Absorption Reports – 2nd Quarter 2017

Absorption rate, also referred to as “inventory levels” or “months of supply”, gives you an idea of the number of months it will take for the current inventory to be sold out based on the last 12 months of sales.

Housing prices stabilize when supply and demand come closer together. Generally speaking, 5-6 months of supply is “normal”. Less than 5 months of supply will result in APPRECIATING home prices, while 7 months or more of supply will result in DEPRECIATING home prices.  New Hanover County is showing a total of 3.32 months of inventory for existing home sales (for comparative purposes, it peaked at 22.6 months in 2009); Brunswick County is at 5.86 months (peaked at 20.0 months in 2009); and Pender County is at 4.61 months (peaked at 22.1 months in 2009).  As you can see from the three county charts below, inventory levels vary by price segment.  Take a look at the absorption reports for a better idea of where your house stands in the market:

New Hanover County

Brunswick County

Pender County

Summer Squash Casserole

Recipe Courtesy of www.pauladeen.com 

At its peak, fresh summer squash is coming out of our local gardens and displayed in abundance at the farmers market and on grocery shelves. Try this month’s healthy side dish wonderfully crafted with a Ritz cracker crust. You will find it to be the perfect complement to any meal or offering at your next family gathering.


  • 1 tablespoon vegetable oil
  • 6 medium yellow squash, thinly sliced
  • 1 large Vidalia onion, thinly sliced
  • 1 tablespoon butter
  • 1/2 cup Parmesan cheese, grated
  • 1 cup sharp cheddar cheese, shredded
  • 1/2 cup sour cream
  • 1 sleeve buttery crackers, crushed medium to fine


Preheat the oven to 350°. Grease a 2-quart casserole dish.

Heat the oil in a large skillet over medium heat. Sauté the squash, onion, and butter until soft. Transfer to a bowl and stir in the Parmesan, cheddar and sour cream. Add salt and pepper, to taste.

Place in the prepared casserole dish and sprinkle the cracker crumbs evenly over the top. Bake for 20 minutes or until the top is golden and bubbly.

August 2017 Events

August 2017 Events

Wilmington Sharks Baseball Home Games – 2149 Carolina Beach Rd, Wilmington

  • 8/2: Jaws-N-Paws – Fayetteville Swampdogs vs. Wilmington Sharks
  • 8/5: Hat Giveaway! – Morehead City Marlins vs. Wilmington Sharks
  • 8/7: Holly Springs Salamanders vs. Wilmington Sharks

8/2-20: South Pacific – Thalian Hall

8/2: 2nd Marine Aircraft Wing Band Concert – Franklin Square Park, Southport

8/3, 10,17, 24: Fireworks by the Sea & Boardwalk Blast: – Cape Fear Blvd & Carolina Beach Ave N

8/3, 11, 18, 25, 31: Oak Island Summer Concert Series – Middleton Park Soccer Field

8/3, 10: WECT Sounds of Summer Concerts in the Park –  Wrightsville Beach Park

8/4, 11, 18, 25: Performing Arts Night – Carolina Beach Boardwalk Gazebo

8/4, 18: Airlie Gardens Summer Concert Series – Airlie Gardens

8/4, 11, 18, 25: Downtown Sundown Concert Series – Riverfront Park

8/4, 11, 18, 25: Ocean Isle Summer Concert Series – across from the Museum of Coastal Carolina

8/4-6: National Lighthouse Weekend Celebration: Old Baldy’s 200th Birthday – Old Baldy Lighthouse, Bald Head Island

8/6, 13, 20, 27: Free Movie Night – Carolina Beach Lake Park

8/6, 13, 20, 27: Historic Downtown Wilmington Marketplace – Riverfront Park

8/6, 20: Kure Beach: Boogie in the Park Concert Series – Kure Beach Ocean Front Park

