The Do Good Report - Wrightsville Beach 1st Quarter 2013

Photo courtesy of T.J. DRESCHEL PHOTOGRAPHY

The Do Good ReportWrightsville Beach1st Quarter 2013 &

Years ended 2010 - 2012

April 15, 2013

We are pleased to present this latest update on the Wrightsville Beach real estate market, reporting

activity through the end of the 1st quarter 2013. By standard definition, we are officially in a “Seller’s

Market” due to the lack of available homes for sale and increasing demand driven by access to cheap

money and an improving economy.

For 2013, we are optimistic that stability has returned to the market and our coastal town will

continue to attract buyers from within the Carolinas and around the world.

Want more information on the latest trends or for help with any of your real estate needs? You can

contact us at 910.616.1688 or via email at [email protected].

Best regards,

Do Good Real Estate

Executive Summary

Page 1

DO GOOD REAL ESTATE is a homegrown, socially minded realty company that delivers a "feel good" experience that no else offers. Our agents are experts in the field of real estate. We’re available to answer any questions you may have so don’t hesitate to contact us.

About Us

QUALITY, TRANSPARENCY & GIVING BACK – COME STANDARD

It is our goal to provide expert, thoughtful and honest advice throughout one of the most important transactions you will ever make. That is our commitment. We do this by combining top agents, cutting-edge technology and a new way of doing business to serve you.

We are a Certified Benefit Corporation and are accredited by the Better Business Bureau, which means we hold ourselves to a higher standard of accountability and transparency.

We love Wilmington! It’s our home too. That’s why we pledge 10% of our sales commissions to support local charities of your choosing, to improve lives and to impact social change. We “Do Good” for you. You “Do Good” for others.

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We love Wilmington! It's our home too. That's why we pledge 10% of our sales

commissions to support local charities, of your choosing, to improve lives and to impact

social change. We "Do Good" for you so that you can "Do Good" for others.

The DO GOOD Donation ProgramDo Good. Feel Good.

SELECT A CAUSELIST WITH US MAKE AN IMPACT

We start with a successful pricing strategy. Then we maximize marketing channels to tell your home's UNIQUE STORYUNIQUE STORYUNIQUE STORYUNIQUE STORY, embracing technology to attract a pool of qualified buyers.

After your transaction closes, you will choose a local organization that you would like to support. if you don't already have one in mind we will help guide you to some of the great organizations our clients have selected in the past.

Once you choose the recipient charity we will make the donation. If you wish we’ll coordinate a visit to the charity so you can make the donation with us in person. We’ll even spread the word that a donation has been made with your name on it.

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Organizations We Support

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Key Facts

• Nationally, the number of homes for sale have dropped by 20% from the prior year. The trend in the Wrightsville

Beach real estate market is no exception with inventories dropping by 17% from the end of 1st quarter 2012. There

were 109 listings available at the end of March 2013, which is the lowest level in 7 years.

• Price indicators are significantly higher. The most notable increase is the average sales price per sq. ft. increasing

by 34% from 356 sq. ft. in 4th quarter 2012 to 477 sq. ft. in 1st quarter 2013. The average sales price and median

sales price also increased by 14% and 25%, respectively, from the prior quarter with the average sales price at

$863,659 and the median sales price at $795,000.

• Mortgage rates inched up slightly. The national average for a 30 year fixed rate mortgage increased by 22 basis

points from the 50 year-low of 3.36% at 4th quarter 2012 to 3.50% at 1st quarter 2013.

• On a Macro level, the surge in the stock market indicates a strong rebound in the economy. The Dow Jones

Industrial Average was up 8.7% in 1st quarter 2013 and passed the all-time high set in October 2007 (pre-recession).

The unemployment rate in North Carolina also decreased by 7.8%, from 10.2% at 1st quarter 2012 to 9.4% at 1st

quarter 2013.

