November 2013 MLS Statistical Report
Summary – In November, a REALTOR®Magazine article – Short Sales Lose Favor With Lenders? – reports that the number of short sales has been gradually dropping and that short sales were down across the nation – 11.2% from one year ago and 5.3% from the previous month. When you look at the OBAR statistics for November you will find that short sales on the Outer Banks are following, if not exceeding, this trend. Year to Year Short sales are down 26%. Foreclosure sales have also declined – down by 19%.
Sales – After a brief surge in September and October, sales have started their seasonal decline; however, for the year, overall sales are only down by 1% from 2012 – with residential sales down by 3%, lots / land sales up by 7% and commercial sales down by 3%.
Check out the year to date sales data below:
| Price Range | $0 – $99K | $100K-$199K | $200K-$299K | $300K-$399K | $400K-$499K | $500K-$599K | $600K-$799K | $800K-$999K | ≥1M |
| Units Sold | 107 | 321 | 376 | 245 | 138 | 90 | 68 | 47 | 45 |
| Average Days on Market | 189 | 177 | 211 | 229 | 278 | 310 | 268 | 249 | 338 |
Inventory
| Price Range | Number of Listings | Average Days on Market | Price Range | Number of Listings | Average Days on Market |
| $1 – $99,999 | 83 | 186 | $600K – $699K | 118 | 253 |
| $100K – $199K | 238 | 213 | $700K – $799K | 65 | 273 |
| $200K – $299K | 406 | 237 | $800K-$899K | 57 | 191 |
| $300K – $399K | 317 | 234 | $900K-$999K | 51 | 236 |
| $400K – $499K | 215 | 249 | >$1M | 137 | 330 |
| $500K – $599K 169 | 257 | ||||
Year to Date Comparison – Residential Property |
||||||||
| Qty Sold | % Chg | Volume Sold | % Chg | Average Sale | % Chg | Median Sale | % Chg | |
| Single Family Detached | ||||||||
| Current Period | 1257 | $466,212,955 | $370,893 | $290,000 | ||||
| One year Ago | 1286 | $500,310,888 | $389,044 | $300,000 | ||||
| Increase / (Decrease) | (29) | -2% | ($34,097,933) | -7% | ($18,151) | -5% | ($10,000) | -3% |
| Condominium | ||||||||
| Current Period | 111 | $25,221,341 | $227,219 | $192,000 | ||||
| One Year Ago | 132 | $28,958,500 | $219,382 | $202,525 | ||||
| Increase / (Decrease) | (21) | -16% | ($3,737,159) | -13% | $7,837 | 4% | ($10,525) | -5% |
| All Residential | ||||||||
| Current Period | 1436 | $500,089,850 | $348,251 | $274,500 | ||||
| One Year Ago | 1485 | $537,417,471 | $361,897 | $284,500 | ||||
| Increase / (Decrease) | (49) | -3% | ($37,327,621) | -7% | ($13,646) | -4% | ($10,000) | -4% |
All above information is from the Outer Banks Association of REALTORS (R).
