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
appreciation
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
