Outer Banks Real Estate MLS Report March 2018 Summary:
Residential Sales – So far, 2018 has not been a banner year. Residential sales are down by 8% and single-family home sales are down by 11%. Listings that were placed under contract were also down by 9% in this year.
The good news is that condominium sales are up by 22% and their median sale price is down by 10%.
The number of days that a listing remains on the market has also declined by 24% since 2017.
Residential inventory, for the first time in a long time, is stable. This statistic will need to be monitored to see if there is a trend.
Lot / Land Sales – Lots / Land unit sales are down slightly; however, average sale price and median sale price are up significantly – 27% and 26% respectively.