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OBX MARKET 2024:
Long-awaited beach days have finally arrived along the Outer Banks! Visitor traffic is increasing, and retailers and restaurants are getting busy again. Now is also the time of year when some of my favorite events return. Don't miss the 35th annual Artrageous Kids Art Festival on May 11th at Dowdy Park. And if you want something active, the 38th annual Nags Head Woods 5k is also coming on Mother's Day weekend! Check out our link to events included below to find something just right.
Many of the wintertime construction projects in the area are nearing completion now. The Duck Shoreline Resiliency Project is ongoing, however. If you are going to Duck or passing through Duck, you will want to allow extra time. Only one lane of Duck Road is open, and the traffic back-ups can be lengthy.
The Corolla Wild Horse Fund announces the birth of Ezra, the third foal to be born in 2024. He is chestnut in color and has a star on his head. The Corolla Wild Horse Fund wants to remind us to stay 50 feet or more away from wild horses and not feed them. If you want to learn more or donate, you can visit their website at www.corollawildhorses.com.
In real estate news, inventory continues to increase slightly. In most towns, inventory is still very low. Buyer activity is also slower. Housing affordability and higher interest rates continue to impact the market. Please ask if you have questions about any specific property or your property. I am happy to help. Each town is a little different, and here is the breakdown for this month town by town:
4x4 Area:
22 homes for sale (up by 4)
5 homes are under contract (down by 3)
16 homes have sold year-to-date
$959,800 has been the average sale price
The average sale is at 93% of asking price
The average days on the market have been 74
Corolla:
96 homes for sale (down by 7)
46 homes are under contract (up by 5)
96 homes have sold year-to-date
$1,124,572 has been the average sale price
The average sale is at 95% of asking price
The average days on the market have been 53
Duck:
28 homes for sale (up by 6)
10 homes are under contract (down by 4)
35 homes have sold year-to-date
$1,198,939 has been the average sale price
The average sale is at 98% of asking price
The average days on the market have been 39
Southern Shores:
15 homes for sale (up by 4)
12 homes are under contract (up by 6)
19 homes have sold year-to-date
Average sale price was $1,309,548
The sale price was 89% of the asking price
The average days on the market were 29
Martins Point:
5 homes for sale (up by 1)
0 homes under contract
1 home has sold year to date
Sale price was $900,000
It sold at 90% of original asking price
It was on the market for 109 days
Kitty Hawk:
20 homes are for sale (up by 2)
13 homes are under contract (up by 3)
30 homes have sold year-to-date
$623,208 has been the average sale price
The average sale is at 94% of asking price
The average days on the market have been 41
Kill Devil Hills:
73 homes for sale (down by 8)
43 homes are under contract (down by 2)
101 homes have sold year-to-date
$624,525 has been the average sale price
The average sale is at 94% of asking price
The average days on the market have been 56
Nags Head:
53 homes for sale (up by 5)
15 homes are under contract (down by 1)
38 homes have sold year-to-date
$902,992 has been the average sale price
The average sale is at 94% of asking price
The average days on the market have been 53
Manteo:
30 homes for sale (up by 4)
13 homes are under contract (up by 2)
18 homes have sold year-to-date
$567,888 has been the average sale price
The average sale is at 95% of asking price
Average days on the market have been 50
Colington Areas:
29 homes for sale (up by 6)
8 homes are under contract (down by 6)
22 homes have sold year-to-date
$479,731 has been the average sale price
The average sale is at 94% of asking price
Days on the market 58
Hatteras Island:
112 homes for sale (up by 22)
33 homes are under contract (down by 14)
85 homes have sold year-to-date
$672,945 has been the average sale price
The average sale is at 94% of asking price
The average days on the market have been 76
As always, if you have any questions please don't hesitate to ask!
If you have any questions about buying or selling on the Outer Banks we want to help! We love hearing from our clients! The market is constantly changing and you need the expertise we can provide on your side!
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