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.
Overall, sales are down 17% for September. Hurricane Florence may be a factor.
Under Contract listings were down 17%.
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.
Author:Steven Donald Phone: 252-489-0982 Dated: October 10th 2018 Views: 315 About Steven: Steve Donald and At The Beach Realty ////
At the Beach Realty is a local firm located in Kitty ...
View our latest blog posts in your RSS reader. Click here to access.
Since 1996 I have been proudly selling real estate on the Outer Banks of North Carolina. I can think of no other career than to help people realize their dream of home ownership on these beautiful barrier islands. I represent buyers and sellers, whether you are a first time buyer, seasoned investor or somewhere in between. You can count on myself and my team to be with you every step of the way. Honesty and Integrity are the core values of our company.