Outer Banks Real Estate Market March 2020

Outer Banks Real Estate Market March 2020

 The Outer Banks is under a lockdown with no nonresidents allowed to enter Dare County and Currituck Outer Banks. This is placing most businesses under tremendous pressure including real estate sales. We can only hope that the virus will be controlled so the Outer Banks can reopen and the tourist season can be salvaged. 

If you are able please consider contributing to an Outer Banks food bank such as the beachfoodpantry.org to help our families affected by the shutdown. 

March real estate results: 

• Sales - Surprisingly, monthly sales were up 7% in March and yearly sales were up 14% over 2019. The MLS projects that sales will be down in April due to COVID-19. 

• Lot / Land sales were up 11% when compared with 2019. 

• Under Contract - The number of under contract listings are down 2% from 2019 and down 12% since last month. 

• Inventory - Residential inventory is down from last year by 18% and total inventory is down by 13% 

Below is the median selling prices of homes in select Outer Banks towns. 

Corolla - $482,875 

Duck - $507,500 

Southern Shores - $420,000 

Kitty Hawk - $352,000 

Kill Devil Hills - $340,000 

Colington - $293,500 

Nags Head - $411,000 

All Hatteras - $359,000 

Roanoke Island - $307,000 

Currituck Mainland - $268,000 

Ocracoke Island - $342,250 

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.

Steven Donald Headshot
Phone: 252-489-0982
Dated: April 15th 2020
Views: 783
About Steven: Steve Donald and At The Beach Realty //// At the Beach Realty is a local firm located in Kitty ...

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4802 Palmer Drive
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