At the beginning of every month we get a status report that shows how the local real estate market is doing compared to previous years. Here are some key highlights from the April Status Report.
Overall – So far, the first four months of 2016 have not seen much change from 2015; however, realtors have reported to the MLS that they are busier then ever. What do the statistics show? Overall unit sales are up by 3 units but Total Volume Sold and Average Sale Price are up by 10%. Median sale price is up by 9% and total inventory is down 6%. The number of listings being placed under contract is still ahead of 2015 but by only 3% (932 units vs. 906 units). The details are listed below: o Residential sales – The bright spot in residential sales is condominiums. Condominium unit sales are up 22%, total volume sold is up 37% and the average sale price is up 12%. Single Family detached homes unit sales are down 3%, total volume sold is up 4% and the average sale price is up 7%. Residential inventory is down 6%. o Land Sales – Lot / Land sales are up 6%, total volume sold is up 21%, and average sale price is up 15%%. Lots / Land inventory is down 4%. o Distressed Properties – Unit sales of residential distressed properties are down 40% with only 37 units sold in 2016. Only 40 units have been foreclosed in Dare County during 2016 vs 59 in 2015.
As far are specific areas go, here is a little break down:
Corolla - both residential units and median sale prices are up
Duck - even though the number of residential units has dropped, sale prices are up 13%
FindOBXHomes.com is the home of your Full Service Outer Banks Real Estate Experts. We combine the latest in technology with exceptional personal service. We walk you through every step along the way from our first hello to closing day and beyond. Whether you are a first time buyer or a seasoned investor, our goal is to turn our first transaction into a lifelong relationship.
I thought this article written by Bob Sullivan for credit.com gives a
"You could not have a better person working for you then Kathleen Argiroff. She was so helpful finding us our second home. Every time I call her it has not long before we had what we needed back. It was so easily doing the whole process from start to finish."