Outer Banks Real Estate Report – January 2017 MLS

Outer Banks Real Estate Report -Jan 2017 MLS

 

 

 

 

 

 

 

 

 

 

Summary

  • Overall – Sales for January 2017 look to be on par with 2016; however, the statistic to keep an eye onis listings that are under contract. At 231 units under contract, this is the highest number of listings that have been placed under contract in the month of January since 2006 when 263 listings were under contract.
  • Inventory – Residential inventory is down by 9% (1454 units), Land inventory is down by 16% (764 units) and Commercial inventory is down by 20% (71 units).
  • Residential Sales
    As was stated above, Residential unit sales are on par with 2016 with 112 units sold in January 2017 vs 111 units sold in January 2016. The one statistic that is interesting is that the sale of bank owned properties has increased by 40% over 2016. The MLS will watch this statistic to see if there is a trend developing.Land Sales – Land unit sales are down 13% from 2016; however, total sales volume is up 14%.

 

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