OBX Real Estate Weekly Update – 3/6/2022

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OBX Real Estate Market Weekly Update – 3/6/2022

There is a big jump in the number of units moving from under contract status to sold status, up 35 units from last week! This is sort of a reflection of the increase in sales activity after the holidays. It takes most properties about 60 days to move into sold status. Out of those 74, 13 went under contract in 2021, 56 in January of this year. So while it is a big jump, it was expected. Available properties are still moving very quickly. Of the 60 that went under contract, 52% were within the first 7 days. Of the 70 new listings, 44% were gone within the first 7 days, and as of today (3/14), 60% are no longer available. My OBX Real Estate March Market Update, featuring the statistics from the Outer Banks Association of REALTORS┬« February Report, talks about the market’s pace, and other important aspects of our market you should be familiar with if you are contemplating any real estate transaction. I am always available to answer any questions you might have whether selling or buying.

The Weekly Stats

Units Sold 74
Average List Price $793,085
Average Sold Price $795,146
Median List Price $594,450
Median Sold Price $592,500
Average Days On Market 41
Median Days On Market 20
Total Volume $58,840,877
Units Under Contract 60
Average List Price $693,265
Median List Price $547,000
Average Days On Market 38
Median Days On Market 6
Under Contract 1st 7 Days 31
Under Contract 1st 7 Days % 52%
New Listings 70
Average List Price $804,029
Median List Price $640,200
New Listings Under Contract/Sold/Withdrawn 42
New Listings UC/Sold/Withdrawn % 60%
New Listings UC/Sold/Withdraw 1st 7 Days 31
New Listings UC/Sold/Withdraw % 1st 7 Days 44%
Active Listings As Of 3/14/2022 255
Average List Price $973,926
Median List Price $649,900
Information in this article is based on information from the Outer Banks Association of REALTORS® MLS for the period February 28th, 2022, through March 14th, 2022. Residential, not including co-ownerships.
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