Under Contract listings, up 17%, are still at their highest since September 2017 which again looks good for closings in October. While YTD Condominium & Lot/Land sales are down compared to
Outer Banks Real Estate Market Update July 2019
The Outer Banks had the highest number of listings under contract since the MLS started tracking this data in September 2013 - 454 listings. This is up 7% over July 2018. Expect a record number of closings in August.
Year over year, sales are up for Residential and Commercial listings, but lot / land sales are off by 11%. Residential inventory is up by 3%. Lots / land is up by 14%. Commercial is up by 13%
Distressed sale inventory and foreclosures are down from last year. There were only 16 listings in inventory and 3 new foreclosures for the month.
Here are the median sales prices for selected towns on the OBX:
Corolla - $492,500
Duck - $502,500
Southern Shores - $435,000
Kitty Hawk - $350,500
Kill Devil Hills - $284,100
Colington - $284,900
Nags Head - $398,000
All Hatteras - $330,000
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.
Steve Donald and At The Beach Realty //// At the Beach Realty is a local firm located in Kitty Hawk, North Carolina with over 22 years’ experience selling Outer Banks real estate. We are member....
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• Sales - Sales of all classes are up 4% for the year and August sales were at a record level not seen since August 2005.• Residential Sales - Residential sales are up 5% and should continue