Outer Banks Real Estate Market March 2019

Outer Banks Real Estate Market March 2019

Overall, when comparing first quarter 2019 and first quarter 2018 sales, residential and commercial sales are up; however, lot / land sales are down sharply. Under Contract listings have been steadily rising since December. Distressed inventory has held steady; however, with no foreclosures in March in Dare County, inventory is expected to decline. 

Total Sales 

First quarter 2019 sales are up 4%. 

Under Contract 

We are experiencing the highest number of listings under contract since May 2017, up 9%. 

Residential Inventory 

Inventory is rising and stands at 1,651, up by 9%. Highest inventory since June of 2017. 

Residential Unit Sales 

Residential sales are down slightly from March 2018, but are still strong. 

Median Sale Price 

Median sale price continues to rise. Year over year prices are up 4%. 

Days on the market 

Homes are staying on the market an average of 107 days. This is down 16 days from last month. 

Lots / Land Sales 

Lot & land sales are down 33%. Inventories are up and the median price is down significantly. 

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 17th 2019
Views: 442
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