Distress sales are made up of foreclosures and short sales. For the month of November of the Outer Banks we saw, distress sales make up 27% of the total sales. 17 foreclosed homes were sold in the month of November, along with 10 short sales for a total of 27 transactions. This was down from distress homes being 34% of the total sales in the month of October.
In the market as a whole we saw, 100 residential homes in the Outer Banks sold. The sold homes data for November was an increase of 5 and 3 units from September and October of this year. Another strong sign is, we saw an additional 42 homes sold this November, when compared to November a year ago. Such a large increase bodes well for the strengthening of the Outer Banks real estate market as we head into the traditionally strong spring buying season.
Posted by Mike Bishal on
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