2019 OBX MARKET REPORT

Dare County and Currituck County

Let’s take a look at the Outer Banks real estate market in 2019.

Last year was a busy one for buyers and sellers of single-family homes on Outer Banks. Both units and sales volume have increased in 2019 (+8% and +7% respectively). It took an average of 120 days to sell a single-family home on the Outer Banks last year. However, the average sales price remained almost the same (-1%).

Single-Family Homes Sales by Area:With only 227 condos and townhomes sold last year (-8%), the average sales price went 10% up and fully recovered from the previous year’s 6% drop. It also took only 100 days to sell a townhome or condo last year (24% less time than in 2018!). It means that there were quite a few buyers who were looking for OBX townhome or condominium in 2019.

Condos and Townhomes Sales by Area:After a soaring 19% growth of residential land average sales price in 2018, the average sales price rolled 10% back last year and stopped right below $124,000. The median sales price of a vacant lot in Dare and Currituck County went down to $85,000 (-11%) in 2019.

Residential Vacant Land Sales by Area:The average days on market indicator (DOM) still remains a good sign for OBX real estate market. It took an average of 10 to 32 fewer days for a residential property to go under contract and close in 2019.

There is a good chance that 2020 will become another active and thriving year for the Outer Banks real estate market!

 

 

 

 

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