"...Kicking off this partnership, John and I have been working together for the past couple of years, and... from the very beginning we saw real synergy! His expertise in real estate sales and long-term rentals, and our expertise in vacation rentals, short term vacations and property management, in that regard, and we thought it'd be a good idea to put the team together and start working on ways to grow both of our businesses and to enhance our owners' experience and give them a full suite of options when it comes to working in real estate in the Outer Banks."
- Tom Stewart, Resort Realty of the Outer Banks
John Head, the team lead for Colony Realty sales team along with Tom Stewart, the chief operational officer for Resort Realty of the Outer Banks collectively present great announcement of a new partnership formed to continue the growth of Colony Realty sales, and also helping Resort Realty of the Outer Banks with a need for real estate sales within their portfolio of homes, clients and vacationers. Watch the video to learn more, and view the press release below.
OUTER BANKS, NC – Aug 23, 2021 - Resort Realty of the Outer Banks and Colony Realty Corporation are pleased to announce the signing of a partnership agreement for real estate sales on the Outer Banks, NC. Resort Realty powered by the Colony Realty sales team can be found at their new website: www.resortrealty-obxsales.com
This new partnership allows Resort Realty to concentrate on its core business of Outer Banks vacation rentals and property management, while offering the buying and selling power of Colony Realty.
“Colony Realty’s expertise in real estate sales and long term property management is the perfect complement to Resort Realty’s 34 years of vacation property rentals and management experience. Whether it’s an existing property owner looking for an additional investment property or a new investor wanting to break into the Outer Banks market, the new partnership will benefit property owners throughout the entire process, said John Head, VP of Sales and Marketing, Colony Realty Corporation.
“The partnership with Colony Realty is a win-win for both companies. With the extreme growth we’ve experienced in the vacation rentals industry on the Outer Banks, we can better serve our home owners by partnering with a well-respected, experienced real estate sales company that is Colony Realty.” said Tom Stewart, COO of Resort Realty.
About Resort Realty
For more than 34 years, Resort Realty has been providing families with memorable Outer Banks vacations and professional property management services. With four convenient office locations in Corolla, Powells Point, Nags Head and Waves, Resort Realty has a team of dedicated professionals uniquely qualified to help you find the perfect Outer Banks vacation home for you and your family. Nobody knows the Outer Banks better!®.
For more information, please visit www.resortrealty.com
About Colony Realty Corporation
Colony Realty is a Full-Service, independent Real Estate firm, built on a foundation of
ethics and integrity. The Colony sales team has continued to go the extra mile for their clients
since 1962. Whether looking for a second home in Nags Head, investment property from Corolla to Hatteras, or a primary residence in Southern Shores, our agents are dedicated to assisting buyers and sellers along the Outer Banks.
With Colony and Resort Realty’s combined resources, clients can expect high-quality service
and exceptional personal attention throughout their real estate journey.
For more information, please visit www.colonyrealtycorp.com
What a great year 2020 ended up being on the Outer Banks of North Carolina, in spite of a challenging start to the year with Dare County shutting down tourists, traffic and owners.
So far, 2021 is looking strong, and we’re excited to serve you well here on the Outer Banks with your real estate needs. Based on OBAR’s Monthly Market Analysis, the numbers are an indicator of what happened in our market in 2020 compared to 2019, and they can help us observe the trend of the market going into 2021.
The residential market (lot with a house on it) and vacant lot purchases were up 44% over 2019. In December 2019, we had 219 home sales, a 14% increase over 2018. Yet in 2020, we had 393, a 79% increase. Customarily, our market begins to slow from Thanksgiving through the Super Bowl; however, that has not been the case this year. At present, we have been writing offers and showing properties right through the holidays, never hitting that market “lull” experienced in previous years.
To go a bit broader and look at a year-over-year experience, in 2019 there were 2,606 units sold (including residential, vacant land and commercial properties). In December 2020, by year’s end, there were 3,742 units sold, a 44% increase over the previous year.
December Under Contracts dropped considerably, possibly due to the influx of real estate closings that occurred.
Looking into areas of the Outer Banks, Duck, Corolla, Nags Head and others, reports indicate they were up, some even considerably. Corolla was up 129% over 2019, which is a huge jump. If you’re looking to move into the lower beaches of Hatteras Island, they were up 64% year over year, a meaningful improvement.
Looking back in history at 2005, we saw the same peak, and the 2005 sold data was exceeded in 2020. You may be asking: Could this mean we are headed for a slowdown? As far as we can tell, no indicators show anything on the horizon to curtail the energy in this real estate market at present. Unless something happens economically, this market is in a great place.
So whether you’re considering selling or looking for an opportunity out there for buying, let us help you navigate this process and protect your interests. If you “buy it right,” you always “sell it right.” There are areas with great value if you’re considering buying. Reach out, and we will connect you with the Colony Realty team member who will best suit your needs and search location, whether on Hatteras Island or the Outer Banks and/or northern beaches.
It's been a wild year already, and as the Outer Banks reopens, we are eager to get back to normal. With Non Resident Property Owners having staggered reentry this week, and today's announcement to welcome back visitors on May 16th, 2020, we can't wait to have you on our gorgeous, untouched OBX Beaches again soon. We are so thankful for you, we value you, and all of us here on the Colony Realty team are wishing you and your families stay safe, healthy and have a summer filled with wonderful experiences. Don't ever hesitate to reach out if we can assist you in any way with your real estate needs here on the Outer Banks. We are always here to help. Dare County Reentry Information