910 S Lumina Ave Sold at $3.5M After 412 DOM and 20% Price Cut

Property Summary

After 412 days on market and a 20% price reduction from its original $4,975,000 ask, 910 S Lumina Avenue in Wrightsville Beach went under contract at $3,990,000 and ultimately closed on April 7, 2026, at $3,500,000. The trajectory — listed August 2024, cut to $3.99M in August 2025, pending by October 2025, closed April 2026 — is a textbook case study in price discovery on the island's luxury segment. At ~$729/sq ft on listing square footage at the closed price, the property tests whether Wrightsville Beach buyers are gravitating toward larger, functional beach homes at relatively moderate per-foot pricing rather than smaller trophy assets commanding sharper premiums.

Fast Facts

• Address: 910 S Lumina Avenue, Wrightsville Beach, NC 28480
• List Price: $3,990,000
• Closed Sale Price: $3,500,000 (April 7, 2026)
• Beds / Baths: 5 bed / 5.5–6 bath (sources vary on half-bath count)
• Living Area: 4,800 sq ft (listing); tax records show 4,349 sq ft finished above grade
• Lot Size: 0.17 acres (~7,405–7,492 sq ft)
• Year Built: 2015 (listing) / 2014 (tax records)
• Price / Sq Ft: ~$729 at closed price (on 4,800 sq ft) or ~$805 (on 4,349 sq ft tax figure)
• DOM: 412 days
• Status: Sold (closed April 7, 2026)
• HOA: None reported
• Annual Taxes: $16,582 ($1,382/month); taxable value $4,617,700

What Stands Out

• 20% price cut in one move: The single reduction from $4,975,000 to $3,990,000 — nearly $1M — triggered contract activity within roughly two months, suggesting the original ask was materially above market clearing price.
• 412 DOM signals softening at the top: Extended time on market at this price tier is not unusual for Wrightsville Beach, but it underscores that island luxury inventory is not moving at aspirational pricing.
• Square footage discrepancy matters: The listing advertises 4,800 sq ft, but New Hanover County tax records show 4,349 sq ft finished above grade. That gap shifts price-per-square-foot from $729 to ~$805 at the closed price — a meaningful difference that changes comp positioning.
• 2012 purchase at $735,000: The prior sale was likely a pre-construction or teardown lot acquisition. The $3.5M closing price represents a ~376% gain over roughly 14 years, though construction cost is not publicly documented.
• Reverse floor plan with 3 stories and 3-car garage: Functional layout designed for coastal living, prioritizing upper-level living space for water views — a configuration that appeals to both primary and second-home buyers.
• No HOA: Unusual for island properties in this tier, removing a recurring cost variable and governance layer.

Pricing Lens

The closed price of $3,500,000 represents an additional ~12.3% discount below the $3.99M reduced list price, landing at roughly $729/sq ft on listing square footage (or ~$805/sq ft on the tax-record figure of 4,349 sq ft). Quantarium's January 2026 automated valuation came in at $4,015,743, well above the eventual closing price.

Direct comparable sales data for this micro-location is limited in public sources. The table below frames the property's own pricing history:

For full submarket comps, investors should pull NCRMLS #100462193 and recent closed sales along S Lumina Avenue between Harbor Island and Crystal Pier.

Neighborhood & Market Context

Wrightsville Beach remains one of the Cape Fear region's most supply-constrained residential submarkets. The island has no developable vacant land pipeline to speak of — new inventory comes almost exclusively from teardown-rebuilds or major renovations. S Lumina Avenue runs along the island's sound-to-ocean corridor, with properties on the east side commanding ocean proximity premiums.

The broader Wilmington metro continues to benefit from population in-migration, military-adjacent demand, and expanding healthcare infrastructure following Novant Health's acquisition of New Hanover Regional Medical Center, a partnership that officially began February 1, 2021. However, Wrightsville Beach's luxury segment operates somewhat independently of mainland fundamentals, driven more by second-home demand, retirement capital, and seasonal rental economics.

Risks & Watch-Outs

• Flood zone exposure: Wrightsville Beach properties along Lumina Avenue are typically in FEMA AE or VE coastal flood zones. Flood insurance premiums under Risk Rating 2.0 for a coastal structure at this value could be significant — verify with a CLUE report and current NFIP or private flood quotes. Specific premium estimates not confirmed in public records for this property.
• Wind and hail insurance: Coastal wind pool coverage through the NC Insurance Underwriting Association (Beach Plan) adds significant annual cost. Get binding quotes before closing.
• Square footage discrepancy: The 451 sq ft gap between listing (4,800) and tax records (4,349) needs resolution — request an independent appraisal or survey measurement.
• Property tax trajectory: At $16,582/year on a $4.6M taxable value, a reassessment triggered by a $3.5M sale could adjust the assessed value — though New Hanover County's revaluation cycle timing matters.
• System age: Built 2014–2015, the home is approaching 10+ years — HVAC units, roofing, and exterior cladding in a salt-air environment may be nearing maintenance or replacement cycles.

Before You Buy

• Confirm actual closed sale price at New Hanover County Register of Deeds (APN R06806-004-006-000)
• Verify exact finished square footage via independent measurement — resolve the 4,800 vs. 4,349 sq ft discrepancy
• Pull FEMA flood zone determination and obtain binding flood insurance quotes under Risk Rating 2.0
• Obtain NC Beach Plan wind/hail insurance quote for the structure
• Request full permit history from the Town of Wrightsville Beach for any post-construction modifications
• Confirm bath count (5.5 vs. 6) and whether any finished space is below base flood elevation
• Review 10-year maintenance status: HVAC service records, roof inspection, exterior envelope condition in salt-air exposure
• If evaluating for short-term rental income, note that short-term rentals are not permitted by right in the R-1 zoning district at Wrightsville Beach. A Special Use Permit may be required — confirm current ordinance compliance and any conditional zoning amendments with the Town of Wrightsville Beach.