How’s the market? The OBX Market is very good! Residential real estate is up in both units and dollars compared to the 1st Quarter of 2016. Although the Average Sales Price is at, the Median Sales Price has increased 5% year over year.

The story this year has been the shortened Days on Market. For all residential property sold in the 1st quarter, the Avg. Days on Market is 201. However, for residential property listed and sold since January 1, the Avg. Days on Market drops to only 50! We have seen property go under contract in under 5 days!

Quick Recap:

  • Average Days on the Market has dropped to only 50 days for properties listed and sold since January 2017.
  • Median Sales Price of all oceanfront homes sold increased slightly to $1,069,000
  • Single-family soundfront homes for sale have increased: 21 this year compared to 15 last year in 2016.
  • Median Sales Price was for soundfront single-family homes was $406,750 and the highest priced soundfront sold for $1,150,000 in the First Flight Run area of Kitty Hawk.
  • Condo/Townhouse are up in average sales price and median sales price.

See full report here: 2017 1st Q Market Report

See Q1 Albemarle Market Report: Albemarle Q1 2017

 

 

 

 

 

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