8/7, 14, 21, 28: Ocean Isle Beach Turtle Talks – The Museum of Coastal Carolina

8/9: Chris Robinson Brotherhood – Greenfield Lake Amphitheater

8/10: Jazz at the Mansion Concert Series – Bellamy Mansion

8/10, 24: Southport Summer Concert Series – Franklin Square & Garrison Lawn

8/12-13: Wahine Classic – Wrightsville Beach

8/17: Donald Fagen and The Nightflyers – CFCC Wilson Center

8/18-20: O’Neill / Sweetwater Pro-Am Surf Fest – Birmingham Street Wrightsville Beach

8/18: Tony Bennett – CFCC Wilson Center

8/19: Leland Under the Lights Car Show – Brunswick Forest, Leland

8/24: Brian Regan – Greenfield Lake Amphitheater

8/24, 25, 26, 27, 31: The Sunshine Boys – Thalian Hall: Ruth and Bucky Stein Theatre

8/25: Fourth Friday Gallery Nights – Downtown Wilmington

8/25: Donavon Frankenreiter – Greenfield Lake Amphitheater

8/27: Lumina Daze – Blockade Runner Resort

8/31: The Righteous Brothers: Bill Medley & Bucky Heard – CFCC Wilson Center

Caribbean Style Home on Figure Eight, South African Luxury Wildlife Ranch and a Classic Neo-Georgian Estate in Harding Township NJ

As our partnership with Luxury Portfolio allows, Intracoastal Realty’s listings are often featured on LuxuryPortfolio.com. We often spotlight outstanding listings around the world and become enamored with the many features, outdoor spaces, and interior design and decor of these lavish properties. This month the properties listed showcase spectacular surroundings in exceptional locations! We hope you enjoy learning more about these three extraordinary homes.

Caribbean Island style home on large 0.78 acre oceanfront lot secluded on the north end of Figure eight Island. Cedar shake exterior with metal standing seam roof for low maintenance. Enter this unique home with African teak ceilings, poplar walls, and many custom features. Great room has 12 foot barrel ceiling across the room and many built-ins. Custom kitchen has old world feel with beautiful teak cabinets and travertine countertops. Wolf gas range oven, Subzero refrigerator, wine fridge, Miele dishwasher and Shaw original sink all included with the kitchen. Vestibules going into master suite and office have teak cross barrel ceilings.

400 sqft area of the guest suite below the main house is included in total square footage. Breezeway connects to a two-car garage.

LOT ACRES: 0.7800

BUILT IN: 1985

See it!


Own your own African Game ranch. An opportunity for one discerning buyer to acquire a bespoke private residence, consisting of two luxury tented safari units on the banks of a river, including rights to extensive property and significant part ownership of a safari lodge and other amenties.

This amazing property is located in the malaria free Eastern Cape Province of South Africa is part of a 25,000 Acre (10 000 Hectare) private Game Reserve.  The Private Game Reserve operates an Eco Tourism offering and a Photographic and conservation Safari destination. The Reserve embraces two major rivers, which are navigable from the property into the Indian Ocean. This exceptionally picturesque landscape provides a dramatic backdrop to ‘Big Five’ game viewing.

This is the ideal home of all nature loving people with a taste for luxury and unique residences.

PROPERTY FEATURES INCLUDE: Ranch, 13 Fireplace(s), Gated Entry, Yes, Yes, Yes, Yes, Separate Guest Quarters

VIEWS INCLUDE: Hills, Water, Sunset, Sunrise, Park

BUILT IN: 2015


LOT ACRES: 8,000

See it!


Hidden Pond Farm, located in bucolic Harding Township, is a classic neo-Georgian estate set amidst unspoiled countryside, winding roads and rolling hills. Approached via a sweeping driveway, the residence is a grand and regal presence on 43.61 farm-assessed acres. Originally built in 1927 as a summer retreat for a prominent attorney and private counsel to John D. Rockefeller Jr., this home was meticulously and painstakingly renovated by its current owners. Today, this extraordinary estate home offers every amenity for the modern family with graciously proportioned rooms- many opening onto intimate outdoor spaces. Staying true to its beginnings as a working farm, there are several dependencies on the property including a free-standing four-bedroom house and two-stall barn with adjacent three-bedroom apartment, four-car garage and heated kennel. Highlights of the magical grounds include a magnificent peony walkway, pumpkin patch, handsome bluestone terraces and enchanting perennial gardens with stone walls. An inground pool and brick patio framed by manicured lawns is the quintessential outdoor entertaining space.

