OBAR Releases November Monthly Real Estate Statistics

By on December 21, 2021

Nags Head, NC ā€“ The Outer Banks Association of REALTORSĀ® (OBAR) has released the November real estate statistics for the Outer Banks.Ā  Real estate is still going strong.Ā  Total volume sold is up 49% from this time last year and is rapidly approaching a record breaking $2 billion. Ā Inventory is well under 1000 with only 380 residential units available which is a difference of 241 homes available compared to the previous year.Ā  Lots/land properties are down 23% from this time in 2020 to 466 available. Ā Overall, inventory is down 31% compared to November 2020.

Sales are obviously going strong with 3134 residential units soldā€”an increase of 13% over 2020 year to date.Ā  Lots/land was up a statistically significant 63% with 898 properties sold.Ā  This is a little surprising considering there are only 6.5 weeks of inventory left.Ā  Thankfully, days on market for residential listings dropped by 61 to 53 days compared to this time last year.Ā  Lots/land average days on market are still pretty high at 168 days, however, that is down from 217 in November 2020.

Town to Town Comparison

Kill Devil Hills had the lowest number of days on market at 26 days which was 41 less days than this time in 2020.Ā  Ocracoke saw a 122% increase in year to date sales and Hatteras had the highest increase in Median Sales Price from $372,000 in November of 2020 to $523,000 this year.Ā  That is a difference of $148,000!

Properties in OBARā€™s MLS are primarily located in Dare and part of Currituck Counties and includes Ocracoke.

Click to View the Full Statistical Report.

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