OBX Real Estate Market Weekly Update 4/24/2022

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OBX Real Estate Market Weekly Update – 4/24/2022

What happened? Only 26% of new listings are off of the market in seven days or less?!? The average list price is way under the current market average? The number of new listings low too? My crystal ball tells me this could be a one-week aberration. Each of these will bounce back up a bit next week. But we will have to wait and see if this will become a trend. Interest rates are going up so we could start to see the market cool a bit.

Units Sold 67
Average List Price $839,634
Average Sold Price $825,271
Median List Price $595,000
Median Sold Price $575,000
Average Days On Market 46
Median Days On Market 8
Total Volume $55,293,182
Units Under Contract 59
Average List Price $625,292
Median List Price $499,900
Average Days On Market 34
Median Days On Market 9
Under Contract 1st 7 Days 22
Under Contract 1st 7 Days % 37%
New Listings 46
Average List Price $580,093
Median List Price $489,450
New Listings Under Contract/Sold/Withdrawn 19
New Listings UC/Sold/Withdrawn % 41%
New Listings UC/Sold/Withdraw 1st 7 Days 12
New Listings UC/Sold/Withdraw % 1st 7 Days 26%
Total Active Listings As Of 5/3/2022 309
Average List Price $1,024,185
Median List Price $725,000
OBX Active Listings As Of 5/3/2022 238
Average List Price $1,201,980
Median List Price $849,950

Information in this article is based on information from the Outer Banks Association of REALTORS® MLS for the period April 18th, 2022, through May 3rd, 2022. Residential, not including co-ownerships.

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