Interesting statistics for March. With low inventory and higher interest rates the market appears to be cooling off; however, there are still plenty of sales out there.
- Inventory is down by 24% (Residential down by 30%, Lots / Land down by 24% and Commercial down by 4%).
- Interesting, in the entire MLS, there are only 50 residential listings that are priced less than $400K and only 19 of these properties are on the Outer Banks between Corolla and Hatteras.
- Sales are down by 16% (Residential down by 20%, Lots / Land sales are stable and Commercial up by 45%).
- Total Volume Sold is up by 8% (Residential up by 7%, Lots / Land down by 2% and Commercial up by 45% (The increase in commercial sales can be attributed to three large sales).