March 2018 Outer Banks Real Estate Market Update

March 2018 Outer Banks Real Estate Market Update

Residential Sales – Year-to-date residential sales are down by 8% and single-family home sales are down by 11%. Listings that were placed under contract were also down by 9% in this year.

The good news is that condominium sales are up by 22% and their median sale price is down by 10%. The number of days that a listing remains on the market has also declined by 24% since 2017.

Residential inventory, for the first time in a long time, is stable. This statistic will need to be monitored to see if there is a trend.

Lot / Land Sales - Sales are down slightly; however, average sale price and median sale price are up significantly - 27% and 26% respectively.

2017 that was one of the best for the Outer Banks real estate market in years and January 2018 had the highest residential sales volume since 2006.  It is still too early to declare a trend in the market. Check back next month for our next market report.

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.

Steven Donald Headshot
Phone: 252-489-0982
Dated: April 7th 2018
Views: 519
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