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Market Matters: September & October

19 Oct 2018
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Real Estate Sales

Currently there are 2,386 (all) active properties for sale in our MLS area.
1,553 – Residential
773 – Land
60 – Commercial
There are 334 properties in under contract status. This statistic represents 12.2% of all active and under contract properties.

View Outer Banks Real Estate

How Florence Affected the Market

Inventory is up 3% since the end of August. September usually brings an uptick in new listings but Florence kept those numbers down to a total of 269 new listings for the month. By comparison, it is mid-way through October now and there have been 262 new listings indicating it will be a strong month for new inventory. Corolla showed a strong increase in new inventory and the absorption rate jumped from 12 to 19 months. Kitty Hawk and Kill Devil Hills both have swift and steady markets.

In the three month period used for the chart below, Kitty Hawk enjoyed 31 new sales and 45% of those sales sold in thirty days or less. Corolla had 45 sales but only 15% of those sales sold within the first 30 days of being on the market. On average homes in Corolla sold for 94.41% of asking price. (The list price to sold price in “All Areas” is 95.78%). Homes are selling in Corolla – and if your home is in good condition and well maintained it will sell.

RESIDENTIAL PROPERTIES ONLY

All types (includes single-family, condo & townhomes)
Date range: July 19, 2018 to October 19, 2018
Town Note: statistics include all areas of each town except the 4-wheel drive only area is excluded from Corolla

If you are interested in selling your home, talk to a Beach Realty professional first. Contact your Beach agent today.  Not sure who your agent is?  Give us a call at 877-621-3815, or send an email at  salesinfo@beachrealtync.com and we will get you in touch with your Beach agent. 

Read Last Month's Analysis Here