, NC 28405
Landfall
Bed / Bath
88,993 Sq. Ft.
Property Type: Land
MLS® #: 100046028
Under Contract
Contingency
$ 750,000
2030 Balmoral Place | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100046028
Land
88,993 s.f.
Waterfront homesite in Landfall on Howe Creek with 334ft of water frontage. This 2.043 acres. property overlooks the 4th green with views of 3rd of Landfall's Nicklaus Marsh Golf Course. Numerous live Oaks and rolling topography featuring a high bluff with a wooded area for privacy. Property is surveyed and is clearly marked with stakes, wetland lines, and flood zones. A full topographic survey with trees and a boundary plat map is included. An example site plan of a conceptual home with locations of a home rendering and floor plan is included to illustrate the potential of this property. Located in the estate section of landfall in the sought-after Highlands. Landfall features 45 holes of Pete Dye and Jack Nicklaus golf along with tennis, basketball, fitness, fine dining options.
Under Contract
Contingency
$ 749,900
2115 Graywalsh Drive
Wilmington, NC 28405
Landfall
Bed / 4 Bath
3,300 Sq. Ft.
Property Type: House
MLS® #: 100012689
Under Contract
Contingency
$ 749,900
2115 Graywalsh Drive | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100012689
House
4
3,300 s.f.
Your dream home is being built...Golf course front property with waterviews overlooking the pond on Nicklaus hole #7. Enjoy tray ceilings in living room, breakfast room and formal dining room. Open concept living. Large master suite on first level with a big walk in closet, dual sinks, separate shower. Bonus room upstairs with walk in closet, full bath, could be fourth bedroom or even a second master suite. Finished sunroom overlooking golf course and a large patio with trellis. Double car garage.
Under Contract
Contingency
$ 749,000
1626 Pembroke Jones Drive
Wilmington, NC 28405
Landfall
Bed / 3/1 Bath
4,390 Sq. Ft.
Property Type: House
MLS® #: 100020681
Under Contract
Contingency
$ 749,000
1626 Pembroke Jones Drive | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100020681
House
3/1
4,390 s.f.
A classic colonial located in the gated Landfall community. This stately brick home offers 5 bedrooms, 3.5 baths and boasts over 4,300 sq. ft. A 2 story foyer featuring marbled floors welcomes you into a home built for entertaining. The formal dining room along with a den, a home office and master bedroom are downstairs. Also downstairs you will find an oversized living room with rich wood paneling and wood detail around the fireplace. Upstairs you will find 4 more bedrooms, and a bonus room with a wet bar. Outside is a large screened porch overlooking the shady backyard. There is an additional 600+ sq. ft. on the third floor that is unheated but has been plumbed for a bathroom and is HVAC ready. This house is close to the Eastwood Gate and minutes to Wrightsville Beach, fine dining and
Under Contract
Contingency
$ 745,000
2225 Masons Point Place
Wilmington, NC 28405
Landfall
Bed / Bath
23,522 Sq. Ft.
Property Type: Land
MLS® #: 30515177
Under Contract
Contingency
$ 745,000
2225 Masons Point Place | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
30515177
Land
23,522 s.f.
One of Landfall's most dramatic homesites! High bluff with gentle slope to the water loaded with majestic hardwoods. Beautiful long views of Howe Creek, the Intracoastal waterway, the inlet, and even the Atlantic Ocean! A nature lover's delight.
Under Contract
Contingency
$ 739,999
2013 Spanish Wells Drive
Wilmington, NC 28405
Landfall
Bed / 3/2 Bath
3,740 Sq. Ft.
Property Type: House
MLS® #: 100044774
Under Contract
Contingency
$ 739,999
2013 Spanish Wells Drive | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100044774
House
3/2
3,740 s.f.
Located on a quiet cul-de-sac in the heart of Landfall and overlooking a 40- acre conservation park with trails, this newly renovated home features real stone fireplaces and accents inside and out. The vaulted ceilings allow for great natural light and create an ideal atmosphere for the private, wooded surroundings. The first floor master suite includes huge walk-in closets and bath with custom steam shower. The kitchen includes Thermador appliances with a built in refrigerator and a gas range. There are an additional 3 bedrooms and a study upstairs. Other recent upgrades include new HVAC units and mini splits, and an upgraded alarm system.
