Outer Banks Real Estate MLS Report – October 2021 Summary:
Inventory continues to decline and is down by 29% – residential inventory is down by 35% and lots / land inventory is down by 24%)
Sales – Residential sales up by 16% for the year; however, lots / land sales are up by 72% for the year. Most of the increase in lots / land sales took place in late spring / or early summer. All sales are starting to show a downward trend as the year winter approaches.
Median Sale Price – Residential median sale price is up 19% Lots / Land median sale price is up by 11%. Total Sale volume is up by 57%. Of particular note is that median sale price for Hatteras Island is up a surprising 40%. ($375,000 in 2020 and $525,000 in 2021)