Market Update: Carolina Beach and Kure Beach, NC

Lots of deals right now at Carolina Beach and Kure Beach. IRC just had a price drop of $ 50 K on an oceanfront home. It is now priced at $ 525K for oceanfront. These are 2003 or earlier prices. In 2005 this would've have been closer to a 1 million dollar asking price. Buy now for investment and future enjoyment - prices will never be this low again. Carolina & Kure Beaches - There are currently 395 single family homes for sale and this represents little change from February 1, 2011 and 8.4% of our total WRAR inventory. The average list price is $381,410 and decrease of about $8,596 from February. In February there were 18 homes sold, divide that by the homes available and you have a 21.9 monthly supply of homes in Carolina and Kure Beach. The average sold price for the month of February was $266,633 and is up $35,680 from last month. When we look at a rolling 12 months for Carolina & Kure Beach we are up by 66 units and our sold prices are down 7.2% from the previous rolling 12 months. Info provided by David Flory of Cunningham Mort in Wilmington For listings and more see www.welcometothebeach.com and www.wilmingtonbeachhomes.com