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NC & Coastal Market Slows
The North Carolina real estate market in 2024 reflects robust growth and varying trends across regions and price points, highlighting a thriving demand for both midrange and luxury properties The $600K-$1M range remains the cornerstone of activity, with high numbers of active listings and closed sales in key regions such as Wilmington, Carolina/Kure Beach, and Holden Beach/Oak Island These areas saw significant increases in transactions, such as Holden Beach/Oak Island’s closed sales jumping from 38 to 70. Similarly, Wilmington leads the market with the highest activity across all price points, particularly in the $600K-$1M segment, where closed sales rose from 135 in 2023 to 155 in 2024 The $1M-$2M range is steadily growing, with areas like Topsail Island and Wrightsville Beach/Landfall seeing increased closed sales, reflecting heightened demand for mid-luxury properties
Meanwhile, the $2M+ market is expanding but remains niche, showing notable growth in premium areas like Wilmington and Wrightsville Beach, where closed sales in this segment rose significantly, from 4 to 14 and 3 to 11, respectively In contrast, some regions such as Bald Head Island and Figure 8 Island saw limited activity in the ultra-luxury range Coastal markets like Atlantic Beach/Emerald Isle and Ocean Isle/Sunset Beach continued to show strong mid-range performance, while also maintaining steady luxury sales. Overall, the market highlights a strong foundation in mid-range properties with increasing interest in higher-end segments, driven by a combination of regional demand, economic factors, and the appeal of North Carolina's coastal and urban markets.
ATLANTIC BEACH & EMERALD ISLE
One of the most popular destinations for vacationers, Atlantic Beach, and Emerald Isle rest on North Carolina's northern barrier islands below the Outer Banks Emerald Isle is famous for its pristine, emerald-colored beaches and Atlantic Beach, north of Emerald Isle, is near popular Morehead City and across from the famous historic port town of Beaufort, NC.
The $600K-$1M market dominates activity, with 43 active listings in the fourth quarter and stable closed sales, reflecting steady demand with 10 pending sales The $1M-$2M market shows significant growth, with closed sales rising from 6 in 2023 to 19 in 2024 and 19 properties pending, indicating strong buyer interest In contrast, the $2M+ market remains niche, with closed sales dropping from 6 to 2, despite 10 active listings and minimal pending activity Overall, the $1M-$2M range is experiencing the most growth, while the $600K-$1M segment maintains consistent demand, and the ultraluxury $2M+ segment shows slower momentum
ATLANTIC BEACH & EMERALD ISLE
BALD HEAD & SOUTHPORT
The southeastern tip of North Carolina has historically been a popular vacation spot for decades The mix of historical significance as one of one of the earliest military settlements at the entrance of the Cape Fear and the coastal beauty has made this area highly desirable Bald Head’s unique atmosphere, exclusivity and ban on cars has also contributed to it becoming a popular destination
The real estate market in Bald Head Island and Southport for the fourth quarter shows steady activity across price ranges, with the $600K-$1M segment dominating with 53 active listings and stable closed sales, though pending sales remain low at 6 The $1M-$2M range is stable but saw a slight dip in closed sales from 25 in 2023 to 22 in 2024, reflecting a minor softening in demand The $2M+ market shows increased inventory with 19 active listings, though closed sales dropped slightly from 8 to 7 Overall, the market reflects high inventory but slower transaction turnover, suggesting cautious buyer behavior or extended property sale times
BALD HEAD ISLAND & SOUTHPORT
CAROLINA & KURE BEACH
With its proximity to Wilmington, the ferry to Southport, and the limited inventory and price appreciation of Wrightsville Beach, the Pleasure Island areas of Carolina and Kure Beach have become a highly sought after coastal destination Long known for its relaxed vibe and small-town beach atmosphere, this area’s real estate market has seen major jumps in property values as well as unit sell-through
The fourth quarter real estate market in Carolina and Kure Beach highlights strong activity in the $600K-$1M segment, with 81 active listings and steady closed sales (34 in 2023 vs 45 in 2024), though pending sales are lower at 10 The $1M-$2M range shows moderate activity, with 28 active listings and closed sales remaining consistent, while pending sales are limited at 3. The $2M+ segment is niche, with only two active listings and very minimal transactions Overall, the market remains most active in the mid-range, while higher price points show limited movement A notable observation is the year-over-year increase in sales across most price ranges in this region, with year-end inventory being absorbed into 2025
CAROLINA BEACH & KURE BEACH
FIGURE EIGHT, PORTER'S NECK, & HAMPSTEAD
Figure Eight Island, Porter's Neck, and Hampstead are north of Wilmington Porter's Neck and Hampstead are two emerging markets that are developing a robust luxury market, while Figure Eight Island remains one of the region’s flagship upscale communities with some of the most significant coastal estate homes in the Carolinas
The real estate market north of Wilmington shows strong activity in the $600K-$1M segment, with 43 active listings and an increase in closed sales from 25 in 2023 to 43 in 2024, along with 16 pending sales The $1M-$2M range is steady, with 15 active listings and a slight decrease in closed sales from 2023 to 2024, while pending sales remain low at 2 In the $2M+ range, there are 13 active listings, with only 2 pending sales and no closed sales in 2024, down from 3 in 2023 Overall, the market is robust in the mid-range, while higher price points show slower movement.