The main residence features 24 rooms with eight bedrooms, six full baths, three powder rooms and ten fireplaces complete with antique mantles spanning three floors; there is also a finished lower level. An attached three-car garage is heated. Eleven foot ceilings throughout the formal rooms on the main floor, marble and limestone flooring as well as 18” walls detailed with intricate plaster moldings all add to the home’s history and timeless elegance.

A marble entry vestibule and inviting foyer welcomes you into the residence. Many of the main floor rooms including the formal living room, dining room and library flow gracefully from the entry foyer. Of special note is the custom hand-painted Chinese Gracie wallpaper in the dining room; an antique chandelier hangs overhead. The formal rooms as well as the more casual garden room and breakfast room all open onto a wrap-around bluestone terrace through French doors. Artfully designed transitional spaces surprise at every turn- a small circular foyer leads into the walnut paneled library- a round marble foyer contains the main staircase that leads upstairs.

The gourmet kitchen is a delight and features cabinetry by the premium cabinet maker Smallbone of Devizes. Floors are detailed with reclaimed floor tiles from France; Carrera marble countertops, classic subway tile backsplash and top-of-the-line appliances are other highlights. An adjoining dining area opens out to a lovely bluestone terrace through French doors while a well-appointed butler’s pantry with subzero refrigerator and two warming drawers adjoins the gourmet kitchen on the other side. A family room, mud room, flower room currently used as an office with a private entrance and two powder rooms complete the main floor.

A tranquil master bedroom suite is located on the second floor and features two fireplaces, octagonal sitting room, private balcony and spa-like en-suite bathroom. There are also four additional bedrooms with en-suite bathrooms and a sewing room. Completing the second floor is an additional three bedroom, two bath wing and a wrapping room with built-in cabinetry. The third floor features an expansive exercise room, spacious walk-in cedar closet and ample storage areas. Focal points of the finished lower level with handsome coffered ceiling include a generously-sized recreation room with fireplace and a 3,000 bottle temperature-controlled wine cellar.

Centrally located 30 miles from Manhattan, Harding Township in Morris County is celebrated for its rural landscapes, elegant estate properties and sophisticated country lifestyle. Residents enjoy easy access to Midtown Direct trains to Penn Station, New York and all commuting highways. Newark Liberty International Airport is conveniently located 20 miles away.

BUILT IN: 1927

LOT ACRES: 43.61

See it!

Our History Here: Landfall

Unless you’ve lived in the area for a very long time, you probably don’t remember the days before Landfall. Once upon a time, the 2,200 acres that make up Wilmington’s first gated community were one large tract of woods bordered by what is known today as Eastwood Road, Military Cutoff Road, the Intracoastal Waterway, and Howe Creek.

Formerly known as Pembroke Jones Park, or Pembroke Park, Landfall’s earliest known owner was Pembroke Jones (1858-1919), a millionaire rice broker and railroad investor known for such a lavish lifestyle that he and his wife Sarah were thought by many to be the inspiration for the phrase “keeping up with the Joneses.” Used originally as a hunting preserve, the property was home to a large mansion, or lodge, constructed in 1909 and the site of legendary gatherings with friends and other prominent members of local society.

After Jones’ death 10 years later, the lodge sat abandoned for more than three decades before being destroyed by fire in 1955. A stone gazebo at the center of a restored garden is among the few remaining traces of the famous complex. Jones’ son-in-law, architect John Russell Pope, designed this enduring tribute to the property’s past and later created the Jefferson Memorial in Washington, D.C.

Jane Pope, architect Pope’s daughter and Jones’ granddaughter, eventually inherited the Pembroke Park property. Her husband Anthony B. Akers – a New York lawyer, real estate developer, and former U.S. ambassador to New Zealand – founded Landfall Development Co. during the 1970s and first proposed the idea of transforming the rural property into a residential community. The name paid tribute to the belief that Italian explorer Giovanni da Verrazano had landed on or near the site during his 1524 voyage up the Atlantic Seaboard for King Francis I of France. The vessel that you see in the Landfall logo represents Verrazano’s ship off the coast.

