Here are some interesting statistics on the Outer Banks luxury homes market.  I used the figure of $1,000,000 to define a luxury home.  Here is what is available on the Outer Banks MLS.

Available Outer Banks Luxury Homes

 $1,000,000 or more  272
 $1,250,000 or more  214
 $1,500,000 or more  146
 $1,750,000 or more
 78
 $2,000,000 or more
 33
 $3,000,000 or more
 15
 $3,500,000 or more
 12

 

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In our effort to keep you up to date with Outer Banks foreclosures, we bring you this report on the current status of available Nags Head foreclosures. Currently in Nags Head we are tracking 4 available forecloses. The prices range from $208,000 to $1,975,000. The current foreclosed homes are a 3 bedroom, 4 bedroom and 2 8 bedroom homes.  I would recommend taking a look at the available foreclosures. If you would like more information on the available foreclosures, email Dawn.


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Currently we are following 33 available foreclosures on the Outer Banks.  Prices range from $69,900 for a 1 bedroom home in Wanchese to a $1,975,000 oceanfront home in Nags Head.  In 2009 we have seen foreclosed homes go under contract in as few as 17 days. 

The median days on the market for sold Outer Banks foreclosures in 2009 has been 105 days.  This number has been falling as we are seeing foreclosures come on the market priced well below tax value.  If you are looking to invest in an Outer Banks home, now is an excellent time.  Foreclosures can make excellent long term investments. 

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Below are the sold homes in Kitty Hawk in the 3rd quarter of 2009, July 1, 2009 to September 30, 2009.  The table below shows the sold home's address, original price, selling price and days on the market.

 

Kitty Hawk Homes for Sale

 

Kitty Hawk 3rd Quarter Sold Homes

 

 Condo
                          Kitty Hawk Westside
    2401  Neptune Way $219,000 $187,500 86% 229
    804  Angler Way $180,000 $165,000 92% 137
  Totals   $399,000 $352,500 88% 183
        Single Family - Detached
                          Kitty Hawk between Hwys
    4724  N Virginia Dare Trail $529,000 $459,000 87% 383
    3621  Goosander Street $399,000

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Below you will find the sold homes in Kill Devil Hills from July 1, 2009 to September 30, 2009.  A total of 62 homes were sold in the 3rd quarter.  

 

In the 1st table you will find an analysis by area.  Kill Devil Hills is broken into 3 areas.  Oceanside, between the highways (158 and 12), and westside of US-158.  The 2nd table splits the homes into type, address, original price, sold price, and days on the market.

Search Current Kill Devil Hills Homes for Sale

 

Analysis by Area in Kill Devil Hills
Kill Devil Hills Oceansde   2 $785,000 $392,500 $392,500 99
Kill Devil Hills b/w Hwys   15 $4,086,600 $272,440 $252,500 174
Kill Devil Hills Westside   45 $9,248,501 $205,522

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Below is the sold homes for the 3rd Quarter - July 1, 2009 to September 30, 2009. We saw 22 homes sold in Corolla in that time period. The table below is by address, original price, sold price and finally days on the market.

Current Corolla Homes for Sale

Single Family - Detached
Corolla Oceanside
    778 Meeting Street $665,000 $518,000 78% 720
    149 Salt House Road $2,550,000 $1,720,580 67% 508
    954 Whalehead Drive $645,000 $585,000 91% 384
    766 Sunrise Court $499,000 $385,000 77% 281
    606 Schooner Ridge $539,000 $497,500 92% 143
    607 Wave Arch Court $1,325,000 $1,215,000

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Below you will find the sold homes in Duck from July 1, 2009 to September 30,2009.  The graph is as follows: Type of Home, Address, Original Price, Sale Price and Days on the Market.

Search Duck Homes for Sale

Condo
Duck Oceanside
    117-D328 Sea Colony Drive $299,000 $275,000 92% 42
  Totals   $299,000 $275,000 92% 42
Single Family - Detached
Duck Oceanside
    102 Ships Wheel Court $949,000 $820,000 86% 544
    120 Blue Heron Lane $859,900 $660,000 77% 349
    159 Schooner Ridge Drive $1,400,000 $1,010,000 72% 331
    102 Skimmer Way $425,000 $280,000 66% 271

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We are continuing to see strong sales of distressed homes.  Distressed homes are those that are short sales or bank owned.  (The final phase of foreclosure is the bank taking possession, after they take possession they need to sell.  Often this can lead to great opportunities for those looking to buy a foreclosed home.)  In September we saw distressed homes account for 25% of all sold homes on the Outer Banks.  Of the 95 homes sold, 17 were bank owned and 7 were short sales.   

When we see such a high percentage of distressed home sales, it lets us know there are still significant opportunities available for those who are looking to buy a home in the Outer Banks.  If you are interested in buying a foreclosure or short sale in the Outer Banks, join our…

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September on the Outer Banks saw 95 residential homes sold.  This was down 3 from the month of August.  When compared to the month of August we saw less homes sold, but more pieces of land.  The month of September ended up having 2 more sales that August due to the number of closings on vacant land. 

While under 100 homes sold in September it does seem as if there are a number of people interested inpurchasing homes in the Outer Banks.  Hopefully a strong October is to follow to keep the progress of the last 5 months going.  It does seem as if home prices are starting to stabilize along the OBX.   

 

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Just spoke with a fellow agent who has a client that is looking to to give away a Outer Banks home. The home does have to be moved off the property, but if you move it...its yours. For more information email Dawn - Dawn@seasiderealty.com

 

 free_outer_banks_home

 

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