Team Bg
Market Update

DREW’S CORNER: December 2023

It’s been an incredible year and it’s hard to believe it’s almost 2024! We wanted to take this time to wish you all a very happy holiday season. We are looking forward to what’s in store in the new year. Some BIG THINGS happened this year in our coastal area and for our Beatty Pittman Team. TUNE IN for a quick recap and to get the scoop for what’s in store for us in the coming year! 

Video Transcript: Hey folks, Drew Pittman with the Beatty Pittman Team. I hope you all are doing great and I hope you had a wonderful holiday season with family and friends over the last week or two. It’s hard to believe, but here we are. It is the end of 2023, but we are looking forward to what 2024 has in store for us. But before we get too far ahead, did want to just give a little recap of some big things that happened not only here at the team, but in the Wilmington market. Starting with luxury home sales, we saw some record breaking numbers of 13 million for single family home, 17 million for a residential property on the waterway with some acreage. Just some really astounding numbers that we had not seen in our market yet, and that’s just a testament to the luxury market continuing to thrive and where people with that kind of money are looking to invest in these special properties. We also broke a record in my 20 plus years in real estate, which was an 8% interest rate that we hit in the fall. Put a lot of downward pressure on the buyers, coupled with inflation and appreciation. As we all know, it really slowed down the activity here, and we’ve been talking about that over the last few months. But we’re beginning to see a little bit of relief as the rates are beginning to come down. Perhaps the Fed will drop their rate sometime in the spring and bring it down a little bit more, but we are beginning to see some 6% numbers in the interest rates going forward. We hope that will continue. For us here on the team, very big accomplishment in the spring when we surpassed two billion in sales volume, over 8,000 families that we have helped throughout the decades. When Keith started this team in the 90s, it’s just kind of hard to believe, but it took a lot of hard work from many agents that have been a part of this. We are thankful to all our clients, our vendors, and our supporters to help us to reach that goal and we’re just super proud to have helped so many people in this market and we hope to continue to do it for many more years. So just a special accomplishment for us and a big year all round. But like I said, we’re looking forward to 2024. If you have any needs in the real estate world or just general questions, anything that we can help you with, please don’t hesitate to reach out. Of course, you can reach us at 910-509-1924 and as always online at Just want to wish you all a very happy and safe New Year and we look forward to speaking to you next year. We are headed back to the Northeast in January and February, so if you’re going to be at the Ideal Living Shows, be on the lookout for us. Hope to see you soon.

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