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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: $643,581
Size Range: 2,454 to 98,446 Sq. Ft. Size Average: 10,271 Sq. Ft.
Gallery List Map
1 18 of 56
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.
New construction is complete and ready for you to move right in. 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
$ 795,000
904 Twisted Oak Place
Wilmington, NC 28405
Landfall
Bed / 3/1 Bath
4,703 Sq. Ft.
Property Type: House
MLS® #: 100051464
Under Contract
Contingency
$ 795,000
904 Twisted Oak Place | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100051464
House
3/1
4,703 s.f.
Ideal family home in Landfall on quiet cul-de-sac near the Intracoastal Waterway and Howe Creek. Heated floors in the kitchen and double sided fireplace connecting the dining room and living room keep everyone cozy! Renovated kitchen has stainless steel appliances, double ovens, gas cook top and central vac. Drop zone and laundry room located off of kitchen help keep the family organized. In addition to a master bedroom and office, there is a separate bedroom with its own bathroom and study on the first floor for guests. Large bonus room has a separate fitness area. Tons of walk-in storage throughout. New roof and fully encapsulated crawlspace.
Under Contract
Contingency
$ 774,900
801 Wild Turkey Place
Wilmington, NC 28405
Landfall
Bed / 3/1 Bath
3,679 Sq. Ft.
Property Type: House
MLS® #: 100059859
Under Contract
Contingency
$ 774,900
801 Wild Turkey Place | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100059859
House
3/1
3,679 s.f.
Stately Georgian styled brick home located in prestigious Landfall. Quality construction centered on a high corner lot features Charleston styled gated courtyard perfect for entertaining. Inside features two beautiful living rooms, formal dining, well appointed kitchen, full master suites located on each floor, custom wood features include built-ins, crown moldings, pocket doors, and wood flooring throughout. Four generously sized bedrooms combined with three full bathrooms and one half bath. Other features include new HVAC system, extensive landscaping, mature treed lot, three balconies, enclosed sunroom, custom fireplace, and room to grow with two unfinished spaces of 800 sq ft and 600 sq ft perfect for a playroom, studio, exercise room, etc Must see today!
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
$ 749,000
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
$ 739,000
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
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
$ 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
$ 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
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
$ 699,500
2216 Deepwood Drive
Wilmington, NC 28405
Landfall
4 Bed / 3/2 Bath
3,739 Sq. Ft.
Property Type: House
MLS® #: 100005366
Under Contract
Contingency
$ 699,500
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
$ 699,000
1867 Senova Trace
Wilmington, NC 28405
Landfall
Bed / 3/1 Bath
2,923 Sq. Ft.
Property Type: House
MLS® #: 100033537
Under Contract
Contingency
$ 699,000
1867 Senova Trace | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100033537
House
3/1
2,923 s.f.
This is a newly constructed home in the exciting new Battery Park neighborhood in Landfall, a beautiful gated waterfront community. This home has an open floor plan with 4 bedrooms and 3 1/2 baths, a metal roof, first floor master suite, ceramic tile baths, gourmet kitchen, and a private study with pocket doors. It backs up to conservation and is close to shopping, dining, Landfall Park, and Wrightsville Beach.
Under Contract
Contingency
$ 699,000
2013 Spanish Wells Drive
Wilmington, NC 28405
Landfall
Bed / 3/2 Bath
3,740 Sq. Ft.
Property Type: House
MLS® #: 100044774
Under Contract
Contingency
$ 699,000
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
$ 699,000
1831 Cricket Court
Wilmington, NC 28405
Landfall
Bed / 3/1 Bath
4,084 Sq. Ft.
Property Type: House
MLS® #: 100041817
Under Contract
Contingency
$ 699,000
1831 Cricket Court | Wilmington, NC 28405
Landfall
MLS® #
Property Type
Beds
Baths
Square Ft
100041817
House
3/1
4,084 s.f.
Location! Beautifully overlooking the 14th pond & green of Landfall's Dye course, & directly across from the Sports Center, it's easy to enjoy all that Landfall offers. A 1st fl Master & 2 bedrooms/study on the 1st level, plus an open floorplan create a comfortable flow throughout the home. You'll enjoy entertaining in the large Kitchen w/granite island, 2 ovens, built-in desk, and a wet bar leading to the spacious Dining Room & 2 story Great Room w/cozy gas fireplace. Spill out onto the screened porch to soak in the hot tub, or simply take in the splendid surroundings from the terrace, patio or 2nd story balcony. Other features include large Laundry Room w/storage, FROG/4th bedroom, freshly repainted exterior, termite bond, encapsulated crawl space, hurricane shutters & irrigation on well
No listings available.
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