2015 February Sale Stats for the Outer Banks

Outer Banks Assocation of RealtorsWith a couple months into 2015, housing sales started a little strong. However, when the weather turned cold and snowy, sales predictably went south (who wouldn’t to find warmer temps!). But overall, the AVERAGE sales were up 6% over last year.

ON THE AVERAGE Residential Sales for single family homes were up 7% with 178 properties sold in January & February. Sales last year were only 166 properties. Condo sales were down 58%.

Lot sales were up 29% over last year.

Residential inventory has increased 5%; lot inventory is down 9% and commercial inventory is down 10% over last year.

Foreclosures are still declining with only 25 properties foreclosed. In 2014, there were 40 and in 2013 there were 68.

Distressed Properties (short sales) shot up 140% over last year. This is certainly something I’ll be watching.

That’s where I come in to help with the sale or purchase of your home on the Outer Banks. Call me today and I will show you what it takes to get your home SOLD or BOUGHT on the Outer Banks!!

The median residential home price on the Outer Banks is $315,000 up 15% over last year. The average price for a home currently is $357,747, down 4% from last year. Each community differs  to some degree. The best thing is to contact me to see how your home compares to others already on the market and have recently sold.
 *Median Sale Price *Median Sale PriceDifference between 2013 and 2014
Corolla2014$440,000.002015 YTD$505,5508%
Duck2014$511,250.002015 YTD$400,000.00-22%
Southern Shores2014$430,000.002015 YTD$315,000.00-27%
Kitty Hawk2014$285,000.002015 YTD$305,000.006%
Colington2014$214,000.002015 YTD$295,000.0038%
Kill Devil Hills2014$239,000.002015 YTD$215,000.00-10%
Nags Head2014$350,000.002015 YTD$394,500.0013%
Hatteras Island2014$260,000.002015 YTD$324,500.0023%
Roanoke Island2014$260,000.002015 YTD$272,500.005%
Currituck Mainland2014$210,000.002015 YTD$165,250.00-21%
*Median Sale Price is the middle price in a range of property sales. And 2014 figures are YTD.
Median Home Price Changes by Community

Data Obtained from the Outer Banks Association of REALTORS(R): March 7, 2015