Outer Banks Real Estate Market Update – Q1 2025
Greetings from the beautiful Outer Banks of North Carolina! I’m John Head with Colony Realty Sales, here to provide your latest real estate market update, reflecting data from the first quarter of 2025.
As always, market updates reflect data in arrears, so this summary includes performance from January through March, plus a few early April insights.
Market Snapshot – Q1 2025 vs. Q1 2024
- Residential Sales: Down 3% year-over-year
- Lot Sales: Down 9% year-over-year
- Overall Inventory: Up 23%, indicating a healthier, more balanced market
After a typically quiet start to the year — we always say not to expect much before the Super Bowl — we’ve begun to see an uptick in market activity. The increase in inventory is a promising sign for both buyers and sellers, helping to ease the tight supply we’ve experienced in recent years.
Price Trends and Market Behavior
- Residential Prices: Median prices are up compared to 2024. This reflects stronger activity in higher-end home sales.
- Condo Sales: Down 6% year-over-year
- Days on Market: Increasing slightly; currently averaging between 92–126 days, depending on the area
If you’re considering selling, now is an ideal time to request an equity evaluation. This service goes beyond the typical CMA (Comparative Market Analysis). It includes:
- Valuations from tools like Zillow and Realtor.com
- Tax assessment comparisons
- Analysis of recent sales
- Price-per-square-foot breakdowns
This comprehensive approach provides a more accurate and detailed valuation, especially compared to automated estimates. And the best part? We offer it at no cost.
Area-by-Area Highlights
Markets Facing Challenges
- Corolla: Sales down 41%, with days on market averaging 93 days
- Duck: Sales down 38%
Strong Performers
- Southern Shores: Up 12%
- Kitty Hawk: Slight decline, down 9%
- Colington (particularly Colington Harbour): Up 35%
Notable Growth Areas
- Nags Head: Sales are up 87% year-to-date – a significant surge and a sign of strong buyer interest.
- Hatteras Island (Rodanthe, Waves, Salvo, Avon, Buxton, Frisco, Hatteras Village):
- Sales up 19%
- Median prices up 27%
These regions, especially Nags Head and Hatteras Island, are proving to be standout opportunities for both buyers and sellers in 2025.
Thinking About Buying or Selling?
Whether you’re looking to buy a slice of paradise or preparing to sell, the Colony Realty Sales team is here to help. Reach out for your personalized equity evaluation, or just to talk through your options in today’s market.
📧 Email: john@colonyrealtycorp.com
📞 Phone: 252-592-4629 (or 252-592-4OBX)
Or simply contact the agent who sent you this update. We look forward to helping you make informed real estate decisions—and hopefully seeing you at the beach this summer!
For questions or further information, feel free to reach out to me, or any of our incredible team members.
Make it a great day until we see you here at the beach.
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