Outer Banks Real Estate Market September 2018

Outer Banks Real Estate Market September 2018

The Outer Banks real estate market is following the national market. Sales are peaking with prices up, mortgage rates rising and inventory low. At some point we may move to a buyer's market, but if this does happen, it will take some time to develop.There are still good deals out there for existing homes, new construction and lots/land. Continue to rely on the expert advice of your real estate professional. 

Total Sales 

Overall, sales are down 17% for September. Hurricane Florence may be a factor. 

Under Contract 

Under Contract listings were down 17%. 

Residential Inventory 

Inventory is basically flat, up only 1%. 

Residential Unit Sales 

Year to year sales are down 16%. 

Days on the Market 

Days on the market is down to 112, but this decline is a reflection of the low sales volume. Average days on the market in 2017 was 120. 

Lots / Land Sales 

Sales are trending downward and are down 16%. Although sales are down, the average sale price is up by 26% and the median sale price is up by 21%. 

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 employer.

Steven Donald Headshot
Phone: 252-489-0982
Dated: October 10th 2018
Views: 307
About Steven: Steve Donald and At The Beach Realty //// At the Beach Realty is a local firm located in Kitty ...

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