Outer Banks Real Estate MLS Report August 2019

Outer Banks Real Estate MLS Report August 2019

Summary:

  • Sales – Sales of all classes are up 4% for the year and, of particular note, August sales were at a record level not seen since August 2005. Residential sales were up 5%, Lots / Land sales were down 9% and Commercial sales were up 57%
  • Inventory – Overall, inventory is up 4% with Residential down by 2%, Lots / Land inventory up by 14% (second month in a row) and Commercial inventory up by 5%.
  • Area to watch – Watch for lots of closings in September. Still well over 400 listings in an Under Contract status.