• Sales - Sales of all classes are up 4% for the year and August sales were at a record level not seen since August 2005.
• Residential Sales - Residential sales are up 5% and should continue this trend in September
• Inventory - Overall, inventory is up 4% with Residential down by 2%, Lots / Land inventory up by 14% (second month in a row).
• Lots / Land Sales - Lot sales declined for the last two months; however, inventory is rising.
• Under Contract - There are over 400 listings in an Under Contract status.
Here are the median sales prices for selected areas on the OBX:
Corolla - $485,000
Duck - $485,500
Southern Shores - $458,000
Kitty Hawk - $351,250
Kill Devil Hills - $286,000
Colington - $274,500
Nags Head - $390,000
All Hatteras - $330,000
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 firm.
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