Dare County, NC Real Estate News

By Greg Cremia
(Shore Realty of the Outer Banks)
Is there a housing shortage in Nags Head NC?According to various sources, Nags Head and the Outer Banks region are facing a serious challenge of affordable housing for both residents and workers. The median sale price of a home in Nags Head was $703K in June 2023, down 13.5% since last year, but still 67% higher than the national average . A survey conducted by Public Policy Polling in May 2022 found that 59% of North Carolinians agreed that affordable housing is a major problem in their communities, and 48% said state leaders should intervene to help alleviate the shortages . The problem is exacerbated by the lack of rental housing for seasonal workers, many of whom come from overseas and are unable to get visas due to the pandemic . The Outer Banks Chamber of Commerce has been advocat...
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By Greg Cremia
(Shore Realty of the Outer Banks)
Is there a housing shortage in Kill Devil Hills? This is a question that many residents, workers and visitors may ask as they face the challenges of finding affordable and available long-term housing in the coastal town. According to the Kill Devil Hills Board of Commissioners and Planning Board, the answer is yes. The town is experiencing a lack of long-term housing options for its employees, seasonal workers and permanent residents, who often have to commute from other areas or settle for substandard living conditions. The town's economy relies heavily on tourism, which creates a high demand for short-term rentals that can generate more income for property owners than long-term leases. However, this also reduces the supply of housing units that can be used for year-round occupancy, cr...
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By Greg Cremia
(Shore Realty of the Outer Banks)
If you are considering buying a second home in Kill Devil Hills, NC, you may be wondering what are the tax advantages of this decision. Here are some of the main benefits you can enjoy as a second-home owner:- You can deduct the mortgage interest you pay on your second home, just like you do for your primary residence. The IRS allows you to deduct the interest on up to $1 million of debt used to acquire or improve your first and second homes combined.- You can also deduct the property taxes you pay on your second home, regardless of how many homes you own. There is no limit on the amount of real estate taxes that can be deducted, as long as they are based on the assessed value of the home and you itemize your deductions.- You can rent out your second home for up to 14 days per year and ...
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By Greg Cremia
(Shore Realty of the Outer Banks)
Some general insights into the real estate market outlook for home buyers on the Outer Banks. However, please note that real estate market conditions can change rapidly and can vary based on numerous factors, including economic conditions, interest rates, and local trends. For the most up-to-date information, I recommend consulting a local real estate expert or researching current sources.Historically, the Outer Banks have been a popular destination for vacationers and second-home buyers due to its scenic beauty, coastal attractions, and recreational opportunities. This demand has influenced the real estate market on the Outer Banks. Here are a few trends that were recently relevant. Seasonal Fluctuations: The Outer Banks real estate market often experiences seasonal fluctuations, with ...
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By Greg Cremia
(Shore Realty of the Outer Banks)
The Nags Head NC real estate market is a popular destination for buyers who are looking for a coastal lifestyle, scenic views, and a variety of properties to choose from. The market offers a range of options, from oceanfront homes and condos, to soundside cottages and townhomes, to historic landmarks and new developments. The average home price in Nags Head NC is $608,000, which is higher than the national average of $295,300. However, the market also has some affordable options, especially for buyers who are willing to compromise on location or size. The market is influenced by seasonal demand, as many buyers are looking for vacation rentals or second homes. The peak season is from May to September, when the weather is warm and the beaches are crowded. The off-season is from October to...
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By Greg Cremia
(Shore Realty of the Outer Banks)
The Duck NC real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners right now are reluctant to sell for some reason which has created a lack of  home inventory for sale which in turn is keeping Duck NC home sales strong and the prices up.     Residential Homes Sold in Duck NC From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     8     $10,405,000     $1,300,625     $1,132,500     96                   Cash     7     $12,178,400     $1,739,771     $1,600,000     74                   Jumbo Loan     1     $1,450,000     $1,450,000     $1,450,000     271          Analysis By Area                   Duck Oceanside ...
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By Greg Cremia
(Shore Realty of the Outer Banks)
The Kitty Hawk NC real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners right now are reluctant to sell for some reason which has created a lack of  home inventory for sale which in turn is keeping Kitty Hawk NC home sales strong and the prices up.    Residential Homes Sold in Kitty Hawk NC From January 1, 2022 to April 11, 2022          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     19     $13,765,995     $724,526     $665,000     52                   FHA     1     $280,000     $280,000     $280,000     55                   Cash     5     $4,427,320     $885,464     $850,000     9          Analysis By Area                   Southern Shores Wests...
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By Greg Cremia
(Shore Realty of the Outer Banks)
The Chicahauk, Southerns Shores NC real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners right now are reluctant to sell for some reason which has created a lack of  home inventory for sale which in turn is keeping Chicahauk, Southerns Shores NC home sales strong and the prices up.     Residential Homes Sold in Chicahauk, Southerns Shores NC From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     4     $2,647,300     $661,825     $682,400     40                   Cash     1     $955,500     $955,500     $955,500     6          Analysis By Area                   Southern Shores Westside     5     $3,602,800  ...
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By Greg Cremia
(Shore Realty of the Outer Banks)
The Southern Shores NC real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners right now are reluctant to sell for some reason which has created a lack of  home inventory for sale which in turn is keeping Southern Shores NC home sales strong and the prices up.     Residential Homes Sold in Southern Shores NC From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     10     $7,316,900     $731,690     $699,950     62                   Cash     1     $560,000     $560,000     $560,000     99          Analysis By Area                   Southern Shores Oceanside     1     $725,000     $725,000     $725,000     9     ...
