Current Market Commentary January 2012:  

The Outer Banks real estate market continues to build on the momentum of 2011 with 2012 off to a roaring start!! The numbers are in for January and what a January it was!! Prices continue to rise, up 3.5% from 2011's 5.5% increase, Sales were up 17% from January 2011 and that's not even the most impressive stat. Two stats really blew me away and is an indication that the Outer Banks market is officially back. 1) The number of houses put under contract, up 38% from a year ago, that's huge  2) The number of distressed property sales dropped 20% from 2011!! Normally we don't see under contract numbers this large until March and April. Buyers know that prices are going up and the best houses are selling quick. For the first time since 2005-06 I have seen listings hit the market and sell within 30 to 90 days ( I am not just talking about foreclosures). The number of active listings continued to drop another 6% from this time last year marking a 25% total reduction in active listings from 2008. This brings our market back to the top of our "normal" range of active listings.  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 9 months or less of expenses!!

2011 was the beginning of the next up cycle in the Outer Banks real estate market and all signs point to 2012 moving even higher.

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 12/31/2012

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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