Nags Head Home Sales Update 2023

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

Forget what all the talking heads are saying. The real estate market is not crashing. It might be depressed in some areas but not in Nags Heads on the Outer Banks.

While the Nags Head home sales market size has shrunken considerably , the prices for homes are continuing to go up. This might be because property owners have become reluctant to sell which is keeping the inventory low which always boosts real estate prices.

The number of home sales dropped 40% from 2021 to 2022  and the median price went  up  17% from $665,000 in 2021 to $800,000 in 2022.

 

Nags Head Home Sales in 2021

  No. of Listings Dollar Volume Average Price Median Price Average DOM
 
RESIDENTIAL
Other 6 $7,405,000 $1,234,167 $915,000 68
Conventional 209 $147,997,959 $708,124 $610,000 40
FHA 1 $335,000 $335,000 $335,000 9
VA 3 $1,469,900 $489,967 $465,000 37
Cash 54 $52,640,990 $974,833 $774,500 29
Owner Finance 1 $501,000 $501,000 $501,000 6
Jumbo Loan 31 $58,908,500 $1,900,274 $1,880,000 67
 
Analysis By Area
Nags Head Oceanside 54 $98,699,900 $1,827,776 $1,798,250 41
S. N.H. East/Old Oregon R 50 $48,517,543 $970,351 $790,105 72
Nags Head between hwys 71 $52,572,687 $740,460 $725,000 27
S. N.H. West/Old Oregon R 21 $15,479,317 $737,110 $685,000 52
Nags Head Westside 109 $53,988,902 $495,311 $454,501 35
Totals 305 $269,258,349 $882,814 $665,000 41
 
Non Co-op Sales 47 $44,088,578 $938,055 $630,144 25
Co-op Sales 258 $225,169,771 $872,751 $674,500 44
Total Sales 305 $269,258,349 $882,814 $665,000 41

 

Nags Head Home Sales in 2022
  No. of Listings Dollar Volume Average Price Median Price Average DOM
 
RESIDENTIAL
Conventional 115 $107,134,822 $931,607 $745,000 29
Cash 50 $59,234,438 $1,184,689 $950,000 24
Jumbo Loan 18 $32,036,000 $1,779,778 $1,697,500 40
 
Analysis By Area
Nags Head Oceanside 29 $60,223,828 $2,076,684 $2,000,000 31
S. N.H. East/Old Oregon R 37 $46,300,400 $1,251,362 $950,000 33
Nags Head between hwys 54 $52,363,063 $969,686 $930,000 31
S. N.H. West/Old Oregon R 9 $7,850,000 $872,222 $775,000 19
Nags Head Westside 54 $31,667,969 $586,444 $561,950 23
Totals 183 $198,405,260 $1,084,182 $800,000 28
 
Non Co-op Sales 20 $22,418,500 $1,120,925 $854,500 24
Co-op Sales 163 $175,986,760 $1,079,673 $800,000 29
Total Sales 183 $198,405,260 $1,084,182 $800,000 28
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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