OBX Real Estate Market Weekly Update – 2/13/2022
Compared to last week units moving to sold status is down from 51 last week. The number of units under contract, which isn’t on this report, has crept back over 700. All of the days-on-market numbers are down from last week. This market is still moving quickly as you can see in the number of units already under contract.
| Units Sold | 42 |
| Average List Price | $668,238 |
| Average Sold Price | $657,405 |
| Median List Price | $530,000 |
| Median Sold Price | $530,500 |
| Average Days On Market | 40 |
| Median Days On Market | 33 |
| Total Volume | $27,611,024 |
| Units Under Contract | 66 |
| Average List Price | $799,190 |
| Median List Price | $587,000 |
| Average Days On Market | 32 |
| Median Days On Market | 6 |
| Under Contract 1st 7 Days | 33 |
| Under Contract 1st 7 Days % | 50% |
| New Listings | 57 |
| Average List Price | $641,721 |
| Median List Price | $525,000 |
| New Listings Under Contract/Sold/Withdrawn | 37 |
| New Listings UC/Sold/Withdrawn % | 65% |
| New Listings UC/Sold/Withdraw 1st 7 Days | 31 |
| New Listings UC/Sold/Withdraw % 1st 7 Days | 54% |
| Active Listings As Of 2/22/2022 | 242 |
| Average List Price | $939,780 |
| Median List Price | $602,500 |
Moose’s Take
The average percentage of units going under contract within the first seven days was 41% for 2021, and is up to 43% so far in 2022. What isn’t up is the number of new listings. It is down 12% from the same time period in 2021. Fewer homes selling faster! An average of 57% are off the market in the first 14 days, 62% in the first 21 days. 64% of this year’s new listings are under contract/sold/otherwise off-market.
I am repeating this, I know. But if you are thinking about selling your home at any point in 2022 consider selling now. Experts are still predicting there will be more inventory available as the year progresses. Your home will stand out more right now while there are fewer homes on the market. Let’s get started now and take advantage of this white-hot market.
Buyers will need a solid strategy to get their offer accepted. I can help you with your plan to get the home you want. If you would like to get an idea of your home’s value click here to go to my Homebot site. You just might be surprised!
My phone number is at the bottom of the page or go to my contact page.
Information in this article is based on information from the Outer Banks Association of REALTORS® MLS for the period February 7th, 2022, through February 22nd, 2022. Residential, not including co-ownerships.