outer banks real estate market: June Outer Banks Market Update
- 06/30/14 11:07 AM
Activity has definitely improved in the 2nd quarter over the poor performance of the 1st quarter. Here are the main highlights: While it seems that the median sales price is rising, a closer look into the numbers reveals that instead there are simply fewer homes available in the under $300,000 range. With more homes selling in the half million range, it’s pushing the average sale price up. However, that’s NOT the same as prices are rising. There is still over 20 months of inventory on the market for our local area. A normal market is 4 to 6 months. We have 3248 properties … (0 comments)
outer banks real estate market: The 2013 Outer Banks Real Estate market review
- 01/14/14 02:20 AM
The most important trends we saw in the last 12 months are as follows: Residential units sold were down 2% (34 units) Average sales price was down by 5% ($17,743) Average sales price was $348,598 Distress sales units sold down 21% The majority of this decline happened in the last 6 months of 2013 Land sales were up by 14% Average price for land down 23% Active inventory remained high and appears to be climbing again The conclusions we can draw from this data are that the market looks like it wants to stabilize. With sales staying active and pricing not … (0 comments)
outer banks real estate market: Unofficial Market Data Report
- 12/20/12 03:35 AM
The year is almost over! It’s been a strong year for real estate sales on the Outer Banks. Some areas fared better than others and overall according to the November ending numbers there was only a small 1% to 2% decline in median sales price for our marketplace. While inventory levels still remain around 12 months for most of the Banks, the number of new listings coming on is slowly shrinking. We also noticed a change in the average days on the market, which indicates sellers are more in tune with the current market value of their homes. Many properties actually … (2 comments)
outer banks real estate market: Thankful on the Outer Banks
- 11/20/12 10:19 PM
This month's update is pretty bland compared to some of the things happening in recent months. There are no insurance rate hikes, no damaging Hurricanes, no bridge news…only good news this month! While a good portion of our beaches were damaged during Sandy, we still remain extremely fortunate not to have received a direct hit. As is typical on the Outer Banks, most everything is cleaned up and businesses affected are back up and running. We do tend to recover from these things pretty quickly and that has certainly been the case with Sandy as well. Since we have … (0 comments)
outer banks real estate market: Outer Banks Update July 24, 2012
- 07/24/12 07:06 AM
Sales activity continues to be higher than last year. June finished with a 19% increase of sold properties over June 2011. Properties going under contract are still on the rise as well. Typically the summer months see a bit of a slow-down in activity, which we have, yet still maintained the increase. I suspect the Fall Market will be very strong indeed. Pricing seems to be stabilizing. Some towns are still declining while others are holding steady. For specific information on your location send me an email and I’ll get you a report. The study on erosion in Duck … (1 comments)
outer banks real estate market: Update to My 2012 Predictions
- 02/17/12 03:40 AM
It’s already time to update you all on some of my 2012 Outer Banks Predictions! In just a month’s time we’ve already seen a few interesting things happen. In case you missed the original email with all 10 of them, here’s a link.
Prediction – 2012 will see an increase in the number of sales over last year by 15%. Update - According to the numbers just released by our local association, residential sales for January were up 13% over last January. There’s no doubt this will be a great year to buy a home!
Prediction - Home … (2 comments)
outer banks real estate market: 365 days on the market could cost 28% of your home’s equity!
- 07/09/11 03:55 AM
I was compelled to write this blog after reading the same from J. Phillip Faranda (Link here to his blog called “Compelling Reason to Price Your Home Right”) about the importance of pricing your home at the right price from the start of your listing. When I saw the statistics for his marketplace, I got very curious if the same information was true for the Outer Banks. Well, what I found was interesting! You will in fact, make the most money for your home by pricing it to sell immediately. You can spend as much as 28% of your home’s … (2 comments)
Activity has definitely improved in the 2nd quarter over the poor performance of the 1st quarter.
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