Current Market Commentary March 2012:  

It's on!!! The Outer Banks real estate market is red hot with 2012 is shaping up to be the breakout year for the market with overall sales up 25% and the average sales price is up 6.1% from 2011's 5.5% increase. Since the market bottomed out at the end of 2009 the average sold price is up 11.6%. The market has seen strong sales among all price ranges and buyers are still out in full force. March's sales was the best since October of 2005. Distressed property sales have fallen 25% since 2011 leveling out the market competition and giving sellers an opportunity get true market value for their property. The Outer Banks is receiving national attention in the latest addition of the Robb Report's Exceptional Properties magazine.  During her research, the writer found out the Outer Banks is one of the best real estate markets to invest in due to the fact that prices are rebounding and rentals are so strong. I was honored to be contacted and interviewed for this article titled "Reasons to have a home in the Outer Banks".

The number of active listings is back to our "normal" range with the absorption rate at its lowest lever since 2007.  Rates are holding steady around 4% with 20% down for a 30yr fixed mortgage. Jumbo loans are also close to all time low's making it more affordable than ever to own a beach house.  The competition among buyers to get the best houses is heating up. Buy now and get almost 100% of 2012 rental income with only 7 months or less of expenses!!

Outer Banks Real Estate Market Statistics 

For those of you that love numbers this page on the website is dedicated to you!!Check back each month for the latest stats on the Outer Banks Real Estate Market. Due to recent additions of areas outside of the Outer Banks being added to the OBAR MLS the information below has been adjusted to reflect only data from the Outer Banks. The areas reflected in the numbers are the 4-wheel drive area south to Hatteras and Pirates Cove in Manteo. The stats are for residential properties including condo's and townhomes. Land and Commercial are not included.   

Sold Listings 01/01/2012 to 3/31/2012

Sold Listings 01/01/2011 to 12/31/2011

Sold Listings 01/01/2010 to 12/31/2010

Sold Listings 01/01/2009 to 12/31/2009

 

 Sold Listings 01/01/2008 to 12/31/2008
 

Sold Listings 01/01/2007 to 12/31/2007
 

Sold Listings -1/01/2006 to 12/31/2006

 

  *** All information obtained from the Outer Banks Association of Realtors***
***All information is deemed reliable but not guaranteed***
 

 Matthew Huband -Broker/Owner
NAR Certified Short Sale & Foreclosure Resource
252-255-0221-Office
PO Box 2223 Kitty Hawk, NC 27949
OBXRealtors@gmail.com
NC License #223529

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