OBX Real Estate

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 Banks