The Outer Banks lockdown has been lifted! Welcome back! April real estate results: • Sales - As expected, total month to month sales are down 23%. Comparing 2019 to 2020, sales are
Outer Banks Real Estate Market September 2019
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 January-September 2018, sales in general are up 3% with Residential sales up 5%. More specifically--Single-Family Detached sales are up 7%.
Overall, inventory is up with Commercial properties having the highest percentage at 17%. Lots/Land inventory is up for the third month in a row at 12%. This may indicate a great time to build! However, Residential inventory is down 2% which still indicates that it may be harder to to buy a a house now.
Despite Hurricane Dorian, Residential unit sales were up 80% in Ocracoke which is good news. Currituck Mainland also saw a 24% increase in sales compared to January-September 2018 with the median price of a Residential home jumping 9% to $265,500.
Here are the median sales prices for selected towns on the OBX:
Corolla - $490,000
Duck - $473,000
Southern Shores - $463,000
Kitty Hawk - $351,250
Kill Devil Hills - $282,200
Colington - $276,750
Nags Head - $390,000
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....