Outer Banks Real Estate MLS Report- June 2018 Summary:
The Month to Month Unit Sales graph shows that sales have started their seasonal decline. For the year, residential sales are down by 4%, lot / land sales are down by 11% and commercial sales are down by 13%.
Total Under Contract
The Total Under Contract graph shows that the number of listings under contract has been steadily declining since April. The decline is following a seasonal trend but with the low inventory we are exhibiting we will need to track this decline closely.
Lack of inventory continues to be a impact the market. Inventory is currently running 4% lower than last year.