September 2013 Outer Banks Market Report

outer banks realtor picSeptember 2013 MLS Statistical Report

Summary – Overall, the statistics for the last several months have shown little change in the sale of listings on the Outer Banks. Residential sales are down by 1% and Lots / Land sales are up by 6%. However, one of the surprising statistics is that Commercial sales are up by 32% for the year.

Of particular note is that the number of listings placed under contract in September. Under Contracts were up 39% when compared with September 2012 and up 66% from July 2013. Although the shutdown of the federal government may impact the ability of these properties to close in October, the statistics indicate that the buyers are out there and they are ready to buy.

The details are listed below:

  • YTD Sales – Units Overall – Up 1% (1582 units vs 1565 units) Residential – Down 1% (1206 units vs 1216 units) Land – Up 6% (350 units vs 330 units) Commercial – Up 32% (25 units vs 19 units)
  • YTD Under Contract Overall – Down 5% (1661 units vs 1741 units) Residential – Down 7% (1283 units vs 1378 units) Land – Up 5% (353 units vs 339 units) Commercial – Up 4% (25 units vs 24 units)
  • Year to Date Sales Data, a review of the year-to-date data shows that more homes were sold in the $200K to $299K range and had an average Day’s on the Market (DOM) of 209 days.

Above information is supplied by the Outer Banks Association of REALTORS(r) 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.