This is the Outer Banks Real Estate update for the week ending May 9th. Residential not including co-ownership, week ending May 16th, data pulled May 19th:
60 units sold. The average list price was $602,114. The average sold price was $601,782. The median list price was $489,250. The median sold price was $494,500. Average days on market 19, median days on market 6.
75 homes went under contract. The average list price was $563,213. The median list price $469,000. Average days on market 23, median days on market 6.
There were 82 new listings. The average list price was $769,031. The median list price of $595,000. 28 of those are already under contract or off of the market, 54 are still active.
At the time the data was pulled there were 379 active listings compared to 1233 at the end of May 2020. The average list price was $928,409. The median list price was $635,000.
To keep you up to date with how fast the market is moving, going back to the previous week ending May 9th, there were 82 new listings, 44 of which are now under contract, or off of the market. Only 38 are still active. Going back two weeks to the week ending May 2nd, out of 79 new listings 58 are under contract, sold, or off of the market. Only 22 are still active. Going back three weeks to the week ending April 25th, out of 77 new listings 52 are under contract, sold, or off of the market. Only 25 are still active.
This week’s “Days On Market” figures really show just how fast the best properties are getting swooped up. The median days on market is 6 for sold properties and under contract properties. The average days on market this week is 19 for sold properties, and 23 for under contract. If you are a buyer and find that perfect property, have all of your finances in order, consider the asking price as the starting point, make the offer as clean as possible, and act quickly.
My May monthly market update including my overview of the April Statistical Report from the Outer Banks Association of Realtors is now out. You can find it on the Moose OBX Facebook page, 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 May 19th, 2021.