OBX Real Estate Market Weekly Update – 3/13/2022
New listings continue to fly off the market. Out of 70 new listing for the week, 47% were spoken for in the first 7 days, 59% of the gone by the day this report was compiled, 3/22. In addition, some sellers are making serious demands such as the amount of due diligence money they require specific weeks they will be in the home during the season after it sells (notice I didn’t say they are “requesting” those weeks).
The number of new listings compared to 2021 is down 16%. But the sales pace percentage is similar to last year. Fewer properties selling at record speed. This is still a super-sellers market.
Properties still need to be in great shape, staged, and priced right. If you really want to sell a house, listen to your REALTOR® (ME!!) when they tell you to price it at or just below market value. The idea is to get more people to see your home. Overpricing will ensure fewer people will come to look at your house. Use the play that works!!
I have strategies for buyers too. But you will have to be aggressive to get the home you want. Let’s talk so I can get you started.
| Units Sold | 62 |
| Average List Price | $862,640 |
| Average Sold Price | $858,812 |
| Median List Price | $622,500 |
| Median Sold Price | $637,500 |
| Average Days On Market | 43 |
| Median Days On Market | 7 |
| Total Volume | $53,246,398 |
| Units Under Contract | 59 |
| Average List Price | $657,370 |
| Median List Price | $519,900 |
| Average Days On Market | 33 |
| Median Days On Market | 7 |
| Under Contract 1st 7 Days | 27 |
| Under Contract 1st 7 Days % | 46% |
| New Listings | 70 |
| Average List Price | $894,559 |
| Median List Price | $639,500 |
| New Listings Under Contract/Sold/Withdrawn | 41 |
| New Listings UC/Sold/Withdrawn % | 59% |
| New Listings UC/Sold/Withdraw 1st 7 Days | 33 |
| New Listings UC/Sold/Withdraw % 1st 7 Days | 47% |
| Active Listings As Of 3/21/2022 | 250 |
| Average List Price | $1,062,244 |
| Median List Price | $716,950 |
Information in this article is based on information from the Outer Banks Association of REALTORS® MLS for the period March 7th, 2022, through March 21st, 2022. Residential, not including co-ownerships.