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Have you heard that the Outer Banks is a “shore” bet?

#1 Beach desitnation“From the sea to the sound, this North Carolina vacation spot packs plenty of fun.” ~ New York Post

Well, the secret’s out – according to the New York Post, “The Outer Banks is a shore bet”.

Another great article and all so true!! Jennifer Ceaser did a fantastic job writing about all the great and fun things to do on the Outer Banks – and did I mention, it was in the New York Post?

With summer half over or so, we may not feel the impact on our season this year, but it could bring more tourists and vacationers in the future years.

What has been going on with our real estate market on the Outer Banks for June?

The market is down. But that is not unusual because it’s summer on the Outer Banks and everyone is focused on having fun in the sun and on our beaches.

YTD Sales – Units

  • Overall – Down 3% (1027 units vs 1061 units)
  • Residential – Down 4% (786 units vs 821 units)
  • Land – Up 3% (231 units vs 224 units)
  • Commercial – Down 25% (12 units vs 16 units)

YTD Under Contract

  • Overall – Not significant (1178 units vs 1172 units)
  • Residential – Down 1% (908 units vs 920 units)
  • Land – Up 6% (251 units vs 237 units)
  • Commercial – Up 27% (19 units vs 15 units)


This chart shows how many homes are listed in different sales bracket. Don’t know which one yours may fall into? That’s where I can help you find out – give me a call and we can go over the numbers.

Price Range $0 – $99K $100K-
$199K
$200K-
$299K
$300K-
$399K
$400K-
$499K
$500K-
$599K
$600K-
$799K
$800K-
$999K
≥1M
Units Sold 57 178 194 135 80 53 34 28 25
Average Days on Market 160 173 209 229 255 290 316 266 344


The chart below outlines different home sale brackets, number of homes and how many days the average home on the Outer Banks took to get to pending. Homes are selling.

Price Range Number of Listings Average Days on Market Price Range Number of Listings Average Days on Market
$1 – $99,999 80 204 $600K – $699K 101 247
$100K – $199K 242 208 $700K – $799K 78 239
$200K – $299K 419 224 $800K-
$899K
43 238
$300K – $399K 333 211 $900K-
$999K
35 213
$400K – $499K 215 282 >$1M 146 280
$500K – $599K 172 281


The chart below shows the number of homes (single family and condo) sold so far on the Outer Bank this year. It shows the single family homes are not that far behind from last year’s numbers. However, it does show how much condo sales have decreased in sames amount and volume. There are some great homes already listed on the Outer Banks right now and others soon to be listed.

Year to Date Comparison – Residential Property
Qty Sold %
Chg
Volume Sold %
Chg
Average Sale %
Chg
Median Sale %
Chg
Single Family Detached
Current Period 702 $262,119,704 $373,389 $295,000
One year Ago 712 $288,315,330 $404,937 $303,500
Increase / (Decrease) -10 -1% ($26,195,626) -9% ($31,548) -8% ($8,500) -3%
Condominium
Current Period 50 $10,119,941 $202,398 $170,500
One Year Ago 76 $17,119,950 $225,262 $215,000
Increase / (Decrease) -26 -34% ($7,000,009) -41% ($22,864) -10% ($44,500) -21%
All Residential
Current Period 786 $276,179,412 $351,373 $279,500
One Year Ago 821 $310,164,543 $377,788 $285,750
Increase / (Decrease) -35 -4% ($33,985,131) -11% ($26,415) -7% ($6,250) -2%

Sales numbers may look dismal in the negative numbers, but on the upside, this IS the perfect time to purchase your summer vacation home or investment property. With the number of tourists and vacationers going to come to the Outer Banks, why not spend your time this summer getting ready for them?

Call me today and I will show you some great homes on the Outer Banks!

Click HERE for the full report from the Outer Banks Realtor (r) Association