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By Greg Cremia
(Shore Realty of the Outer Banks)
The Kitty Hawk Landing real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners right now are reluctant to sell for some reason which has created a lack of  home inventory for sale which in turn is keeping Kitty Hawk Landing home sales strong and the prices up.    Residential Homes Sold in Kitty Hawk Landing From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     3     $1,817,000     $605,667     $580,000     18                   Cash     1     $610,000     $610,000     $610,000     11          Analysis By Area                   Kitty Hawk Westside     4     $2,427,000     $606,750     $595,000     16          ...
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By Greg Cremia
(Shore Realty of the Outer Banks)
The Kitty Hawk Beach real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners right now are reluctant to sell for some reason which has created a lack of  home inventory for sale which in turn is keeping Kitty Hawk Beach home sales strong and the prices up.     Residential Homes Sold in Kitty Hawk Beach From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     5     $3,375,000     $675,000     $570,000     41                   Cash     3     $3,100,000     $1,033,333     $1,100,000     11          Analysis By Area                   Kitty Hawk Oceanside     1     $1,050,000     $1,050,000     $1,050,000     1     ...
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By Greg Cremia
(Shore Realty of the Outer Banks)
The Kitty Hawk Shores real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners right now are reluctant to sell for some reason which has created a lack of  home inventory for sale which in turn is keeping Kitty Hawk Shores home sales strong and the prices up.     Residential Homes Sold in Kitty Hawk Shores in Kill Devil Hills From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     3     $1,535,000     $511,667     $500,000     52          Analysis By Area                   Kill Devil Hills b/w Hwys     3     $1,535,000     $511,667     $500,000     52                   Totals     3     $1,535,000     $511,667  ...
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By Greg Cremia
(Shore Realty of the Outer Banks)
The Kill Devil Beach real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners right now are reluctant to sell for some reason which has created a lack of  home inventory for sale which in turn is keeping Kill Devil Beach home sales strong and the prices up.     Residential Homes Sold in Kill Devil Beach in Kill Devil Hills NC From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     3     $1,303,500     $434,500     $499,500     35          Analysis By Area                   Kill Devil Hills Westside     3     $1,303,500     $434,500     $499,500     35                   Totals     3     $1,303,500     $434,500  ...
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By Greg Cremia
(Shore Realty of the Outer Banks)
The Kill Devil Hills real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners right now are reluctant to sell for some reason which has created a lack of  home inventory for sale which in turn is keeping Kill Devil Hills home sales strong and the prices up.     Residential Homes Sold in Kill Devil Hills NC From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     64     $32,093,988     $501,469     $497,250     43                   FHA     1     $165,000     $165,000     $165,000     37                   VA     6     $2,401,450     $400,242     $408,750     29                   Cash     13     $6,978,201     $536...
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By Greg Cremia
(Shore Realty of the Outer Banks)
The George Stronach Subdivision real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners right now are reluctant to sell for some reason which has created a lack of  home inventory for sale which in turn is keeping the George T Stronach Subdivision home sales strong and the prices up.      Residential Homes Sold In George T Stronach Subdivision in Nags Head NC From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     2     $4,260,000     $2,130,000     $2,130,000     117          Analysis By Area                   Nags Head Oceanside     2     $4,260,000     $2,130,000     $2,130,000     117                   Tot...
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By Greg Cremia
(Shore Realty of the Outer Banks)
The Southridge real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners right now are reluctant to sell for some reason which has created a lack of  home inventory for sale which in turn is keeping Southridge home sales strong and the prices up.      Residential Homes Sold In Southridge in Nags Head NC From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     2     $1,315,900     $657,950     $657,950     35                   Cash     1     $490,000     $490,000     $490,000     27          Analysis By Area                   Nags Head Westside     3     $1,805,900     $601,967     $654,900     32                 ...
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By Greg Cremia
(Shore Realty of the Outer Banks)
The Nags Head Shores real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners right now are reluctant to sell for some reason which has created a lack of  home inventory for sale which in turn is keeping Nags Head Shores home sales strong and the prices up.      Residential Homes Sold In Nags Head Shores in Nags Head NC From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     4     $3,810,776     $952,694     $859,500     56                   Cash     2     $1,075,500     $537,750     $537,750     5                   Owner Finance     1     $900,000     $900,000     $900,000     139          Analysis By Area    ...
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By Greg Cremia
(Shore Realty of the Outer Banks)
The Ocean Acres real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners right now are reluctant to sell for some reason which has created a lack of  home inventory for sale which in turn is keeping Ocean Acres home sales strong and the prices up.      Residential Homes Sold In Ocean Acres in Kill Devil Hills NC From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     3     $1,665,000     $555,000     $610,000     32                   Cash     1     $430,000     $430,000     $430,000     50          Analysis By Area                   Kill Devil Hills b/w Hwys     1     $635,000     $635,000     $635,000     3   ...
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The First Flight Village real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners right now are reluctant to sell for some reason which has created a lack of  home inventory for sale which in turn is keeping First Flight Village home sales strong and the prices up     Residential Homes Sold In First Flight Village in Kill Devil Hills NC From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     4     $2,033,300     $508,325     $499,150     33                   Cash     1     $320,000     $320,000     $320,000     8          Analysis By Area                   Kill Devil Hills Westside     5     $2,353,300     $470...
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By Greg Cremia
(Shore Realty of the Outer Banks)
The Avalon Beach real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners are reluctant to sell right now and the lack of inventory is keeping Avalon Beach homes sales strong and the prices up.    Residential Homes Sold In Avalon Beach in Kill devil Hills NC From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     6     $2,852,000     $475,333     $448,000     59                   VA     1     $412,500     $412,500     $412,500     72                   Cash     1     $525,000     $525,000     $525,000     27          Analysis By Area                   Kill Devil Hills b/w Hwys     1     $580,000     $580,000    ...
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