Review of the Outer Banks Real Estate Market
Both residential and land sales were up double digits in units compared to 2016.
However, inventory continues to decline.
- Sales increased 9% in units and 14% in sales volume
- The average sales price of $396,650 represents a 5% increase over last year
- The median sales price is now $320,000 (+7%)
- The Average Days on Market for all residential properties sold in 2017 (1,878) was 149 compared to 205 last year. Homes are selling faster!
- The Average Days on Market for residential properties listed and sold in 2017 (1,142) was an astonishing 56!
*As reported by the Outer Banks Association of Realtors for the period of 1/1/17 – 12/31/17 as of 1/8/18.