Bald Head Island Real Estate Market Recap – May 2020
Posted on May 27, 2020
Greetings from Bald Head Island! We hope you and your family are healthy as communities across the country continue to grapple with COVID-19. We thought you might appreciate an update on Bald Head Island real estate market activity over the last couple of months.
Despite visitation restrictions and island business closures due to COVID-19, our office is within $600,000 of closed and pending sales compared to last year to date. Interest remains especially high for homes priced less than $1 million. For many buyers, time and construction costs make existing homes more attractive than building, especially if properties are in market-ready condition and priced correctly. For buyers with longer timelines who want a property tailored to their family’s specific desires, purchasing a lot and partnering with a builder can work well. Twenty-six new homes are currently under construction on the island, which is consistent with construction levels over the past several years.
Going forward, we anticipate communities like Bald Head Island will continue to appeal to consumers in congested urban areas who are looking for a place of solitude and safe haven to live full-time or own a vacation getaway.
Island businesses, including the Intracoastal Realty sales office, are reopening to visitors with safety restrictions such as social distancing, reduced occupancy and face masks. If you’d like to explore island real estate in person, please contact our office at 800-888-3707, and we can coordinate a socially-distanced tour tailored to your interests. You can also view all island properties available for sale on our website.
The snapshot below presents Bald Head Island real estate market activity since April 1, 2020. We hope you find it helpful. As always, if we can answer any questions you have about buying or selling an island property, don’t hesitate to reach out. Whether in person or through a virtual meeting, our team is here to help.
Recently Sold Properties:
16 Sumners Crescent
6 Merchants Row B
4 Mourning Warbler Trail
F-2 Row Boat Row