FIGURE 8 ISLAND, PORTER'S NECK & HAMPSTEAD
Q4 Homes Sold
HOLDEN BEACH & OAK ISLAND
Holden Beach & Oak Island comprise the South Brunswick Islands southwest of Wilmington Holden Beach was voted number one family-friendly beach several years in a row and remains one of the more restful and residential islands Oak Island became inhabited in the early 19th century after Fort Caswell was constructed in 1838 It grew slowly, but by the 1930s, it had become a popular beach and hunting destination
Holden Beach and Oak Island shows strong activity in the $600K-$1M range, with 82 active listings and a significant rise in closed sales from 38 in 2023 to 70 in 2024, though pending sales are lower at 10. The $1M-$2M segment reflects steady activity with 49 active listings and closed sales increasing from 21 in 2023 to 33 in 2024, alongside 11 pending transactions The $2M+ market remains niche, with 5 active listings but only 4 closed sales in both 2023 and 2024 Overall, the market is most active in the mid-range, with higher price points showing slower but consistent movement Inventory is seeing a year-over-year increase in this region, with year-end inventory build up being absorbed into 2025
HOLDEN BEACH & OAK ISLAND
OCEAN ISLE & SUNSET BEACH
Ocean Isle Beach and Sunset Beach are two popular islands in the furthest southwest corner of North Carolina Ocean Isle was named in 1949 by Virginia Williamson whose husband, Odell Williamson, purchased the land as a resort development project Sunset Beach not only encompasses both a mainland and an island, but it earned its name in 1955 by Manson C Gore who was impressed by the sunsets the southeast-facing island offered and its rare views of the sun setting over the Atlantic Ocean
The Ocean Isle and Sunset Beach real estate market in the fourth quarter of 2024 shows strong activity in the $600K-$1M range, with 61 active listings, 22 pending sales, and a 14% increase in closed sales from 36 in 2023 to 41 in 2024 The $1M-$2M range remains steady with 25 active listings but a 12 5% decline in closed sales, dropping from 24 to 21 The $2M+ segment is niche, with 11 active listings and 2 closed sales in both years, showing no change Overall, the market is driven by mid-range properties, while higher price points see consistent but limited activity
OCEAN ISLE & SUNSET BEACH
TOPSAIL ISLAND
Topsail Island is a barrier island almost an hour north of Wilmington Although folklore has it that the island was named Topsail because pirate ships hid behind the island with their topsails visible from the sea, the name came from New Topsail Inlet. Topsail Island has long been a vacation spot favorite and Surf City is one of the most popular cities on Topsail Island
Topsail Island, including North Topsail and Surf City, shows strong activity in the $600K-$1M segment, with 59 active listings and steady closed sales at 50 for both 2023 and 2024, though pending sales remain low at 6. The $1M-$2M range reflects moderate growth, with 50 active listings and an increase in closed sales from 18 in 2023 to 28 in 2024, along with 11 pending transactions The $2M+ market is niche, with 9 active listings but only 1 closed sale in 2024, consistent with 2023 Overall, midrange properties dominate activity, while high-end properties show slower movement However, Topsail is seeing a year-overyear increase in inventory and even achieved a year-end inventory build up that will be absorbed into 2025
TOPSAIL & SURF CITY
WRIGHTSVILLE BEACH & LANDFALL
Wrightsville Beach is the furthest eastern part of Wilmington and one of the most popular beaches on the East Coast. Just a few minutes inland sits the prestigious Landfall community This is a flagship gated golf course community in Wilmington, situated between Wrightsville Beach and the intracoastal waterway
The Wrightsville Beach and Landfall real estate market for the fourth quarter shows a shift toward higher price points. The $600K-$1M range saw a 100% decrease in closed sales, dropping from 14 in 2023 to none in 2024 The $1M-$2M range remained steady, with a 10 5% increase in closed sales, rising from 19 to 21, and 10 pending transactions The $2M+ range experienced the most growth, with closed sales increasing 266%, from 3 in 2023 to 11 in 2024 Overall, the market is driven by rising demand for luxury properties, while the lower price range saw declining activity
WRIGHTSVILLE BEACH & LANDFALL
WILMINGTON
Wilmington is a historic port city along the Cape Fear River that features three gorgeous islands. The historic artistic culture is complemented by the small beach town aesthetic offered by top-rated pristine beaches at Wrightsville Beach, historic Carolina Beach, and Kure Beach The art, music, food, architecture, history, and natural beauty of Wilmington make it the #1 place to move in the US
The Wilmington real estate market for the fourth quarter was particularly strong in the $600K-$1M range, with 112 active listings and an sizable increase in closed sales from 2023 to 2024, supported by 50 pending transactions The $1M-$2M segment is also active, with 74 active listings and closed sales slightly increasing in 2024, while pending sales are lower at 21
The $2M+ market remains niche, with 18 active listings and an increase in closed sales from 4 in 2023 to 14 in 2024 Overall, the market is driven by the mid-range, with notable growth in both mid-range and luxury segments
WILMINGTON
Homes Sold
COASTAL MARKET FORECAST
The coastal areas saw significant increases in unit sell through in many areas, as well as in the $2 million plus range With equity markets hovering at near historic highs, the upper end of the market continued to see solid activity and record prices achieved in some areas The more interestrate-sensitive, lower segment of the market has continued to see activity as buyers have somewhat adjusted to the new normal of rates in the 6 5-7 5% range. This end of the market has seen some impact on the viability of vacation rental economics
The barrier islands, while experiencing increases in annual sell through in most price ranges, also experienced inventory increases the second half of the year which should allow for more opportunities for buyers in those areas The increased inventory will also likely serve to help cap pricing somewhat, although overall demand for coastal property remains very solid
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The long history of high demand of the Wilmington and Wrightsville Beach area has led many people to turn to other markets for luxury inventory To read our most recent report on coastal North Carolina's emerging markets, please visit the link below.
