- Overall – When looking at the sales figures for this month, sales have been flat with a <1% change inunit volume and a small increase in the total sales volume and average sale price. However, there are some bright spots within the residential and land classes. See the details below:
- Residential Sales
- Condominiums – Unit sales up again this month by 6%, total volume sold is up 13% and averagesale price up 7%. Condominium sales have done well over June, July and August; however, sales have fallen off in September. The MLS will keep an eye on these numbers to determine if this is a long term trend.
- Single Family detached homes – Unit sales were down again this month by 3% and total volume sold is down by 1%; however, average sale price is up by 2%.
- Inventory – Residential property inventory is down 10% (1642 units vs 1819 units).
- Land Sales – Unit sales are still up 6%, total volume sold is up 13%, average sale price is 7% andmedian sale price is down 2%. Lots / Land inventory is down 16% (882 units vs 1056 units).
- Distressed Properties –
Short sales – Only one short sale listing sold this month; however average sale price is up 23%.
Bank Owned – Only three bank owned listings sold this month; however, average sale price is up 24%.
Data Obtained: October 8, 2016
Note: This report reflects corrections / updates to previous data.
This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by the OBAR MLS is for its own use and may not reflect all real estate activity in the market.