Monday, May 15, 2006

No shortage of homes for sale at the beach

The Daily News reports:
TOPSAIL ISLAND — The spring crop this year along the stretch of road that connects North Topsail Beach and Surf City isn’t the oleanders, crepe myrtles or even the sea oats.

But it’s visible on lawns just the same.

“For Sale” signs are sprouting like dandelions at homes along N.C. 210.

“The size of the MLS (Multiple Listing System) book is twice the size it usually is,” said Richard Baker of Treasure Realty in Sneads Ferry. “The sales equation has doubled since a year ago in January. The numbers are there. We’ve got a surge of inventory, no question in my mind.”

Home prices along the coast have skyrocketed over the past decade since hurricanes Bertha and Fran hit the North Carolina coast. This year’s property revaluation in Onslow County estimated the value of beach properties in some Topsail Island areas at close to 400 percent more than a year ago.
Check out the photo of all those for sale signs.