With the latest news of the DC and Metro housing market, it is yet to be seen if or how that may trickle down to the OBX. A healthy percentage of our secondary homeowners live in that area. It would only take a 20% increase in our inventory, if buyer demand stays the same, to push us into a 9 month absorption rate. That would then put us on the verge of an unstable market. We need to keep a close eye on how this will affect us.
As for our latest stats, here’s what is happening:
| Mid February 2025 | Mid February 2024 | |
| Active All | 1,153 | 889 |
| Active Houses | 586 | 411 |
| Under Contract | 287 | 331 |
| 3 Mo Sold Avg | 155 | 147 |
| Absorp Rate | 7.4 | 5.9 |
The numbers speak for themselves. Inventory is up, activity is down. We are seeing 75% of properties selling under list price. This is indicative of a normal market. We have only a small window of excess inventory before we enter “unstable” territory.
If you’re on the fence about selling, you might want to take a closer look.
