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Over the past four or five years, building material costs have risen—most builders are quoting anywhere between $160,000 and $225,000.
You'll need to be more strategic about your approach if you do decide to make a move.
Where does our Outer Banks market stand as we near the end of spring?
In short, things are still moving briskly—the number of vacationers moving to our area is rising every day, which makes it an opportune time to buy or sell.
How do the numbers from last April compare to the numbers from April 2018?
First off, inventory is up 11% in unit sales—for residential sales, it’s up 9%. Lot sales, meanwhile, are up 3%, and the median sales price also increased slightly.
The number of vacationers moving to our area is rising every day, which makes it an opportune time to buy or sell.
In Hatteras Island and the southern beaches of the Outer Banks, the number of sales rose 10%, and the median sales price rose from $305,000 to $342,000. This is evidence of a stronger market, and we’re gaining some appreciation we lost during the economic downturn of 2007 to 2014.
If you’d like to know more about our market or you’re thinking of buying or selling soon, don’t hesitate to give me a call or email me. I’d love to help you.
I recently had the pleasure and privilege to head on up to Hatteras and cross the new Bonner Bridge.
This upgraded bridge has greatly improved the flow of traffic, meaning your travels to the Outer Banks will now be smoother and safer than ever.
If you’re thinking of purchasing property in our area, this new bridge is just one more benefit of living here in the Outer Banks.
Why would you want to buy a house on the beach during this time of year? Though people think the market typically cools off in the winter months, that’s not the case here.
The soft, silken sand of the Outer Banks can wash away the stress of daily life.
The weather has been remarkable, but I’ll let you see that for yourself in today’s video.
The soft, silken sand of the Outer Banks can wash away the stress of daily life, so why wait to jump into the market?
Reach out to us and we’ll be more than happy to get you started on your home buying journey. We look forward to hearing from you soon.
We’ve entered into yet another new year, which makes now the perfect time to discuss the state of our market. I know that looking at data isn’t always the most thrilling thing, but our team is committed to bringing you the most up-to-date information possible. Better yet, we’ve condensed the latest market trends down for you into a simple, straightforward update.
Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to browse specific topics at your leisure:
1:34 - How has market activity changed year over year?
2:40 - What does the change in activity mean for our market?
3:47 - Why is it important to review these statistics?
4:11 - How did statistics concerning vacant lots change year over year?
4:36 - How prevalent were distressed sales in 2018?
4:59 - How prevalent were new construction sales in 2018?
5:18 - How to contact us to ask questions, get more information, or request your own copy of this data