Projected 2017 Beach Nourishment Schedules* |
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What is beach nourishment?
Beach nourishment is the process of pumping sand onto an eroding shoreline to widen the existing beach. Sources of sand may include a nearby sandbar, a dredged source such as an inlet or waterway, or an offshore borrow site along the ocean floor. The widened shoreline provides increased defense from coastal storms and beach erosion protecting property, communities and infrastructure located along the shoreline.
Current Beach Nourishment Project Updates
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Hatteras Island – Buxton2.9 miles of shoreline from the “Haulover” north of Buxton to the oceanfront groin at the Cape Hatteras Lighthouse. April 24, 2017 Update Weeks Marine, the contractor for the Buxton beach nourishment project, plans to begin mobilizing equipment and pipes in early May. Equipment and pipes will be stored near the south end of the project area at the decommissioned US Coast Guard Base. The first day of pumping sand is anticipated to be around May 21. The starting point for the project, where the offshore pipes connect with the onshore pipes, will be located at the oceanfront approximately 1000 feet north of the northern boundary of the village of Buxton. Weeks Marine is coordinating with the National Park Service to finalize their plan regarding whether pumping will initially proceed to the north or to the south. The whole project is expected to be completed within 90 days under normal conditions – approximately 55 days for the project area north of the starting point and approximately 35 days for the southern portion |
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Town of DuckClick here for more information about the project in the Town of Duck. |
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Town of Kitty HawkClick here for more information about the project in Kitty Hawk. |
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Town of Kill Devil HillsClick here for more information about the project in Kill Devil Hills. |
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Town of Southern ShoresClick here to visit the Town of Southern Shores website. |
Outer Banks Real Estate Report – March 2017 MLS Summary
- Sales – Overall sales, which had increased slightly during the first two months of 2017, jumped 13%with this report with residential property sales up a whopping 22%; however, it should be noted that lot / land sales are down 11% and commercial sales are down 67%.
- Under Contract – In February’s report, the MLS reported that the number of units that were placed under contract was up 11% to 367 units. In March, the number of units that were listed as being under contract jumped 22% to 451 units. The MLS has not had this many under contract listings in two years. Sales should be impressive with the April report.
- Inventory – Overall inventory continues to decline – down 14% over the last 12 months. Residential property inventory is down by 14%, lots / land inventory is down by 12% and commercial inventory is down by 14%.
- Distressed Property – Destressed properties continue to amaze the MLS with sales up 21% in 2017. Again, the total volume sold is down 5% and the average sale price is down 4% but the median sale price is up 54%. The jump in median sale price can be directly attributed to the sale of one high priced oceanfront home.
Outer Banks Real Estate Report – February 2017 MLS Summary
- Sales – Overall, sales have risen slightly in 2016 (up 4%); however, the statistic of note is thatresidential property sales have risen sharply (up 18%) while lots / land sales and commercial property sales have declined sharply ( Lots / Land down 30% and commercial sales down 67%).
- Under Contract – In January there were 330 properties that were listed as being Under Contract. In February, there are 367 properties listed as Under Contract – a 11% increase from January.
- Inventory – Overall inventory continues to decline – down 11% over the last 12 months. Residential property inventory id down by 10%, lots / land inventory is down by 15% and commercial inventory is down by 3%.
- Distressed Property – One of the surprising statistics is bank owned property unit sales which are up 70% in the first two months of 2017. Although bank owned unit sales are up, the bad news is the average sale price is down by 46%. The MLS has reviewed the sales for this period and has determined that more than 50% of the sales were for homes valued at less than $200,000. One can only speculate as to whether the inventory of lower priced bank owned homes is being “cleaned out”.
Summary
- Overall – Sales for January 2017 look to be on par with 2016; however, the statistic to keep an eye onis listings that are under contract. At 231 units under contract, this is the highest number of listings that have been placed under contract in the month of January since 2006 when 263 listings were under contract.
- Inventory – Residential inventory is down by 9% (1454 units), Land inventory is down by 16% (764 units) and Commercial inventory is down by 20% (71 units).
- Residential Sales
As was stated above, Residential unit sales are on par with 2016 with 112 units sold in January 2017 vs 111 units sold in January 2016. The one statistic that is interesting is that the sale of bank owned properties has increased by 40% over 2016. The MLS will watch this statistic to see if there is a trend developing.Land Sales – Land unit sales are down 13% from 2016; however, total sales volume is up 14%.
phone:
252-261-7721
address:
4607 N. Croatan Highway, Suite A
Kitty Hawk, NC 27949
Milepost 2.7
Kitty Hawk, NC 27949
Milepost 2.7
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