The Outer Banks lockdown has been lifted! Welcome back!
May real estate results:
•Under Contract - Under Contracts are through the roof. With 549 listings under contract this is the highest number since the MLS started tracking this data. (As of June 8th the number of under contracts stands at 621; however, this number is not reflected in thisreport)
• Although we are experiencing a record number of under contracts, getting these listing to closing has been hampered by the pandemic and the slowdown of real estate services - such as home inspectors, appraisers and attorneys. Appraisers have reported that theyare so overwhelmed that they are running up to 4 weeks behind.
• Inventory has declined sharply in the past year - with residential inventory down 23% and land inventory down 12%.
• Lot and Land Sales - Lot sales are down 23% with inventory down 12%.
Below is the median selling prices of homes in select Outer Banks towns.
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.
Author:Steven Donald Phone: 252-489-0982 Dated: June 15th 2020 Views: 435 About Steven: Steve Donald and At The Beach Realty ////
At the Beach Realty is a local firm located in Kitty ...
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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.