Wilmington, North Carolina… The Next Big Thing

Wilmington, NC
Wilmington, NC - Historic Downtown Waterfront

Good news for southeastern North Carolina! Outside Magazine recently ranked Wilmington among its list of nineteen Best Towns. From the magazine, “These towns are the finest places you’d ever want to call home, from a Midwestern mountain-biking hub, to a Seattle-area hang-gliding mecca, to, um, Boulder.”

Here’s what they wrote about Wilmington:

“Similar to Charleston: southern charm, a 300-year-old harbor, ample seafood. But what sets Wilmington (pop. 106,500) apart from its genteel South Carolina neighbor is an economy in overdrive—not long ago, it was the second-fastest-growing economy in the U.S. Thanks to EUE Screen Gems, it’s also home to the largest motion-picture and television studio outside California. (The local film industry employs some 800 people.) Situated where the Cape Fear River meets the Atlantic, the former military port’s recreation options are mostly water-based—sea-kayaking, sailing, deap-sea fishing—and the biggest party of the year is, naturally, Riverfest, a frenzy of vendors, fireworks, music, athletic competitions, and invading pirates.”

Rivers Edge Golf Club & Plantation is located just 40 minutes south of Wilmington in Shallotte, NC. Our community is in the perfect location, nestled along the river in the Brunswick Islands coastal corridor. Have you planned a visit to our area yet? Call us at 800-789-0535 or fill out a contact form to start planning a visit to Wilmington & Rivers Edge.

Growth in Strong Real Estate Markets Including Brunswick County, North Carolina

If Warren Buffet is right (and given his track record of Berkshire stock appreciating from $15 in 1965 to $119,800, he very often is), the US will recover from its residential housing slump by 2011.   “Within a year or so, residential housing problems should largely be behind us,” he wrote in his annual letter to Hathaway shareholders.

Most economists agree that a full-fledged recovery should begin this year, and based on last year’s performance, it is clear that some markets are prepared to grow more quickly than others in 2010.   According to Builder magazine and their “Builder Market Health Index”, compiled by Hanley Wood Market Intelligence, seven of the top 20 markets will be in the Carolinas, including the popular Brunswick County coastal corridor between Wilmington, North Carolina, at number 17 and Myrtle Beach, South Carolina, at number 15.

Brunswick County Coastal Corridor
Brunswick County Coastal Corridor

Wilmington – Strong employment and population growth, along with its location – minutes from the Atlantic Ocean – should prompt a turnaround in new home construction this year.  A large historic district encompassing 300 city blocks, a new convention center debuting in 2010, and expansion at the Port of Wilmington combine for an excellent outlook for this coastal town in the coming year.

Myrtle Beach is another market that has benefitted from its fantastic location, adding new people to its population with one of the highest household formation rates in the country – 2.5% in 2009, with that rate expected to continue in 2010.  Total building permit activity rose strongly, 47%, in the fourth quarter of last year compared to the same period a year earlier.

The coastal corridor between these two cities is known as Brunswick County, which remains one of the 100 fastest growing counties in the U.S. at number 68.  Boasting four family-oriented beaches – Oak Island, Holden Beach, Ocean Isle Beach, and Sunset Beach – and some of the best golf courses in the nation, Brunswick County is poised to share in the success of its neighboring coastal towns.