Here are the latest OBX Real Estate Stats. The Outer Banks real estate market started off 2024 at a slow pace for sales however prices are up 4% from 2023. The market is certainly feeling the effects of high interest rates with the number of sales down 4% from 2023.  The rise in rates has buyers on the sidelines as they await the FED to lower rates. Inventory is still very low as those that bought while interest rates where 2-4%, are holding on to their properties.  The one bright spot for buyers is we are starting to see more price reductions and negotiations take place.  While the buyer pool is drastically lower there are still those looking to invest in the Outer Banks, especially cash buyers, representing approx. 30% of all sales.

The big questions as we move into 2024 are 1) Will prices drop, maintain or rise, 2) How long will it take for inventory to get back to normal levels, 3) When will interest rates drop to 6% or below?? Most of my lenders are telling me that we are done with rising interest rates and by summer/fall 2024 we could see rates close to 6%.  At this point I don’t see a huge price correction coming like 2008 when prices dropped 40%.  With so many buyers on the sidelines if rates do drop, I see buyers coming back in force which should keep prices level or rise next year. Inventory could take another 12-18 months to recover to normal levels if the buyers do show back up. Long term the market outlook is still very positive. Each year so many first-time visitors discover the Outer Banks, creating a new set of homebuyers, that will keep the market moving for years to come. Whether you are looking for a 2nd home, investment, primary, or retirement property there is a property out there for you.

If you are a seller, it’s still a great time to sell!! If you have a house to sell or know anyone that wants to sell now is the time. You may be surprised at what you can get for your property, and it does not cost you anything to list. Find out what I can sell your property for with a Free Home Valuation. If you are a buyer that wants to stay up to date on the market sign up for free Market Report for the town you are interested in. The Market Report is emailed to you each week with new listings, sold listings, and price changes. You can also sign up for a Listing Manager account where you can set your own search parameters for the properties you are interested in.

Since 2003 Matt ranks in the top 7% of all Realtors on the Outer Banks in total sales volume and number of houses sold. Contact Matt today to get the process started to find your Outer Banks property.

Disclaimer: This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by the OBAR MLS is for its own use and may not reflect all real estate activity in the market. Data provided from 2003 to 2024

For those of you that love numbers this page is for you!! Check back each month for the latest stats on the Outer Banks Real Estate Market. The information below is for the towns of Corolla, Duck, Southern Shores, Kitty Hawk, Kill Devil Hills, Nags Head, Rodanthe, Waves, Salvo, Avon, Buxton, Frisco, Hatteras, and Pirates Cove. The stats are for single family residential properties, condo’s, and townhouses. Land and commercial properties are NOT included in these stats.

Disclaimer: This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by the OBAR MLS is for its own use and may not reflect all real estate activity in the market. Data provided from 2003 to 2024