Residential sales
- Residential sales for the year are up slightly (1%)
- Condominium unit sales are up 19% with total volume sold up 22%.
- Condominium median sales price are up 16%.
- Single Family detached home sales are down by 4%
- The number of sold Single Family homes is up 3% with the average / median sale prices up (7% and 2%).
Lots / Land sales
- Lots / Land sales are on the rise with the sale of residential lots up 13% for the year
- Total number of lots sold is up 5%.
Inventory
- Residential inventory is up 8%
- Land inventory is up 7%
- Commercial inventory is down by 2%.
Distressed Sales / Foreclosures
Last month the MLS reported a slight increase in the number of properties going into foreclosure. During October, the number of properties entering foreclosure took a dramatic downward turn. Will this trend continue?
The Holidays start next week and there’s nothing like coming home for the Holidays! But if you believe buying a home this time of year stops or is taboo, you are mistaken – there are homes currently listed on the Outer Banks and are selling!
** 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.