Under Contract
Contingency
$ 739,000
1427 Pembroke Jones Drive
Wilmington, NC 28405
Landfall
Bed / 4/1 Bath
4,399 Sq. Ft.
Property Type: House
MLS® #: 100047045
Under Contract
Contingency
$ 739,000
1427 Pembroke Jones Drive | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100047045
House
4/1
4,399 s.f.
This low country design is located in Landfall's cherished first phase and offers broken views of the Pete Dye Lake. From stepping into the marble foyer to the vaulted sunken living room; from the spacious new kitchen overlooking breakfast area and sunroom to the first floor master suite with new bath (including frameless shower) and his and her walk-in closets, this well-kept home has an additional 4 bedrooms/3 baths upstairs and includes an ''in-law suite'' with private stairs and kitchen living area.
Under Contract
Contingency
$ 739,000
1535 Radian Road
Wilmington, NC 28405
Landfall
Bed / 3/1 Bath
4,292 Sq. Ft.
Property Type: House
MLS® #: 100058157
Under Contract
Contingency
$ 739,000
1535 Radian Road | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100058157
House
3/1
4,292 s.f.
The circular drive is a great way to arrive at the entrance to this beautiful, traditional southern style Landfall home. Step into the grand foyer, & admire the newly refinished hardwood floors that go throughout the downstairs. Main living area has a formal dining room, gourmet-style kitchen with granite countertops, breakfast area, study, & formal living room with a fireplace. The master suite has a large walk-in closet & a master bath with a whirlpool tub, 2 sinks & a separate shower. The upstairs has 2 bedrooms & 2 baths, plus a room over the garage that could be a fourth bedroom. The home comes with a separate side driveway to access the oversized 2 car garage. Outside patio is great for entertaining & enjoying the professionally landscaped fenced-in yard.
Under Contract
Contingency
$ 739,000
2113 Forest Lagoon Place
Wilmington, NC 28405
Landfall
Bed / 4/1 Bath
4,054 Sq. Ft.
Property Type: House
MLS® #: 100055813
Under Contract
Contingency
$ 739,000
2113 Forest Lagoon Place | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100055813
House
4/1
4,054 s.f.
Located on one of Landfall's premier golf course lots, this home is a must see if you love beautiful pond and golf course views. This 4 bedroom, 5 bath home is situated on hole #1 of the Nicklaus course with views of gorgeous pond. Convenient to the Nicklaus Clubhouse and driving range and located in the heart of Landfall.
Under Contract
Contingency
$ 719,900
1859 Senova Trace
Wilmington, NC 28405
Landfall
Bed / 3/1 Bath
2,706 Sq. Ft.
Property Type: House
MLS® #: 100025001
Under Contract
Contingency
$ 719,900
1859 Senova Trace | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100025001
House
3/1
2,706 s.f.
Proposed Construction. Southern coastal home in Landfalls newest community of Battery Park. Solidly built and spacious home bordering green space. A welcoming front porch leads to a foyer, an open great room with gas fireplace accented by custom built-ins, formal dining room and gourmet kitchen with large center island. First floor master suite features a large tiled shower and walk-in closet. A screened porch is accessible from the master bedroom or the kitchen/dining area. Second floor boasts 3 additional bedrooms, 2 full baths and a lounge area that can be used as a bonus room, office or playroom. Great location close to the Eastwood gate of the community, with easy access to Wrightsville Beach and nearby shopping, restaurants and nightlife.
Under Contract
Contingency
$ 719,000
2216 Deepwood Drive
Wilmington, NC 28405
Landfall
4 Bed / 3/2 Bath
3,739 Sq. Ft.
Property Type: House
MLS® #: 100005366
Under Contract
Contingency
$ 719,000
2216 Deepwood Drive | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100005366
House
4
3/2
3,739 s.f.
