It is once again time to shop for Outer Banks real estate and your home on the beach. Really. Throughout this year single family homes for sale from Corolla, Duck, Southern Shores, Kitty Hawk, Kill Devil Hills, and through Nags Head have averaged 1% above the average sales price for 2010. Considering that this is the first year out of several that the prices have not fallen, it is time for serious buyers to come back and get the best of the buys!
Some buyers have already taken advantage of Outer Banks real estate once again being a good buy. The number of sales have increased 5% over 2010.
With this boring read of statistics, let me show you some exact numbers. While resort real estate remains higher than traditional home sales, just remember there is only so much beach property ... and it will continue to be in demand.
Over the past few years, prices have dropped significantly. Now that they are reasonable again, buyers are serious about getting back in the market, both as investors and as second home owners. See below to get a glimpse of the price corrections on past Outer Banks homes for sale. Call me for details on currently listed property for sale. I will find the great buys for you.
A Nags Head ocean front home at 114 E. Sea Holly Court sold in 2004 for $1,300,000 and sold again at $1,000,000 in 2010.
A Kill Devil Hills ocean front home at 1005 N. Virginia Dare Trail sold at $3,000,000 in 2003 and sold again in 2009 for $1,653,750
A Pine Island ocean front home at 115 Cadwall Road (Corolla) sold in 2006 for $2,775,000 and resold at $1,850,000 in 2010.
Another Corolla home - ocean front - at 991 Lighthouse drive in Whalehead sold in 2006 for $1,795,000 and in 2011 sold at $860,000.
167 Mantoac Court in Duck on the ocean sold in 2005 for $2,465,000 and again in 2009 for $1,500,000.
Homes away from the ocean front have also seen great price reductions ... for the buyers. Sellers are pricing to compete with other property including short sales and foreclosures. Don't rule anything out.
With prices stabilized and poised for a slight annual increase now is the time to buy your Outer Banks home. Let us help you find the best buys. Outer Banks homes for sale currently offer a wide variety of locations, styles, and prices. Let's talk about your wishes for Outer Banks ownership today. It is never to soon to begin making your dream a reality.