Outer Banks April 2012 MLS Report


Overall, sales have started their seasonal decline with sales declining by 21% from March; however, it appears that there may be good news on the horizon. Listings that have been placed under contract in April are up 24% from April 2011 and up 16% for the year.

YTD Sales

  • Overall – up 22% (664 units vs 543 units)
  • Residential – Up 14% (500 units vs 437 units)
  • Land – Up 55% (150 units vs 97 units)
  • Commercial – up 56% (14 units vs 9 units)

YTD Under Contract

  • Overall – up 16% (780 units vs 675 units)
  • Residential – up 8% (606 units vs 560 units)
  • Land – Up 39% (115 units vs 160 units)
  • Commercial – Up 100% (14 units vs 7 units)

Three Month Sale Data, over the last four months the best selling residential properties fell into the $200K to $299K range

 Price Range   $0 – $99K   $100K-$199K   $200K-$299K   $300K-$399K   $400K-$499K   $500K-$599K   $600K-$799K   $800K-$999K   ≥1M 
 Units Sold   34   103   126   74   58   34   32   20   19  
 Average Days on Market   348   180   229   257   311   283   325   227   258  

 

Inventory – Inventory has continued to declined by are relatively constant rate of 1% over the last 12 months with residential property inventory declining by 5% and commercial property inventory declining by 8%. Raw land inventory increased by 5% over April 2011 inventory.

This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of
REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by
the OBAR MLS is for its own use and may not reflect all real estate activity in the market.

To Read the entire Report, Please click on this link –  April 2012 OBX MLS Property Report!