Good Morning!
While the outside temperature may be at freezing right now for the Outer Banks, our market is smoking hot! Well at least when it comes to activity.
Chew on this – From Nags Head to Corolla, there were 98 homes that went under contract in January. Of those, 34 have been on the market for 60 days or less and 24 were on the market for 30 days or less.
That means 24 homes that JUST came on the market in December or January and are already under contract. Another great note, 6 of those 98 are deals I put together! I’ve been very busy so far this year and am working hard to keep it going.
Even though the data reports that closed transactions for January shows a 13% drop from January of 2014, that is really an indication of activity from November and December. It will be very interesting to see the difference in closed transactions for this February over last year.
So that covers activity…I know, you’re thinking about value and price now. Take a look at the chart below. While activity has had its ups and downs, price has really flat lined. That’s actually expected after a market crash as devastating as we had.
|
Year |
Units Sold | Percentage Change | Median Price | Percent Change | Active Listings | Median DOM | Months Supply |
|
2011 |
1,333 |
$284,500 |
|||||
|
2012 |
1,596 | 20% | $285,000 | 0% | 1726 | 226 |
12.98 |
|
2013 |
1,574 | -1% | $273,500 | -4% | 1714 | 222 |
13.07 |
| 2014 | 1,604 |
2% |
$280,000 | 2% | 1733 |
213 |
12.97 |
Let me know how I can help.
If you’re considering buying and found a house you love, take action before it sells!
If you’re thinking about selling, there’s NO reason to wait. Buyers are ready! Also keep in mind that we are a resort market. Most buyers and sellers don’t HAVE to buy or sell. It’s a discretionary purchase, so it’s normal for our market to take longer to recover.
