Outer Banks Real Estate Market June 2020

Outer Banks Real Estate Market June 2020

 May real estate results: 

• Under Contract - In June we had a huge increase in the number of listings placed under contract. At the time of this report there are 842 under contract listings. 

• Closings - Even though sales figures are up slightly we are still seeing problems getting listings to closing. Appraisers, home inspectors and attorneys are overwhelmed. 

• Inventory has declined sharply in the past year - with residential inventory down 39% and land inventory down 14%.

• Lot and Land Sales - Lot sales are down 33% but prices are up 25% year over year. 

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

Corolla - $495,000 

Duck - $450,000 

Southern Shores - $417,500 

Kitty Hawk - $357,950 

Kill Devil Hills - $321,450 

Colington - $274,000 

Nags Head - $415,000 

All Hatteras - $332,500 

Roanoke Island - $308,000 

Currituck Mainland - $267,000 

Ocracoke Island - $321,500 

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 firm.

Steven Donald Headshot
Phone: 252-489-0982
Dated: July 13th 2020
Views: 173
About Steven: Steve Donald and At The Beach Realty //// At the Beach Realty is a local firm located in Kitty ...

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at the beach realty llc
4802 Palmer Drive
kitty hawk, NC