Outer Banks Real Estate Market Update – September Overview
Hello from the beautiful Outer Banks of North Carolina! I’m John Head with the Resort Realty Sales Team, here to share a snapshot of how our local real estate market performed through the third quarter of the year.
This update is full of valuable insights to help you stay informed about current trends—whether you’re considering buying, selling, or simply keeping an eye on the market. For a detailed breakdown, be sure to review the full Outer Banks Association of Realtors Third Quarter MLS Report attached below.
Market Snapshot: Steady, Modest Improvement
Overall, the Outer Banks market continues to show steady but modest growth.
- Residential sales are up 6% for the quarter and 2% year-to-date, signaling a gradual pickup in buying activity.
- This aligns with our typical fall trend—September through November historically brings increased buyer interest as the market settles into a more traditional seasonal rhythm following the unusual “unicorn years” of the pandemic.
Lot Sales and Inventory Trends
The lot sales segment continues to soften, with 289 lots sold year-to-date, compared to 325 at this time last year.
- Inventory has increased slightly, up 3%, which is not alarming but indicates that homes are taking longer to sell.
- New listings are down slightly, and average days on market now range from 69 to 120 days, depending on the town or village.
Area Highlights
Market performance varies across the Outer Banks communities:
- Duck and Manteo both posted strong sales gains, up 8% and 47% respectively.
- Nags Head continues its steady run, with sales up 32%, despite some price softening.
- Corolla and Kill Devil Hills saw slight declines in both sales and pricing.
- On the Currituck mainland, sales showed moderate, steady growth.
Condo Market: A Bright Spot
One of the standout stories this quarter is the condo market, which saw a 16% increase in sales year-over-year. In contrast, single-family home sales dipped by about 3% in the Outer Banks segment.
This resurgence in condo activity marks a welcome shift after several years of subdued performance in that category.
Other Notable Trends
- Distressed sales and foreclosures remain virtually nonexistent, a continued sign of market health.
- Building permits are down slightly compared to last year, suggesting that new construction may be cooling somewhat.
The Bottom Line
The Outer Banks real estate market remains resilient as we move into the final quarter of the year. We’re seeing:
✅ Stable residential activity
✅ Softer land sales
✅ A gradual shift toward a more balanced buyer-seller environment
Whether you’re buying, selling, or just staying informed, our Resort Realty Sales Team is here to help you navigate today’s evolving market with clarity and confidence.
If you received this update from one of our agents, reach out to them to discuss what these trends mean for your specific goals.
For questions or to connect directly, you can reach me at John.Head@resortrealty.com.
Until next time, we look forward to seeing you here at the beach!
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