Nags Head Year End Market Update 2016

By
Real Estate Broker/Owner with Shore Realty of the Outer Banks NC#127284

 As you can see in the 2 charts below, the number of residential sales dropped a bit while at the same time the median price increased. This data is for single family homes, condos and town houses combined and is supplied by the Outer Banks Association of Realtors. The median price of a residential property in Nags Head went up 4% from 2015 to 2016 from $370,000 to $383,500.

Your property in Nags Head might have gone up or it could have gone down in Value. Not all areas in Nags Head are experiencing the same market increase.

The median price of westside house in Nags Head is $325,000 compared to $291,000 the year before and $277,500 the year before that. This 11% gain in housing on the westside, or soundside, in Nags Head, offsets the continual loss of value the area in between the two main roads is still experiencing. The second home market is substantially stronger than the investment market.

If you are considering possibly selling your house in Nags Head, or you just want to stay up to date with the local real estate market, click one of the links below or give me a call to find out what your Nags Head house is worth in today's real estate market.

 

    Sold Market Nags Head 2016

         No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM
 
    RESIDENTIAL
                  Other     7     $4,878,333     $696,905     $424,000     194
                  Conventional     134     $57,029,457     $425,593     $372,000     191
                  FHA     1     $330,000     $330,000     $330,000     213
                  VA     4     $1,468,500     $367,125     $337,000     267
                  Cash     33     $17,217,100     $521,730     $367,000     238
                  Owner Finance     2     $1,000,000     $500,000     $500,000     207
                  Jumbo Loan     5     $6,063,000     $1,212,600     $870,000     111
    
    Analysis By Area
                  Nags Head Oceanside     20     $16,473,000     $823,650     $747,500     212
 S. N.H. East/Old Oregon R     25     $16,816,640     $672,666     $455,000     197
 Nags Head between hwys     52     $24,251,783     $466,380     $445,800     185
 S. N.H. West/Old Oregon R     21     $7,685,400     $365,971     $324,900     242
 Nags Head Westside     68     $22,759,567     $334,700     $311,850     193
                  Totals     186     $87,986,390     $473,045     $383,500     199
    
                  Non Co-op Sales     27     $15,012,350     $556,013     $450,000     193
                  Co-op Sales     159     $72,974,040     $458,956     $375,000     200
                  Total Sales     186     $87,986,390     $473,045     $383,500     199

 

 

    Sold Market Nags Head 2015
         No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM
 
    RESIDENTIAL  Nags Head 2015
                  Other     2     $1,100,819     $550,410     $550,409     218
                  Conventional     130     $56,545,566     $434,966     $377,000     209
                  FHA     6     $1,724,400     $287,400     $275,000     137
                  VA     1     $340,500     $340,500     $340,500     318
                  Cash     40     $18,864,774     $471,619     $349,500     132
                  Owner Finance     2     $942,500     $471,250     $471,250     56
                  Jumbo Loan     6     $5,359,000     $893,167     $922,500     166
                  USDA     2     $370,500     $185,250     $185,250     106
    
    Analysis By Area
Nags Head Oceanside          27     $18,035,900     $667,996     $442,500     190
S. N.H. East/Old Oregon R     32     $17,387,240     $543,351     $395,000     226
Nags Head between hwys     51     $24,012,475     $470,833     $490,000     205
S.N.H. West/Old Oregon R     12     $4,703,547     $391,962     $372,000     153
 Nags Head Westside     67     $21,108,897     $315,058     $290,000     159
                  Totals     189     $85,248,059     $451,048     $370,000     187
    
                  Non Co-op Sales     28     $11,744,492     $419,446     $357,000     161
                  Co-op Sales     161     $73,503,567     $456,544     $370,000     191
                  Total Sales     189     $85,248,059     $451,048     $370,000     187
Posted by

Greg Cremia

Broker/Owner

Shore Realty

Helping People Buy and Sell Outer Banks Real Estate Since 1989!

800-647-1868

greg@ShoreRealtyOBX.com

 

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