Sales of million-dollar homes up in NHC - WECT TV6-WECT.com:News, weather & sports Wilmington, NC

Sales of million-dollar homes up in NHC

Posted: Updated:
This home on Churchill Dr. just sold for over a million. This home on Churchill Dr. just sold for over a million.

NEW HANOVER COUNTY, NC (WECT) - Have a million dollar home? This could be the right time to sell it.

Realtors in New Hanover County are on pace to sell more million dollar listings this year than last year.

In just the first part of this year, 66 homes priced at $900,000 and above sold in the county. Compare that to last year, when for the entire year, 22 homes priced above $900,000 found buyers.

Right now, 22 homes are under contract or pending sale.

Even if your home isn't worth a million bucks, Jessica Edwards with Coldwell Banker Seacoast Advantage said this is good news for you.

"It's definitely a good sign when you see real estate moving at any end of the market.," she said. "It all affects each other somehow so a lot of times we'll see an increase in the luxury or high-end homes when there's an increase at lower numbers because maybe somebody had to sell their $400,000 house before they could buy a million dollar house."

She said the market is improving due to low interest rates.

Edwards said it's a good time for sellers.

"Because there's so much less inventory, you have less competition," she explained. "Therefore, your house is going to stand out more and you have a much better shot at selling and selling at a good price."

Edwards said buyers are getting more bang for their buck.

"As far as buying goes, you have less things to choose from; however, prices haven't started to climb up so you still are getting to take advantage of those low prices and pair that with the low interest rates. That directly affects your payment every month and that means you can purchase more house." 

Copyright 2013 WECT. All rights reserved.

Powered by WorldNow