DRAMATICALLY REDUCED! PRICED TO SELL! Most sought after, this rare Landfall find is now available. All brick construction English Tutor home situated on a site that has 137' on the Nicklaus Ocean #2 fairway. It is within walking distance to the Landfall Clubhouse, Nicklaus Practice Area, Landfall Lake and walking trails. Exceptional architectural detailing is noted throughout this home from its grand entry with archways and the finest custom woodwork. In addition to 4 bedrooms, 3 full baths, there are 2 half baths, a large media/bonus room, sunroom and terrace. Two fireplaces, gas cooking, 48 Sub Zero, butler's pantry, wine fridge, and lots of custom cabinetry make this kitchen a chefs delight.
Under Contract
Contingency
$ 719,000
2404 Ocean Point Place
Wilmington, NC 28405
Landfall
Bed / 3/1 Bath
4,006 Sq. Ft.
Property Type: House
MLS® #: 100046814
Under Contract
Contingency
$ 719,000
2404 Ocean Point Place | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100046814
House
3/1
4,006 s.f.
Landfall has it all! Warm, inviting Classic Southern home on the Nicklaus Ocean Course in the most desirable part of Landfall. Gracious living with formal living and dining rooms, open kitchen/breakfast/family room overlooking the screened porch and covered pergola. This custom built home has had only one owner and it is lovingly maintained. Located in the Ocean Point/Ocean Ridge area of Landfall and situated on a quiet cul-de-sac, this home is elegant, yet comfortable. View the Nicklaus golf course, and broken views of the Atlantic Ocean and the Intracoastal Waterway.
Under Contract
Contingency
$ 709,900
1871 Senova Trace
Wilmington, NC 28405
Landfall
Bed / 3/1 Bath
2,670 Sq. Ft.
Property Type: House
MLS® #: 100025003
Under Contract
Contingency
$ 709,900
1871 Senova Trace | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100025003
House
3/1
2,670 s.f.
Southern coastal home in Landfalls newest community of Battery Park. This spacious home will border green space for extra privacy. A welcoming front porch will lead to a foyer and elegant great room that will showcase a gas fireplace. The open layout will feature the great room plus a formal dining room and gourmet kitchen with large center island. A large, private rear porch will be perfect for sunrises and sipping coffee. First floor master suite will feature a large tiled shower, tub and giant walk-in closet. Second floor will boast 2 additional bedrooms, 2 full baths and a lounge area that can be used as a bonus room, theater or playroom.
Under Contract
Contingency
$ 699,900
2016 Montrose Lane
Wilmington, NC 28405
Landfall
Bed / 4 Bath
4,139 Sq. Ft.
Property Type: House
MLS® #: 100050451
Under Contract
Contingency
$ 699,900
2016 Montrose Lane | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100050451
House
4
4,139 s.f.
Location..Location..Location..Beautiful 4 Bedroom 4 Bath home located on an estate lot in The Highlands neighborhood of Landfall. A great open concept layout featuring one floor living with the fourth bedroom, game room and full bath located on the second floor.The home features walls of glass and dramatic vaulted ceilings, rich hardwood floors, plantation shutters, spacious first floor master suite, sunny and open kitchen with granite and carrera marble countertops and stainless appliances. The adjoining family room leads to an expansive covered rear patio looking out onto the second hole of the Nicklaus Marsh Course.A deep lot of nearly 3/4 acre with mature landscape and circular drive with 3 car garage provide a serene and private setting.Owner is a licensed real estate broker.
Under Contract
Contingency
$ 699,900
1325 S Moorings Drive
Wilmington, NC 28405
Landfall
Bed / 3/1 Bath
3,192 Sq. Ft.
Property Type: House
MLS® #: 100053322
Under Contract
Contingency
$ 699,900
1325 S Moorings Drive | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100053322
House
3/1
3,192 s.f.
Beautiful 3 Bedroom, 3.5 Bathroom home located in the Landfall Community. Master Suite and 2nd Bedroom are located on the 1st floor, both with private en suite bathrooms. Spacious Living Room next to Kitchen and Breakfast Room. Kitchen has an island, pantry and access to Formal Dining Room. Plus there's a Room perfect for a Home Office next to the Master Suite. Upstairs is the 3rd Bedroom with it's own private bathroom and closet. Gorgeous covered back patio has an outdoor fireplace and step out in the backyard to enjoy the private in-ground pool. This house has lots to offer. Make an appointment to see it today!
No listings available.
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