Latest on the Crazy Carolina Beach Condo Market

By
Real Estate Agent with (owner) JustNewListings.com Realty, 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

 

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

 

 

close

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Topic:
Real Estate Market Trends
Location:
North Carolina New Hanover County Carolina Beach Atlantic Towers
Tags:
carolina beach real estate
carolina beach condos
atlantic towers

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Rainmaker
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Jay Seville

Northern Virginia & SE NC Beaches
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