The Outer Banks real estate market has seen a tick to the upside. Through February on the Outer Banks MLS we have seen an increase in both residential and land sales.  These numbers are especially encouraging considering we are going into spring, which is normally the busiest time of the year for real estate on the Outer Banks.

We are continuing to find a number of available foreclosures and short sales.  Bank owned properties are currently making up about 12% of the total inventory.  The number of sold foreclosures has fallen while we have seen an increase in sold short sales.  

The real estate trend for 2012 is definitely to the upside.  We will have to wait for the spring numbers to come in to see if a trend is developing.  For those looking to invest in real estate on the Outer Banks there continues to be excellent opportunities.  


Posted by Mike Bishal on
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