Akers’ sudden death in 1976 put the Landfall project on hold, but plans were revived a few years later by Landfall Associates, a partnership of the Weyerhaeuser Co., Chapel Hill developer J.P. Goforth (who would go on to build Landfall Shopping Center), and Frank Hawkins Kenan (1912-1996), a Durham businessman and philanthropist with strong family ties to the Wilmington area. New Hanover County officials approved the project in 1984, with construction well under way in 1986. The first clubhouse opened in May 1989, followed by two complete golf courses, a sports center, and a non-denominational chapel. By 1992, lots on Landfall were selling for $60,000, with home prices ranging from $225,000 to $1.2 million.

Many considered this premier residential neighborhood to be a game changer for the local real estate industry as well as the makeup of Wilmington’s population.

“When Landfall was starting in the mid-1980s, some of my agents worried that it would hurt values of other homes, like on Wrightsville Beach,” Jim Wallace, president of Intracoastal Realty, said in a 2012 Greater Wilmington Business Journal article. “But the exact opposite happened. It was a terrific plan, and it has developed a terrific brand in an unusual setting, with a buffer of Wrightsville Beach on one side and Figure Eight Island on the other. It actually raised property values outside Landfall and brought new people here from all over.

“At first, you know, as a gated community, a lot of local folks took a wait-and-see attitude because it was a new upscale community with people from the Northeast,” he added. “But that’s changed, and it’s the high-end portion of our county, at the top of three key areas: downtown, then the (New Hanover Regional) hospital area, and then the Landfall corridor.”

These days, Landfall encompasses more than 2,000 houses and lots with home prices starting at $369,900 and going up to $4.9 million, according to a recent real estate listing search. There are 29 miles of private roads winding around mature trees and immaculate landscaping, complementing an eclectic array of award-winning architecture. Some of the homes afford stunning views of both Wrightsville Beach and the natural marshes that comprise 320 acres of conservation land.

The community is active in philanthropy through the nonprofit Landfall Foundation, which was established in September 1995 when Kenan made an initial investment of $50,000. After residents raised another $50,000, his family matched that with another $50,000 donation. Since then, Landfall Foundation has awarded nearly $3.9 million to hundreds of local charities.

Now that you know Landfall’s past, let Intracoastal Realty help you make this exclusive area part of your future. We are a full-service real estate brokerage operating since 1976, and we currently have 13 offices with over 400 agents and staff to serve Southeastern North Carolina, including the areas of Wilmington, Wrightsville Beach, Carolina Beach, Kure Beach, Southport, Oak Island, Ocean Isle Beach, Leland, Hampstead, and Topsail Island.

Our History Here: Wrightsville Beach

By Judy Royal

Soon after crossing the drawbridge from the mainland, you’ll reach a fork in the road and face your first decision at Wrightsville Beach. Bearing left will take you to the famous Johnnie Mercer’s Fishing Pier and near the site where a giant sperm whale named Trouble once washed ashore and refused to leave. Bearing right will take you to the classic downtown and points south, including the Coast Guard station and the site of the late, great Lumina Pavilion. 

Either way, you can’t go wrong. 

Either way, you’ll find a vibrant mixture of old and new.

Either way, amid landscape-altering attacks by both nature and developers, you’ll find the constancy of waves against sand.

So begins the synopsis of Wrightsville Beach: The Luminous Island by Ray McAllister, a 2007 book that explores the history and heart of this wildly popular vacation destination near Wilmington. With a year-round population of 2,604 that expands to 45,000-50,000 in the summer months, people have been flocking to Wrightsville Beach for fun in the sun for years through various periods of development.

