Mid-Year Market Report

The Outer Banks real estate market continues to be as hot as the weather! According to the Outer Banks Association of Realtors, June was the best month for units sold since October of 2005.

Residential sales are up double digits in both units (+18%) and dollars (+21%) and the Average Days on Market is 167, down from 201 last year. Properties are staying on the market for a shorter period of time and for property listed and sold since January 1, the Average DOM drops to 37.

Outer Banks Market Report Highlights (all counties):

  • The Average Sales Price ($392,894) for all residential sales is up 3% and the Median Sales Price of $300,000 represents a 4% increase over the same period last year
  • Single Family had the highest increases – over 20% in both units & dollars
  • Condos & Townhomes increased more modestly: 5% increase in units and 7% in dollars
  • Land sales were up in units, dollars, and Average Sales price

More Market Highlights:

  • Corolla had the most oceanfront sales (11), followed by South Nags Head (10) and Duck (9)
  • Kill Devil Hills (115), Colington (109) and Currituck Mainland (119) had the shortest Average Days on Market
  • The 4-Wheel Drive Area had the highest Average Sales Price of $648,966 followed by Duck with $646,178 and Corolla $616,547
  • The highest single-family sale of the year was an oceanfront in Sothern Shores which sold for $2,900,000

See full report by  here: 2017 Mid Year Market Report