August 3, 2013

Arbor Creek – Southport NC - Community Trends

Arbor Creek Clubhouse_646 Arbor Creek is a well-established jewel of a neighborhood located just North of Southport off Highway 211 in a quiet, tranquil setting near St. James Plantation. From traditional bungalows to coastal contemporary and cottage construction, Arbor Creek has much to offer those looking near Southport in the 200k – 400K range.

Everyone looking for property in Southport and Brunswick County needs to know what is happening in the specific communities and neighborhoods they are considering. List prices are all over the place and don’t necessarily reflect actual SOLD prices. So focusing on these sold prices and units sold, I will attempt to give you a few stats that might help you in determining values both historically (over the last 5 years) and presently (2010).

5 YEAR -  No. of homes sold – 85   • Avg size: 2000 sf
  • Avg list price – $289K   • Avg sold price – $283                            
  •Avg days on market – 264   • Avg price/sf - $142

2010 -  No. of homes sold – 3   • Avg size – 1800 sf
  • Avg list price - $266K   • Avg sold price - $245K
  • Avg days on market – 405   • Avg price/sf - $139

Summary: The adage “All real estate is LOCAL” couldn’t be more true in this case. Everyone knows that real estate sales and values have dropped significantly in virtually all local, state, and national markets. What I find interesting about Arbor Creek specifically is that while the number of units sold have dropped and days on market have increased, the average sold prices/sf have remained relatively steady over the last 5 years.

As a Brunswick County Buyer’s Agent, it is my job to look at these and other stats in aiding my to determine real market value in the communities they are looking BEFORE they make an offer. Other neighborhoods will have stats and trends that will mirror more closely the overall market and I will be posting that information here one community at a time. If you have any questions about Arbor Creek or would like to get more stats on it or other Southport area or Brunswick County communities, just email me and I will get it to you.

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