Outer Banks Fall 2015 Market Report
October 21, 2015 By Ilona
With cooler temps each Fall come higher sales numbers. Each year we see about a 25% increase in the number of sales versus the summer months. It’s pretty obvious with the majority of homes being occupied and unable to be viewed.
We also know that most buyers of second/investment homes will consider the purchase for anywhere from 6 months to 24 months before actually writing an offer. So it’s not uncommon for our summertime guests who decide to invest to re-visit in the fall and winter to purchase.
There are two main things I want to focus on in this update. First is the status of things now. Second, is the difference that 10 years and a very big cycle can make.
Status of the market right now:
(This info is for home sales only and compares September 2015 to September 2014)
- The number of homes sold is up 11%
- Average sales price is down 2%
- Median sales price is up 4%
- The number of homes in active inventory is down 11%
The bottom line? More homes are selling, prices remain the same and inventory is just now starting to go down. These are all very good signs for our market. This is an important step in the process to getting back to a normal, growing market. The process will still take a few years, but it’s good to be on the right track.
The reason this is so important is because we all remember still how good it was in 2004 and 2005 when prices were at their peak. We also have to remember these cycles don’t happen overnight. The impact of the market crash was tremendous. It will take a very long time to fully recover from it.
Consider the difference 10 years makes:
(This data compares the calendar year 2004 to 2014 for home sales only)
- We sold 749 FEWER homes in 2014
- We sold $589 million LESS in Volume in 2014
- The average sale is 26% LOWER than it was in 2004
- Median sale price is DOWN 28% from 2004
- Days on Market – are up MORE than 2 months
Those are some pretty major differences. All in all what you need to know is if you’re ready to buy, prices and interest rates are definitely in your favor. If you’re thinking of selling, the market is very active and we can get the job done.
The last few listings I took sold in less than 30 days. When you price it right, it will sell.
New Listing! 3104 Columbia Avenue Kill Devil Hills, NC 27948
March 18, 2015 By Ilona
New Listing!!
3104 Columbia Avenue
Kill Devil Hills, NC
MLS# 87201 $240,000
This charming beach box is located in a prime area in Kill Devil Hills. The garage was converted to a work area/laundry room/game area and additional bedroom with private bathroom. Take the interior stairs up to an open great room with kitchen and dining area. Two additional bedrooms are on the south side of the top floor with a hall bath. A large master bedroom and bath with walk in closet are on the north side. The fenced in back yard makes this a great choice for buyers with dogs or small kids. Plenty of room to play. Maintenance free vinyl siding is a plus!
Contact me for more details!
Fall in Love with this Cozy Beach House in the Heart of Duck!
March 5, 2015 By Ilona
New Listing!!
124 Marlin Drive,
Duck, NC
MLS #: 86752 $325,000
You will love this cute and cozy beach house right in the heart of Duck. This home sits right in the middle of Marlin Drive. Easy access to the beach or the foot/bike path into Town for shopping and restaurants. Enjoy three bedrooms and 2 full baths on the top floor. Along with an open concept kitchen, living and dining area. Relax on the screened porch for shade or sun on the huge, open back deck. The ground floor offers an outside shower, storage and another large bedroom and bathroom. The septic was updated in 2005 to accommodate the additional bedroom. This home has been well cared for and it shows.
Never rented, just used by family and friends.
This is the perfect house to call your own for an incredible price in Duck!
Contact me for more details!
Great View and Privacy Provided with your Huge Corolla Lot!
March 3, 2015 By Ilona
526 Sandbucket Arch
Corolla, NC
MLS#85193 $695,000
What a home!!! So many updates and upgrades have been done to this great Section C home. Within the last 3 years there was a new kitchen with granite countertops, all new tile flooring on the top level, new carpet in 4 bedrooms, new wood floors in hallway and steps, updated bathrooms with tile shower, pool, and furniture. New for 2014 is the roof, elevator, front deck with Trex material. Move in ready and CLEAN! It’s a great rental home or second home. HUGE lot with excellent privacy it feels like it’s the only home around. Enjoy the ocean views and extremely short walk to direct beach access. The top floor features a HUGE and open living/dining/kitchen area with more than enough room to spread out. In the off season you can relax by the wood burning fireplace.
Contact me for more details
Would you like to sit by Your Fireplace Daydreaming about Summer in Corolla?
February 26, 2015 By Ilona
526 Sandbucket Arch
Corolla, NC
MLS#85193 $695,000
What a home!!! So many updates and upgrades have been done to this great Section C home. Within the last 3 years there was a new kitchen with granite countertops, all new tile flooring on the top level, new carpet in 4 bedrooms, new wood floors in hallway and steps, updated bathrooms with tile shower, pool, and furniture. New for 2014 is the roof, elevator, front deck with Trex material. Move in ready and CLEAN! It’s a great rental home or second home. HUGE lot with excellent privacy it feels like it’s the only home around. Enjoy the ocean views and extremely short walk to direct beach access. The top floor features a HUGE and open living/dining/kitchen area with more than enough room to spread out. In the off season you can relax by the wood burning fireplace.
Contact me for more details
Look Out from Your Rooftop Deck at the Breathtaking Sound Views in Corolla!
February 19, 2015 By Ilona
440 Brant Road,
Corolla, NC
MLS #: 86504 $415,000
This home is everything you’re looking for in a private getaway! Bulkheaded, tile floors on top level, lots of windows, great furniture package and more! Enjoy a covered entry leading up to the mid level with 3 very nice bedrooms and bathrooms, tile foyer entry way and two bedrooms with deck access. The top floor features a nice open kitchen, living room, dining area and full master bedroom/bath. Step out on the deck to enjoy the serenity and quiet ambience of 4 wheel drive living. Take it up to the rooftop deck for the most breathtaking sound views! You won’t be disappointed.
Contact me for more details!
New Listing!! 124 Marlin Drive, Duck, NC 27949
February 17, 2015 By Ilona
New Listing!!
124 Marlin Drive,
Duck, NC
MLS #: 86752 $325,000
You will love this cute and cozy beach house right in the heart of Duck. This home sits right in the middle of Marlin Drive. Easy access to the beach or the foot/bike path into Town for shopping and restaurants. Enjoy three bedrooms and 2 full baths on the top floor. Along with an open concept kitchen, living and dining area. Relax on the screened porch for shade or sun on the huge, open back deck. The ground floor offers an outside shower, storage and another large bedroom and bathroom. The septic was updated in 2005 to accommodate the additional bedroom. This home has been well cared for and it shows.
Never rented, just used by family and friends.
This is the perfect house to call your own for an incredible price in Duck!
Contact me for more details!
