Overall, the price of an ocean front home on the Outer Banks is going up. The chart below is broken down by areas and each area will be different so zoom in on your locality to see how this report fits your situation. Lumping all the areas together we get a composite picture of the market and it is improving. The median price went up to $925,000 in 2015 from $900,000 in 2014, an increase of 3%. Likewise, the average price went up from $1,048,000 in 2014 to $1,115,000 in 2015 for an increase of 10%.
If you are thinking about selling your ocean front home in the Outer Banks, give me a call or click one of the links below to find out what I can do for you.
Sold Market Outer Banks Ocean Front Homes 2015 | |||||
No. of Listings | Dollar Volume | Average Price | Median Price | Average DOM | |
RESIDENTIAL | |||||
Other | 2 | $1,717,500 | $858,750 | $858,750 | 206 |
Conventional | 53 | $44,028,660 | $830,729 | $653,100 | 286 |
Cash | 22 | $22,318,280 | $1,014,467 | $975,000 | 218 |
Owner Finance | 2 | $2,915,000 | $1,457,500 | $1,457,500 | 110 |
Jumbo Loan | 20 | $39,408,587 | $1,970,429 | $1,633,750 | 249 |
Analysis By Area | |||||
4-Wheel Drive Area | 3 | $2,795,000 | $931,667 | $880,000 | 496 |
Corolla Oceanside | 25 | $45,277,587 | $1,811,103 | $1,450,000 | 251 |
Duck Oceanside | 7 | $7,770,500 | $1,110,071 | $906,000 | 274 |
Southern Shores Oceanside | 3 | $2,722,000 | $907,333 | $860,000 | 570 |
Kitty Hawk Oceanside | 4 | $1,383,000 | $345,750 | $347,250 | 88 |
Kitty Hawk between Hwys | 1 | $460,000 | $460,000 | $460,000 | 61 |
Kill Devil Hills Oceanside | 6 | $5,533,000 | $922,167 | $815,000 | 196 |
Nags Head Oceanside | 10 | $13,957,500 | $1,395,750 | $1,300,000 | 192 |
S. N.H. East/Old Oregon R | 11 | $9,682,240 | $880,204 | $825,000 | 370 |
Rodanthe Oceanside | 3 | $1,432,000 | $477,333 | $504,000 | 229 |
Waves Oceanside | 3 | $2,317,500 | $772,500 | $825,000 | 245 |
Salvo Oceanside | 10 | $6,529,920 | $652,992 | $473,910 | 247 |
Avon Oceanside | 8 | $5,111,500 | $638,938 | $561,250 | 149 |
Frisco Oceanside | 2 | $1,781,280 | $890,640 | $890,640 | 247 |
Hatteras Oceanside | 3 | $3,635,000 | $1,211,667 | $1,110,000 | 355 |
Totals | 99 | $110,388,027 | $1,115,031 | $925,000 | 259 |
Non Co-op Sales | 14 | $17,535,320 | $1,252,523 | $1,105,000 | 281 |
Co-op Sales | 85 | $92,852,707 | $1,092,385 | $906,000 | 255 |
Total Sales | 99 | $110,388,027 | $1,115,031 | $925,000 | 259 |
Sold Market Outer Banks Ocean Front Homes 2014 | |||||
No. of Listings | Dollar Volume | Average Price | Median Price | Average DOM | |
RESIDENTIAL | |||||
Other | 1 | $2,432,224 | $2,432,224 | $2,432,224 | 343 |
Conventional | 71 | $57,097,902 | $804,196 | $787,000 | 290 |
Cash | 28 | $32,932,315 | $1,176,154 | $903,250 | 278 |
Owner Finance | 1 | $1,200,000 | $1,200,000 | $1,200,000 | 530 |
Jumbo Loan | 14 | $26,884,609 | $1,920,329 | $1,525,000 | 166 |
Analysis By Area | |||||
4-Wheel Drive Area | 3 | $4,882,000 | $1,627,333 | $770,000 | 144 |
Corolla Oceanside | 23 | $36,807,084 | $1,600,308 | $1,333,000 | 265 |
Duck Oceanside | 9 | $14,489,000 | $1,609,889 | $1,100,000 | 259 |
Southern Shores Oceanside | 7 | $8,990,000 | $1,284,286 | $1,100,000 | 387 |
Kitty Hawk Oceanside | 1 | $305,000 | $305,000 | $305,000 | 35 |
Kill Devil Hills Oceanside | 8 | $8,055,000 | $1,006,875 | $612,500 | 195 |
Nags Head Oceanside | 18 | $20,053,249 | $1,114,069 | $980,000 | 229 |
S. N.H. East/Old Oregon R | 17 | $10,092,000 | $593,647 | $470,000 | 245 |
Rodanthe Oceanside | 3 | $896,600 | $298,867 | $237,000 | 200 |
Waves Oceanside | 7 | $3,163,057 | $451,865 | $473,750 | 616 |
Salvo Oceanside | 7 | $5,506,345 | $786,621 | $425,000 | 278 |
Avon Oceanside | 8 | $4,396,465 | $549,558 | $482,500 | 294 |
Buxton Oceanside | 1 | $1,000 | $1,000 | $1,000 | 0 |
Frisco Oceanside | 2 | $1,669,500 | $834,750 | $834,750 | 343 |
Hatteras Oceanside | 1 | $1,240,750 | $1,240,750 | $1,240,750 | 253 |
Totals | 115 | $120,547,050 | $1,048,235 | $900,000 | 275 |
Non Co-op Sales | 25 | $20,616,600 | $824,664 | $584,500 | 245 |
Co-op Sales | 90 | $99,930,450 | $1,110,338 | $969,999 | 283 |
Total Sales | 115 | $120,547,050 | $1,048,235 | $900,000 | 275 |
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