The seaside town occupies one of the numerous barrier islands along North Carolina’s coast, which is 1,000-5,000 feet in width and stretches almost 4 miles from Masonboro Inlet to the south to Mason’s Inlet to the north (it lies between Figure Eight Island and Masonboro Island). This island containing Wrightsville Beach was once owned by the State of North Carolina and known as New Hanover Banks. It was transferred into private hands in three separate grants between 1791 and 1881. Development would have to wait, however, because distance and lack of transportation other than boats impeded accessibility. From the late 1700s until near the end of the 1800s, there were no residents and very few visitors except for some fishermen and hunters. Sailing soon became popular, and frequent races led to the founding of the Carolina Yacht Club in April 1853. Its members built a clubhouse, the first structure on what was now being called Wrightsville Beach after the Wright family who owned land on the nearby mainland. The Carolina Yacht Club held dozens of races every year and is now recognized as the third oldest yacht club in the country.

More development followed: another yacht club, two hotels, and several beach cottages. Wrightsville Beach was incorporated on March 6, 1899, with about 40-50 mostly seasonal residents. Just prior to that, accessibility to the beach began to improve when Shell Road, a passage for horse-drawn carts topped by oyster shells and following the route of current Wrightsville Avenue, was completed. Just a few months later, Wilmington Seacoast Railroad Co. built rail transportation, known as the open-air Beach Car, from downtown Wilmington to the Hammocks (present-day Harbor Island, a sizeable land mass formed as a result of dredging spoils from the Intracoastal Waterway in the early 20th century) with a footbridge to the beach. During the same year as incorporation, the rail line was extended across the Hammocks and onto the barrier island and then southward along what is now South Lumina Avenue. The Beach Car served as the lifeline to Wrightsville Beach, transporting thousands of visitors every summer until the trolley era began to give way to the automobile in 1935, when a two-lane bridge was built across the Intracoastal Waterway to Harbor Island and then over Banks Channel to the beach.

At the end of the Beach Car line was the sprawling and magnificent Lumina Pavilion, built in 1905 and offering 12,500 square foot of games and activities – including a dance hall, bowling alley, snack shop, shooting gallery, and movie screen in the surf – on three levels. Virtually every Big Band era band played there until the last, Vaughn Monroe, took the stage in early 1952. By then, times were changing and the Lumina’s popularity was waning. Crowds diminished as the trolley line came to an end in 1940, and the building deteriorated to the point of being condemned in 1972. It was demolished in 1973.

While the Lumina is no longer physically present, those who yearn for a simpler time when Big Bands played and people danced the night away can relive that era during Lumina Daze. The 21st annual event, chock full of nostalgia and reminiscing, will be 5-9 p.m. Aug. 27 at Blockade Runner Beach Resort, 275 Waynick Blvd. in Wrightsville Beach. Lumina Daze features live music, dancing, an inflatable movie screen showing a film on the lawn, a cash bar, food, a silent auction, and history displays. Tickets are $20 in advance at the Wrightsville Beach Museum of History, 303 W. Salisbury St. in Wrightsville Beach, or Blockade Runner, and they will also be available at the door. For more information, visit http://www.wbmuseumofhistory.com/events/lumina-daze, email wbmuseum@bizec.rr.com, or call 910-256- 2569.

Over the years, Wrightsville Beach’s year-round population grew as the area weathered and survived hurricanes, including Category 4 Hazel in October 1954, and a 1934 fire that destroyed hundreds of buildings on the north end of the island. Although the Beach Cars and Big Bands are gone, visitors still jam the streets as they make their way to the salt and sand at one of the nation’s most popular beaches.

For more about Wrightsville Beach’s history, including a timeline of events, visit the Wrightsville Beach Museum of History website or, better yet, make plans to stop by to browse the exhibits, discover how life was lived in a typical summer cottage, and check out the museum’s centerpiece, a 12-foot model of Wrightsville Beach as it looked circa 1910.

Now that you know Wrightsville Beach’s past, let Intracoastal Realty help you make the storied area part of your future. We are a full-service real estate brokerage operating since 1976, and we currently have 13 offices with over 400 agents and staff to serve Southeastern North Carolina, including the areas of Wilmington, Wrightsville Beach, Carolina Beach, Kure Beach, Southport, Oak Island, Ocean Isle Beach, Leland, Hampstead, and Topsail Island.