Outer Banks Real Estate MLS Report May 2020 Summary:
Under Contract – Under Contracts are through the roof. With 549 listings under contract this is the highest number since the MLS started tracking this data. (As of June 8th the number of under contracts stands at 621; however, this number is not reflected in this report)
Although we are experiencing a record number of under contracts, getting these listing to closing has been hampered by the pandemic and the slowdown of real estate services – such as home inspectors, appraisers and attorneys. Appraisers have reported that they are so overwhelmed that they are running up to 4 weeks behind.