- 2 -Page 5

Source: MLS of the Wilmington Regional Association of REALTORS

Q1'13 % Q4'12 % Q3'12 % Q2'12 % Q1'12

Total Sales 17 -55% 38 12% 34 55% 22 38% 16

Pending Sales 5 -17% 6 -33% 9 -36% 14 1300% 1

Median Sale Price $795,000 25% $633,500 15% $552,750 -8% $600,000 -33% $900,000

Average Sale Price $863,659 14% $754,844 4% $726,550 5% $695,045 -38% $1,128,250

Average Price per Sq. Ft (Sold) 477 34% 356 -4% 371 -5% 390 -16% 466

Homes For Sale 109 8% 101 -23% 131 -17% 157 19% 132

% Of Sale Price To List Price 83% -5% 87% 9% 80% -3% 83% 1% 82%

Average List Price $1,019,175 16% $880,755 -14% $1,030,100 14% $900,436 -39% $1,474,144

Average Days On Market 343 29% 266 -27% 362 -4% 378 17% 323

Overall Sold Volume $14,682,200 -49% $28,684,072 13% $25,429,250 66% $15,291,000 -15% $18,052,000

Average 30-year mortgage 3.50% 4% 3.36% -5% 3.55% -6% 3.79% -3% 3.92%


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Q1'13 % Q4'12 % Q3'12 % Q2'12 % Q1'12

Total Sales 8 -58% 19 36% 14 100% 7 -13% 8

Pending Sales 4 0% 4 -33% 6 -25% 8 - -

Median Sale Price $1,128,500 55% $729,000 -34% $1,100,000 47% $750,000 -47% $1,410,000

Average Sale Price $1,175,250 19% $983,791 -12% $1,116,633 -6% $1,186,000 -26% $1,592,125

Average Price per Sq. Ft (Sold) 496 42% 349 -9% 383 10% 347 -28% 480

Homes For Sale 42 -2% 43 -30% 61 -13% 70 21% 58

% Of Sale Price To List Price 77% -12% 88% 12% 78% -3% 81% 3% 79%

Average List Price $1,466,857 29% $1,139,710 -30% $1,630,600 -1% $1,649,000 -24% $2,167,375

Average Days On Market 361 78% 203 -3% 210 -34% 318 10% 290

Top Sold Price $2,100,000 19% $1,765,000 -14% $2,050,000 -20% $2,550,000 -19% $3,150,000

Overall Sold Volume $9,402,000 -50% $18,692,022 12% $16,749,500 102% $8,302,000 -35% $12,737,000



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Q1'13 % Q4'12 % Q3'12 % Q2'12 % Q1'12

Total Sales 9 -53% 19 -5% 20 33% 15 88% 8

Pending Sales 1 -50% 2 -33% 3 -50% 6 500% 1

Median Sale Price $590,000 18% $500,000 20% $418,250 -20% $525,000 -28% $732,500

Average Sale Price $586,689 12% $525,897 21% $433,988 -7% $465,933 -30% $664,375

Average Price per Sq. Ft (Sold) 461 27% 362 0% 362 -12% 411 -9% 453

Homes For Sale 67 16% 58 -17% 70 -20% 87 18% 74

% Of Sale Price To List Price 88% 1% 87% 7% 82% -3% 84% -2% 86%

Average List Price $670,978 8% $621,800 7% $579,725 5% $551,107 -29% $780,913

Average Days On Market 330 0% 329 -31% 477 17% 406 14% 357

Top Sold Price $976,200 -16% $1,158,000 47% $790,000 -7% $850,000 -8% $925,000

Overall Sold Volume $5,280,200 -47% $9,992,050 15% $8,679,750 24% $6,989,000 31% $5,315,000



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2012 % 2011 % 2010

Total Sales 111 48.0% 75 50.0% 50

Median Sale Price $ 648,000 4.5% 620,000 -23.0% 805,000

Average Sale Price $ 787,895 2.3% 770,013 -16.6% 923,300

Average List Price $ 1,017,280 3.7% 980,601 -46.5% 1,832,322

% Of Sale Price To List Price 83.5% 3.4% 80.8% 9.2% 73.9%

Average Days On Market 327 -4.8% 343 -10.0% 381

Top Sold Price $ 1,158,000 32.3% 875,000 -39.6% 1,448,000

For Sale 101 -22.9% 131 -15.5% 155

Months Of Inventory 11.2 -43.3% 19.8 -46.7% 37.2

Total Volume $ 87,456,322 51.4% 57,750,976 25.1% 46,165,000

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24 33

49

26

42

62

-

20

40

60

80

100

120

2010 2011 2012

Single Family Condos

Total Sales Volume ($ in thousands) Sales

Sales by Price Point

7

1

20

3

31

6

18

11

22

13

30

19

1

6

9

1

10

4

4

10

2

4

4

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Condos

Single Family

Condos

Single Family

Condos

Single Family

20

10

20

11

20

12

> $500K $500K - $1M $1M - 1.5M $1.5M - $2M > $2M

$29,510 $37,526

$56,481

$16,656

$20,225

$30,976

$-

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

$80,000

$90,000

$100,000

2010 2011 2012


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Listing Inventory

7662

43

79

69

58

0

20

40

60

80

100

120

140

160

180

2010 2011 2012


$1,230 $1,137 $1,153

$641

$482 $500

$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

2010 2011 2012


Average Sales Price ($’s in thousands)

