OBX Weekly Real Estate Market Update – 8/1/2021

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This is the Outer Banks Real Estate update for the week ending August 1st. Residential not including co-ownership, week ending August 1st, data retrieved August 4th:

The Weekly Stats

58 units sold. The average list price was $688,908. The average sold price was $677,327. The median list price was $514,500. The median sold price was $512,500. Average days on market 34, median days on market 12.

85 homes went under contract. The average list price was $529,878. The median list price is $439,000. Average days on market 21, median days on market 3.

There were 113 new listings. The average list price was $645,947. The median list price of $489,000. 53 of those are already under contract or off of the market, 60 are still active. 28% were under contract within the first 7 days. 34 of those are associated with a condo development in Corolla Light.

 

New Listings and Market Pace

At the time the data was pulled there were 483 active listings compared to 723 at the end of August 2020, and 1499 and the end of August 2019. The average list price is $936,551. The median list price is $649,000.

To keep you up to date with the pace of the market, going back to the previous week ending July 25th, there were 74 new listings. 30 of those are already under contract or off of the market, 44 are still active. 28% were under contract within the first 7 days.

Going back two weeks to the week ending July 18th,  there were 64 new listings, 39 of which are now under contract, or off of the market. 34 are still active. 31% were under contract within the first 7 days. 

Going back three weeks to the week ending July 11th, out of 71 new listings 39 are under contract, sold, or off of the market. 31 are still active, one is temporarily off of the market. 35% were under contract within the first 7 days.

My August update should be out next week. We’ll see if the cooldown continues. The July market update with a look at the Outer Banks Association of Realtors June Statistical Report is out. 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 August 4th, 2021.

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