Despite well below normal temperatures for all of January, the Outer Banks real estate market was hot. We saw an increase of 102% for residential sales, 82 sales in 2010 to 40 sales in January 2009. Distress sales, bank owned homes and short sales made up 40% of all sales. If January is any indicator of the coming spring, we are looking at a much improving real estate market.
January Real Estate Highlights
- 22 homes sold in the $300,000 - $399,000 price range
- $100,000 increase in residential median sold price
- An 11 percent decline in total inventory of homes
- Residential Sales doubled January 2009 to January 2010
For those considering selling their home. Spring is traditionally a strong time of year for real estate in the Outer Banks. For more information on selling your home - Selling your home in the Outer BanksPosted by Mike Bishal on