Latest on the Crazy Carolina Beach Condo Market

Real Estate Agent with Ocean Views Real Estate, Inc.


Carolina Beach Condo Market Trends

Hey good morning everybody it's Jay with


wilmington real estate comma stay calm


what is the latest and the greatest with


the Carolina Beach oceanfront condos for


sale market well it's been pretty


intense and that's sort of what I've



been predicting the last few years and


telling people by now by now by now


because every year you're gonna lose


double-digit income in terms of




besides the rental revenue and I have a


couple examples as a length that are


sort of putting 2019 into perspective


for Carolina Beach condos . Few year ago Atlantic Towers units were closing $160,000 and now they are selling for $190,000. by the way


this this focus on the Carolina Beach


real estate does to a certain level


cover the whole region and is


representative it just happens that our


market in Carolina Beach is especially


investor friendly because we have high


rents combined with low HOA fees usually


which eke out that extra couple percent


of profit for investors so it's a


special Beach it's very busy some people


won't act Riviera and be a negative


about it but for an investor there's


nothing to be negative about it's a


winner if to have in your portfolio


alright so recently a one-bedroom second


row property here just one thousand at


sands one we'll just look at a couple


photos of it standard balcony a nice


direct ocean view sands does have a pool


and it is it shows well because it has


wood floors and an updated kitchen so


it's not even that updated look at these


counters might be original they put in a


backsplash cabinets are newer older


appliances so it's not Pottery Barn


whatsoever but it's painting nicely


crisp and clean that close for 201 why


that's interesting is


cuz those just a couple years ago would


have closed for 160 on the second row


and then another example here this just


closed and it's the highest closing for


a to two that I'm aware of in a long


time this is that son skipper son


skippers a nice condominium because it


has pools I think it has two pools so


this is a two-bedroom two-bath


oceanfront and it just closed recently


for three hundred seventy-five thousand


now most of these as of late have been


closing in the low three hundredths and


this is just this one is just way up


there why why this extreme surge


well the price has been going up for a


while one challenge is we have this


horrible lack and minute of an inventory


right now I called a real estate


situation and it's pretty extreme we're


looking at forty percent less inventory


across the board and it's even more



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