May 2014 Sales on the Outer Banks

Sales – May was a great month for sales with unit sales up 21%! Total volume sold was up 14%! Commercial property sales volume was up 210% over last year. However, residential unit sales were down by 7% and land sales were down by 30%. Sales Price – Home prices continue to climb with an average price for residential property up by 13%, Lots / Land up by 40% and Commercial up by 64%. Distressed Sales – Even though distressed numbers continue to inch upwards this year, they are down by 44% from 2013 - the average sales price for a potential short sale is down 13% -- bank owned properties’ … [Read more...]