This is the Outer Banks Real Estate update for the week ending August 8th. A quick note on these weekly reports. I’m busy enough that I am not always able to do a video for the weekly reports, but the written version is always available at mooseobx.com. I have also pushed them back timewise a bit. For all of the stats to show a true picture of what happened in that week I need to wait a week to do the report. So if it seems like it is a week behind, it is. Now you know the reason.
So let’s get into it. Residential not including co-ownership, week ending August 8th, data retrieved August 16th:
The Stats
38 units sold. The average list price was $673,394. The average sold price was $674,249. The median list price was $559,900. The median sold price was $553,387. Average days on market 81, median days on market 6. Check that “days on market” figure. 8 of those homes were on the market 100 plus days, 6 are 285 days or more, the top two were 492 days and 572 days.
53 homes went under contract. The average list price was $608,520. The median list price is $499,000. Average days on market 37, median days on market 8. Again that “days on market” is skewed a bit by a condo that was on the market for 808 days! Take that one condo out the average days on market is 23.
There were 78 new listings. The average list price was $618,117. The median list price of $525,950. 29 of those are already under contract or off of the market, 49 are still active. 24% were under contract within the first 7 days.
Active Listing and Market Pace
At the time the data was pulled there were 498 active listings compared to 723 at the end of August 2020, and 1499 and the end of August 2019. The average list price is $924,960. The median list price is $639,000.
To keep you up to date with the pace of the market, going back to the previous week ending August 1st, there were 113 new listings. 68 of those are already under contract or off of the market, 45 are still active. 47% were under contract within the first 7 days. 34 of those are associated with a condo development in Corolla Light.
Going back two weeks to the week ending July 25th, there were 72 new listings, 35 of which are now under contract, or off of the market. 37 are still active. 26% were under contract within the first 7 days.
Going back three weeks to the week ending July 18th, out of 64 new listings 35 are under contract, sold, or off of the market. 29 are still active, one is temporarily off of the market. 30% were under contract within the first 7 days.
My August update is out. We’ll see if the sale cooldown referenced in OBAR’s June report continued into July’s Statistical Report from the Outer Banks Association of Realtors. 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 16th, 2021.