The Outer Banks real estate market is still sizzling! We have low inventory and activity hasn't been this good since 2005.
- Under contract listings are up 127% over August 2019. There is 989 homes under contract.
- Available inventory is down 52% with only 723 units available for sale. Lower inventory should continue to support rising prices.
- Lot/land inventory is down 22% with 664 available for sale.
- Foreclosures - there is only 10 distressed properties for sale. This is down 50% from last August.
- Building permits is up 29% from last year.
Here are the median sales prices for selected towns on the OBX:
Corolla - $496,000
Duck - $437,000
Southern Shores - $472,500
Kitty Hawk - $369,000
Kill Devil Hills - $325,000
Colington - $295,000
Nags Head - $441,000
All Hatteras - $350,000
Roanoke Island - $327,500
Currituck Mainland - $268,000
Ocracoke Island - $312,500
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.
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