This is the Outer Banks Real Estate update for the week ending June 6th.

Along with the weekly stats, we’ll be looking to find the most competitive price range.

The Stats

Residential not including co-ownership, week ending June 6th, data retrieved June 9th:

59 units sold. The average list price was $850,877. The average sold price was $852,144. The median list price was $500,000. The median sold price was $519,000. Average days on market 27, median days on market 5.

68 homes went under contract. The average list price was $688,240. The median list price $458,500. Average days on market 39, median days on market 12.

There were 56 new listings. The average list price was $682,235. The median list price of $536,950. 24 of those are already under contract or off of the market, 32 are still active.

New Listing and Market Pace

At the time the data was pulled there were 394 active listings compared to 1233 at the end of May 2020, and 965 at the end of June 2020. The average list price is $926,833. The median list price is $641,110.

To keep you up to date with how fast the market is moving, going back to the previous week ending May 30th, there were 78 new listings, 36 of which are now under contract, or off of the market. 42 are still active. Going back two weeks to the week ending May 23rd, out of 67 new listings 37 are under contract, sold, or off of the market. Only 30 are still active. Going back three weeks to the week ending May 16th, out of 82 new listings 51 are under contract, sold, or off of the market. Only 31 are still active.

Hot Price Range

Like last week I’m going to do a deeper dive on the new listings on that third week out, the week ending May 16th. Of the 31 homes that are still active, the average list price is $994,831. The median list price is $649,900. 

Of the 51 that went under contract, the average list price was $623,856. The median list price was $515,000. For the days on market an average of 8, and a median of 5. The high mark for the number of days on market was 26.

Homes in all price ranges that are priced correctly will get snapped up quickly. But there is intense competition below $800,000. 

The Outer Banks Association of Realtors May Statistical Report is out. I’ll dive into that 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, 2020, through June 9th, 2021.