At a special meeting held March 17, the Dare County Board of Commissioners accepted the bid from Great Lakes Dredge and Dock Company for the beach nourishment project that encompasses the Town of Duck, Town of Kitty Hawk, and Town of Kill Devil Hills. The award is contingent on approval from the Local Government Commission.
The bid from Great Lakes Dredge and Dock Company totaled $38,596,850 and is approximately $4.9 million under budget.
Work is scheduled to being in April 2017. As plans progress, the Town of Duck, Town of Kitty Hawk and Town of Kill Devil Hills will provide information about plans for construction.

Outer Banks Association of Realtors January 2015 MLS Statistical Report Summary:


* Overall – “Overall sales are off to a slow start in 2015 with sales down by 7% and total volume down by 21%. See below for a breakdown of the January sales by class:

* Residential Sales – Unit sales were down by 13% with 93 units sold in January compared with 107 units in January 2014. Total volume sold was also down by 20%; however, the median sale price is up by 15%.

* Land Sales – Unit sales were up 41% with 31 units sold in January compared with 22 units in January 2014. Total volume sold was also up by 17%. Average and median sales prices were both down by 17% and 19% respectively.


* Inventory – Residential inventory was up 4% with 1870 units on the market; however, land and commercial inventory are both down about 11%.


* Foreclosures – Although the data is incomplete for January, there have been 13 foreclosures in Dare County so far. Thirteen is the lowest number of January foreclosure filings since the MLS started collecting data in 2011.”

See the whole report here – REPORT

2014 Year End Summary
Overall – Overall it was a pretty good year. Sales were on par with 2013 and although there was a little lag in sales in the early spring (cold weather) they picked up in May and stayed ahead of the curve for almost the entire year.

Residential Sales – Unit sales, as well as total volume sold, were up by 5% over 2013 with 1602 units sold with a total volume of $565,908,269.

Land Sales – Unit sales, which were hot in the late spring and early summer ended up on par with 2013 (491 units sold in both years) but the good news is that total volume sold was up 19% in 2014 at $60,689,759.

Commercial Sales – Unit sales, as well as total volume sold, were up over 2013. Unit sales were up 24% and Total volume sold was up 9%.

Inventory – Residential inventory finished on the plus side – up 4%, but land and commercial property inventory declined 10% and 15% respectively.

Distressed Residential Sales – It has not been a good year for distressed property sales. Unit sales of properties listed as Short Sales were down 36% and unit sales of properties listed as Bank Owned were down 33%. Total volume sold was also down 43% for Short Sales and 26% for Bank Owned.

Foreclosures – The number of Dare County foreclosures for 2014 declined by 34%. The number of Dare County foreclosures are at their lowest level (187 units in 2014) since the MLS started collecting data 2011. By comparison, in 2012 there were 327 units foreclosed and in 2013 there were 287 units foreclosed.

Data from Outer Banks Assoc. of Realtors