Spring 2025 Real Estate Market Update – Outer Banks, NC
Greetings from the beautiful Outer Banks of North Carolina!
As we step into spring and wrap up the first quarter of 2025, it’s the perfect time to check in on the latest trends in our local real estate market. This update focuses on Dare and Currituck Counties along the beach—our primary service areas at Colony Realty Sales.
We appreciate your patience for this delayed report. We held off to ensure accuracy after receiving some initial data discrepancies and, of course, the usual busy schedule this time of year.
Let’s dive into the numbers and see what’s been happening across the Outer Banks.
Market Overview: February 2024 to February 2025
- Residential Sales Volume: ⬆️ Up 31% year-over-year
- Residential Inventory: ⬆️ Up 56%
- Lot Inventory: ➡️ Unchanged
- Commercial Inventory: ⬇️ Slight decrease
The commercial market remains tight—well-priced listings with tenants or redevelopment potential continue to move quickly.
Good News for Buyers and Sellers
Sales prices have continued to rise overall, signaling a strong seller’s market. However, with inventory also climbing, buyers now have more choices, especially if you’re new to the area or looking to reinvest. It’s a great time to explore the market while there’s more availability.
Focusing on the Beach Market
At Colony Realty Sales, our specialty lies in the beach communities—from Hatteras Village to Corolla, just off the pavement. While we occasionally work in lower Currituck for primary homes and commercial properties, our main focus remains coastal residential sales.
Here’s a detailed snapshot of the active inventory across Dare County beaches, Roanoke Island, Bodie Island, Hatteras Island, and Corolla:
All Active Listings (Residential + Condos)
- Total Listings: 640
- Average Price: $1,054,171
- Median Price: $774,500
- Average Days on Market: 111
Compared to the ultra-competitive “unicorn years” during the pandemic—when homes sold in under 30 days—this shift signals a return to a more balanced market, offering buyers time to make informed decisions.
Breakdown by Property Type
Condos
- Listings: 81
- Average Price: $511,000
- Median Price: $435,000
- Average Days on Market: 87
Single-Family Homes
- Listings: 509
- Average Price: $1,213,606
- Median Price: $869,000
- Average Days on Market: 109
Townhomes
- Listings: 12
- Average Price: $628,058
- Median Price: $637,449
Co-Ownerships (Fractional Ownership)
- Listings: 31
- Average Days on Market: 185
Note: Co-ownership listings are typically lower in price but offer limited annual use (e.g., four to six weeks per year).
Multifamily
- Listings: 2
- Average Price: $782,500
- Average Days on Market: 134
What This Means for You
Whether you’re considering a second home, an investment property, or making a full-time move to the coast, today’s market offers a broader selection than we’ve seen in recent years. With more inventory and longer average days on the market, buyers have more leverage and less urgency—while sellers still benefit from appreciating values.
Our local market historically averages 160 to 200 days on market for single-family homes. So even with the recent uptick in listing duration, we’re still in a healthy, active environment for both buyers and sellers.
Let’s Connect
At Colony Realty Sales, we’re committed to keeping you informed so you can make confident, educated decisions when the time is right. If you have questions about the Outer Banks market—or even about trends in your hometown—we’d love to help.
Wishing you a fantastic spring, and we hope to see you at the beach soon!
– The Colony Realty Sales Team
View/Download OBAR’s Most Recent MLS Statistical Report
Start searching for your dream home on the beach
What’s my Outer Banks home worth? [Get an instant property value now]