Here are the highlights:
- Total Sales: Total June sales – 279 Units – the highest monthly number of units sold since October 2005. Total Volume Sold – $427,942,964.
- Under-contract: Units listed as under contract declined by 11% due to the record number of closings in June and the normal seasonal decline; however, with 410 units still listed under contract, the July sales figures should be noteworthy.
- New Construction: As of May 2017, the number of new construction building permits were down 7% from 2016 (112 units vs 121 units). Building permit value was down by 3%. Quite a change from last month.
- Days on the Market: For all residential properties listed in the MLS, the average Days on the Market was up slightly (3%) but down by 24% when compared with June 2016.
- How Sold: In our market, 66% of all loans are conventional loans, 20% are cash, 6% are VA, 4% are FHA, 3% are Jumbo. USDAA and Other account for the remaining loans.
- Distressed Sales: Distressed sales declined by 2% in June and accounted for just 5% of the total.
- Inventories: Residential inventory was down by 13% in June. Lots / Land inventory was down by 16% in June.
*This information is reprinted with permission from the Outer Banks Association of REALTORS
Let’s break it down by area and price range: (Data through July 15)
Corolla
$200,000 – $400,000 $401,000 – $600,000
46 for sale 81 for sale
49 sold YTD 51 sold YTD
7.5 buyers each month 8 buyers each month
6 months of inventory 10 months of inventory
8 U/C currently 16 U/C currently
128 Days on Market 198 Days on Market
$601,000 – $800,000 $801,000 – $1,000,000
53 for sale 27 for sale
20 sold YTD 7 sold YTD
3 buyers each month 1 buyer each month
18 months of inventory 27 months of inventory
5 U/C currently 3 U/C currently
92 Days on Market 137 Days on Market
$1,000,000 – up
66 for sale
16 sold YTD
2 buyers each month
33 months of inventory
4 U/C Currently
102 Days on Market
Duck
$200,000 – $400,000 $401,000 – $600,000
9 for sale 33 for sale
9 sold YTD 26 sold YTD
1.3 buyers per month 4 buyers per month
7 months of inventory 8.25 months of inventory
2 U/C currently 6 U/C Currently
133 Days on Market 120 Days on Market
$601,000 – $800,000 $801,000 – $1,000,000
23 for sale 20 for sale
9 sold YTD 9 sold
1.3 buyer each month 1.3 buyers each month
17 months of inventory 15 months of inventory
4 U/C Currently 2 U/C currently
81 Days on Market 149 Days on Market
$1,000,000 – up
27 for sale
7 sold YTD
1 buyers per month
27 months of inventory
2 U/C currently
186 Days on Market
Southern Shores
$200,000 – $400,000 $401,000 – $600,000
15 for sale 29 for sale
21 sold YTD 18 sold YTD
3 buyers each month 2.7 buyers each month
5 months of inventory 11 months of inventory
4 U/C currently 4 U/C currently
72 Days on Market 94 Days on Market
$601,000 – $800,000 $801,000 – $1,000,000
12 Active 8 Active
4 sold YTD 2 sold YTD
.6 buyers each month .3 buyers each month
20 months of inventory 26 months of inventory
1 U/C currently 1 U/C currently
259 Days on Market 74 Days on Market
$1,000,000 – up
12 Active
1 sold YTD
2 U/C currently
361 Days on Market
