This is the Outer Banks Real Estate update for the week ending June 13th. Along with the weekly stats, we’ll reveal what American’s believe is the best investment vehicle.
The Stats
Residential not including co-ownership, week ending June 6th, data retrieved June 9th:
65 units sold. The average list price was $713,140. The average sold price was $714,245. The median list price was $594,900. The median sold price was $640,000. Average days on market 27, median days on market 5.
59 homes went under contract. The average list price was $676,019. The median list price $549,000. Average days on market 41, median days on market 14.
There were 60 new listings. The average list price was $686,207. The median list price of $529,000. 13 of those are already under contract or off of the market, 47 are still active.
Active Listings and Market Pace
At the time the data was pulled there were 416 active listings compared to 965 at the end of June 2020, and 1579 and the end of June 2019. The average list price is $910,876. The median list price is $641,110.
To keep you up to date with the pace of the market, going back to the previous week ending June 6th, there were 56 new listings, 27 of which are now under contract, or off of the market. 29 are still active. Going back two weeks to the week ending May 30th, out of 78 new listings 38 are under contract, sold, or off of the market. 40 are still active. Going back three weeks to the week ending May 23rd, out of 66 new listings 45 are under contract, sold, or off of the market. Only 21 are still active.
The market’s pace seems to have slowed a bit, but this is still a hot seller’s market.
America’s Investment Choice
A Gallup poll was recently conducted to determine America’s choice of the best long-term investment. The choices were stocks, bonds, savings account, real estate, and gold. An astounding 41% said real estate. And that 41% is the highest percentage of those 5 categories in 11 years.
The Outer Banks Association of Realtors May Statistical Report is out. I examine the stats in my June market update. You’ll find it on the Moose OBX Facebook page, Moose OBX YouTube channel, at Moose OBX dot com, and featured in the real estate section at OBX Today.
As always, If you have questions about a specific area or need help with your situation give me a shout. All of my info is at mooseobx.com
Information in this article is based on information from the Outer Banks Association of REALTORS® MLS for the period January 1, 2019, through June 16th, 2021.