Overall: Average sale prices increased compared to the last two years. Single Family Detached Home sales are up 13% and condo sales are up 12% for 2017.
•Inventories: Inventories are down when compared to October 2016. Residential inventory is down -2% and Lots / Land inventory is down -9%.
•Average Home Price: The average price for a condo in October 2017 is up 2%, Residential Sales were up 4% and Lots/Land was down -14%.
•Total Sales: Total Residential volume sold is up 12% compared to last year.
•Days on the Market: The average Days on the Market for Residential properties listed in the MLS in October decreased to 147 from 162. Another statistic to note is that Days on the Market for Land/Lot sales was dramatically lower.
Based on information from the Outer Banks Association of REALTORS® MLS for the period October 2015 through October 2017. Information contained herein is deemed reliable but not guaranteed and may not reflect all real estate activity in the market.
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