Outer Banks Real Estate Market November 2019

Outer Banks Real Estate Market November 2019

• Sales - November had the highest sales volume since 2005.  Sales increased 7%.

• Residential sales were up 9%. Lot / Land sales were down 3% and commercial sales up 53%. 

• Under Contract - Under contract listings are up 17%. This is the highest number of under contract listings in November since the MLS started keeping data in 2013. 

• Inventory - Residential inventory was down 2%. Lots / Land inventory is up 2% and Commercial inventory up 3%. 

• Building Permits - New construction is slowing down. It is interesting to note that building permits dropped from 259 in 2018 to 172 in 2019, down 33%. 


Median home prices are generally up from 2018. Below are the median sales prices for selected towns on the OBX: 

Corolla - $502,750 

Duck - $476,000 

Southern Shores - $469,000 

Kitty Hawk - $374,000 

Kill Devil Hills - $285,000 

Colington - $286,728 

Nags Head - $390,000 

All Hatteras - $339,500 


Based on information from the Outer Banks Association of REALTORS® MLS. Information contained herein is deemed reliable but not guaranteed and may not reflect all real estate activity in the market. Opinions expressed are solely my own and do not express the views or opinions of my employer.


Steven Donald Headshot
Author:
Phone: 252-489-0982
Dated: December 11th 2019
Views: 69
About Steven: Steve Donald and At The Beach Realty //// At the Beach Realty is a local firm located in Kitty ...

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