65.3%

78.7%82.6%81.9% 82.4% 84.3%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

2010 2011 2012


List to Sell %

437

275

236

330

397 399

-

50

100

150

200

250

300

350

400

450

500

2010 2011 2012


Days on Market

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2012 % 2011 % 2010

Total Sales 49 48.5% 33 37.5% 24

Median Sale Price $ 884,000 -12.5% 1,010,000 5.2% 960,000

Average Sale Price $ 1,152,664 1.4% 1,137,141 -7.5% 1,229,563

Average List Price $ 1,530,520 5.7% 1,447,464 -50.4% 2,919,779


Average Days On Market 236 -14.3% 275 -37.1% 437

Top Sold Price $ 3,150,000 8.8% 2,895,000 7.2% 2,700,000

Months Of Inventory 16 -36.6% 25 -45.5% 45

Total Volume $ 56,480,522 50.5% 37,525,651 27.2% 29,509,500

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2012 % 2011 % 2010

Total Sales 62 47.6% 42 61.5% 26

Median Sale Price $ 480,000 -7.7% 520,000 -20.0% 650,000

Average Sale Price $ 499,610 3.7% 481,555 -24.8% 640,596

Average List Price $ 611,655 -0.3% 613,781 -25.9% 828,515


Average Days On Market 399 0.5% 397 20.3% 330

Top Sold Price $ 1,158,000 32.3% 875,000 -39.6% 1,448,000

Months Of Inventory 15 -34.6% 23 -49.7% 47

Total Volume $ 30,975,800 53.2% 20,225,325 21.4% 16,655,500

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SINGLE FAMILY

List/Sell $ Address Community List % DOMPrice Per

Sq FtSq Ft Lot Sz

Year

Built$2,100,000 305 S Lumina Ave Not In Subdivision 76.4% 147 626 3,356 0.38 1957

$1,500,000 719 S Lumina Ave #1 & 2 Ocean Reef Townhomes 60.0% 539 384 5,100 0.28 1993

$1,330,000 4 Sunset Ave Not In Subdivision 53.2% 1,040 415 3,115 0.12 2005

$1,300,000 6 Sand Dollar Ln Shell Island 100.0% 25 775 2,157 0.24 1956

$957,000 24 Pelican Dr Channel Acres 100.7% 8 665 2,748 0.18 1984

$950,000 112 N Channel Dr Shore Acres 65.5% 274 447 2,405 0.10 1955

$715,000 110 Live Oak Dr Harbor Island 82.3% 143 349 3,964 0.11 2005

$550,000 12 Bahama Dr #A & B Bahama Breezes 78.7% 495 305 3,628 0.12 1998

CONDOS

List/Sell $ Address Community List % DOMPrice Per

Sq FtSq Ft Lot Sz

Year

Built$976,200 10 E Atlanta St #B Not In Subdivision 91.4% 311 522 622 1986

$960,000 17 E Columbia St #A Not In Subdivision 96.1% 36 658 2,187 0.10 1953

$795,000 2400 N Lumina Ave #2205 Duneridge Resort 92.5% 252 589 540 0.00 1999

$735,000 102 Seaside Ln Channel Walk 67.1% 963 409 2,625 0.15 1988

$590,000 12 E Atlanta St #A Sunrise Villas Condo 100.0% 148 381 1,355 1973

$475,000 95 S Lumina Ave #1-E Station One 80.6% 621 504 1,654 0.11 1938

$350,000 322 Causeway Dr #209 Seapath Towers 90.0% 310 333 1,400 0.01 1990

$234,000 2700 N Lumina Ave #714 Shell Island Resort 93.6% 68 425 1,139 0.10 1950

$165,000 701 Causeway Dr #103 Harbor Inn Condo 82.9% 257 330 2,381 0.13 1998


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1904 Eastwood Road, Suite 310

W i l m i n g t o n , N C 2 8 4 0 3

9 1 0 . 6 1 6 . 1 6 8 8

[email protected]

DoGoodRealEstate.com

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