The Outer Banks real estate market had a good year in 2018. This year may be a different story and should be watched closely. Sales are flat while listings Under Contract have declined sharply. Inventory, on the other hand, is up by 5%. Median sale price, depending on area, is also flat.
Year over year December sales are down 9% from 2017 and total yearly sales are down by 6%.
Under contract listings year over year December are down 12% from 2017.
Inventory is rising and stands at 1,441. Up by 6% from 2017.
Residential Unit Sales
Year over year December residential sales are basically flat.
Median Sale Price
Median sale price has been rising since 2012. Year over year December is down 1%.
Days on the market
Homes are staying on the market an average of 111 days. This is down 8% from last year.
Lots / Land Sales
Land sales continue to decline but the medium sales price is up 3% in 2017 and 16% in the past two years.
Although foreclosures are down year over year for the last 4 months there has been a steady increase. Something to watch.
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.
Author:Steven Donald Phone: 252-489-0982 Dated: January 16th 2019 Views: 160 About Steven: Steve Donald and At The Beach Realty
At the Beach Realty is a local firm located in Kitty Hawk, N...
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Since 1996 I have been proudly selling real estate on the Outer Banks of North Carolina. I can think of no other career than to help people realize their dream of home ownership on these beautiful barrier islands. I represent buyers and sellers, whether you are a first time buyer, seasoned investor or somewhere in between. You can count on myself and my team to be with you every step of the way. Honesty and Integrity are the core values of our company.
The Outer Banks real estate market is showing signs of continued slowi
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