Often analyzing a market can help you find the best areas for opportunity. May was a strong month for the Outer Banks real estate market, 95 residential properties were sold for a total of $36,059,099. There was a wide disparity on how long those properties were on the market. The shortest time a home was on the market was 21 days to a long of 1115 days with an average length of 197 days. (For those looking to sell, it is on average a little longer than 6 month process from listing to sale) The list to sale price has been trending close and closer and this month the average difference was only $35,978.
Some Interesting Points in the OBX MLS Statistics
- 15.78% of all buyers paid cash
- Colington Harbour Homes average only 91 Days on Market
- Kill Devil Hills Westside had the most sold homes with 14
- Duck Oceanside homes accounted for highest dollar volume
May 2009 Outer Banks MLS Sold Statistics
| No. of Listings | Dollar Volume | Average Price | Median Price | Average DOM | ||
| RESIDENTIAL | ||||||
| Other | 2 | $859,963 | $429,982 | $429,982 | 377 | |
| Conventional | 66 | $27,695,636 | $419,631 | $306,500 | 216 | |
| FHA | 8 | $1,813,500 | $226,688 | $199,950 | 134 | |
| VA | 2 | $502,500 | $251,250 | $251,250 | 208 | |
| Cash | 15 | $4,671,500 | $311,433 | $210,000 | 122 | |
| Owner Finance | 2 | $516,000 | $258,000 | $258,000 | 184 | |
Analysis by Area | ||||||
| 4-Wheel Drive Area | 1 | $390,000 | $390,000 | $390,000 | 569 | |
| Corolla Oceanside | 3 | $2,017,500 | $672,500 | $530,000 | 196 | |
| Corolla Westside | 5 | $2,726,785 | $545,357 | $520,000 | 316 | |
| Pt. Harbor to Powells Pt. | 1 | $299,000 | $299,000 | $299,000 | 91 | |
| Jarvisburg to Poplar Br. | 6 | $1,333,400 | $222,233 | $226,500 | 190 | |
| Aydlett to Barco | 1 | $224,900 | $224,900 | $224,900 | 100 | |
| Maple to Moyock | 1 | $170,150 | $170,150 | $170,150 | 47 | |
| Duck Oceanside | 7 | $4,970,000 | $710,000 | $480,000 | 193 | |
| Southern Shores Westside | 4 | $1,570,000 | $392,500 | $387,500 | 164 | |
| Martins Point | 2 | $1,590,000 | $795,000 | $795,000 | 398 | |
| Kitty Hawk between Hwys | 2 | $1,360,000 | $680,000 | $680,000 | 249 | |
| Kitty Hawk Westside | 4 | $981,750 | $245,438 | $254,650 | 133 | |
| Kill Devil Hills b/w Hwys | 3 | $696,000 | $232,000 | $216,000 | 296 | |
| Kill Devil Hills Westside | 14 | $2,947,650 | $210,546 | $207,500 | 113 | |
| Colington Harbour | 6 | $1,833,500 | $305,583 | $262,000 | 71 | |
| Colington | 2 | $271,000 | $135,500 | $135,500 | 219 | |
| Nags Head Oceanside | 4 | $2,217,000 | $554,250 | $395,000 | 231 | |
| Nags Head between hwys | 3 | $1,955,000 | $651,667 | $650,000 | 115 | |
| S. N.H. West/Old Oregon R | 1 | $325,000 | $325,000 | $325,000 | 122 | |
| Nags Head Westside | 5 | $1,520,650 | $304,130 | $240,000 | 235 | |
| Rodanthe Oceanside | 1 | $525,000 | $525,000 | $525,000 | 111 | |
| Waves Oceanside | 2 | $1,195,000 | $597,500 | $597,500 | 268 | |
| Salvo Oceanside | 3 | $1,060,120 | $353,373 | $310,120 | 208 | |
| Salvo Soundside | 2 | $895,000 | $447,500 | $447,500 | 332 | |
| Avon Oceanside | 1 | $480,000 | $480,000 | $480,000 | 211 | |
| Avon Soundside | 3 | $640,000 | $213,333 | $230,000 | 157 | |
| Buxton Oceanside | 1 | $220,000 | $220,000 | $220,000 | 1,115 | |
| Frisco Oceanside | 2 | $517,000 | $258,500 | $258,500 | 138 | |
| Manteo-S. of Airport Road | 3 | $667,694 | $222,565 | $220,194 | 141 | |
| Ocracoke | 1 | $250,000 | $250,000 | $250,000 | 336 | |
| Tyrrell County | 1 | $210,000 | $210,000 | $210,000 | 75 | |
| Totals | 95 | $36,059,099 | $379,569 | $280,000 | 197 | |
| Non Co-op Sales | 22 | $6,780,750 | $308,216 | $244,000 | 234 | |
| Co-op Sales | 73 | $29,278,349 | $401,073 | $299,000 | 185 | |
| All Sold Listings | 95 | $36,059,099 | $379,569 | $280,000 | 197 | |
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