Outer Banks Real Estate Market November 2016

Outer Banks Real Estate Market November 2016

tidalrealty Market Statistics , OBX Home , OBX Real Estate Stats , Outer Banks Home Buyer , Outer Banks Real Estate Market , Real Estate Leave a Comment

Outer Banks Real Estate Market November 2016- How is the Market?

  • Overall – When comparing the Outer Banks real Estate market for November 2016 with 2015 sales, it appears that 2016 is trending a little below last year with unit sales down 1% (15 units), total volume sold up 1% ($8,728,314) and average sale price up 2% ($8,024), but there are some bright spots in 2016. See the breakdown below:
    •  Inventory – Resident property inventory is down 11%, Lots / Land inventory is down 21% and Commercial inventory is down 13%
    •  Residential Sales Condo Sales – Condo unit sales are at their highest level since 2005 and if the sales trend continues in December, then Condo sales will break the all-time sales record set in 2005. As of November 30, 164 units have been sold (178 units sold in 2005).
    • Single Family Detached – Single Family Detached unit sales are on track to make 2016 the secondbest year since 2005 when 1819 units were sold.
    •  Land Sales – Land unit sales are up 6% over 2015 and the total volume sold is up 8%. Will this trend continue?
    •  Distressed Properties – Short Sale sales picked up in November after two months of very little activity but Bank Owned property sales remained the same. Not much to report on.

Click here to see the OBX Real Estate Stats for October 2016

Outer Banks Real Estate Market November 2016

 

Outer Banks Real Estate Market by the numbers:

Year to Date Comparison – Total OBX Property Sales
Qty Sold % Chg Volume Sold % Chg Average Sale % Chg Median Sale % Chg Qty Active % Chg
Residential
  Current Period 1608  $          591,264,278  $     367,701  $  295,000 1531
  One Year Ago 1644  $          591,310,130  $     359,677  $  285,750 1717
Increase / Decrease -36 -2%  $            -45,852 0%  $     8,024 2%  $   9,250 3% -186 -11%
Lots / Land
  Current Period 448  $            60,089,959  $       134,129  $    73,500 823
  One Year Ago 423  $            55,638,313  $     131,532  $    75,000 1044
Increase / Decrease 25 6%  $          4,451,646 8%  $     2,597 2%  $     (1,500) -2% -221 -21%
Commercial
  Current Period 26  $            16,204,017  $  623,321  $  330,000 85
  One Year Ago 30  $              11,881,497  $    396,049  $  257,500 98
Increase / Decrease -4 -13%  $            4,322,520 36%  $  227,272 57%  $  72,500 28% -13 -13%
All Classes
  Current Period 2082  $          667,558,254  $     320,633  $  265,000 2439
  One Year Ago 2097  $          658,829,940  $     314,177  $  249,900 2859
Increase / Decrease -15 -1%  $          8,728,314 1%  $       6,456 2%  $    15,100 6% -420 -15%
Year to Date Comparison – Residential Property
Qty Sold % Chg Volume Sold % Chg Average Sale % Chg Median Sale % Chg
Single Family Detached
  Current Period 1365  $          531,400,381  $     389,304  $  314,000
  One Year Ago 1413  $          542,597,227  $     384,003  $  296,900
Increase / Decrease -48 -3%  $            (11,196,846) -2%  $       5,301 1%  $   17,100 6%
Condominium
  Current Period 164  $           41,840,519  $     255,125  $  234,950
  One Year Ago 132  $            31,704,705  $     240,187  $  221,250
Increase / Decrease 32 24%  $            10,135,814 32%  $       14,938 6%  $    13,700 6%
All Residential
  Current Period 1608  $          591,264,278  $     367,701  $  295,000
  One Year Ago 1644  $          591,310,130  $     359,677  $  285,750
Increase / Decrease -36 -2%  $            -45,852 0%  $       8,024 2%  $   9,250 3%
Year to Date Comparison – Land Sales
Qty Sold % Chg Volume Sold % Chg Average Sale % Chg Median Sale % Chg
Land – Residential
  Current Period 409  $            50,348,315  $       123,101  $    74,500
  One Year Ago 392  $            51,434,235  $     131,209  $    75,000
Increase / Decrease 17 4%  $          -1,085,920 -2%  $     (8,108) -6%  $     (500) -1%
All Land
  Current Period 448  $           60,089,959  $       134,129  $    73,500
  One Year Ago 323  $            55,638,313  $     131,532  $    75,000
Increase / Decrease 25 6%  $            4,451,646 8%  $     2,597 2%  $     (1,500) -2%
Year to Date Comparison – Distressed Properties
Qty Sold % Chg Volume Sold % Chg Average Sale % Chg Median Sale % Chg
Residential – Short Sale
  Current Period 28  $            13,531,400  $    483,264  $  297,500
  One Year Ago 70  $            25,648,007  $     366,400  $  297,500
Increase / Decrease -42 -60%  $             (12,116,607) -47%  $       116,864 32%  $   0 0%
Residential – Bank Owned
  Current Period 71  $            17,622,028  $     248,197  $  194,000
  One Year Ago 96  $            23,441,350  $     244,180  $  176,812
Increase / Decrease -25 -26%  $          (5,819,322) -25%  $       4,017 2%  $  17,188 10%
All Residential – Distressed
  Current Period 99  $            31,153,428  $     731,461  $  491,500
  One Year Ago 166  $            49,089,357  $     610,580  $  474,312
Increase / Decrease -67 -40%  $          (17,935,929) -37%  $     120,881 20%  $    17,188 4%
Corolla Real Estate Sales
Units Sold
Jan Feb Mar April May June July Aug Sept Oct Nov Dec YTD
2012 12 13 26 14 22 20 12 15 9 19 29 12 204
2013 11 11 17 23 19 14 12 16 5 19 16 16 179
2014 9 9 12 17 16 19 12 15 20 13 11 24 177
2015 17 14 17 21 18 30 16 17 19 10 16 21 216
2016 18 11  14  25  26  25  17  21  19  19  19 212
Duck Real Estate Sales
Units Sold
Jan Feb Mar April May June July Aug Sept Oct Nov Dec YTD
2012 11 8 9 6 8 7 9 8 10 12 6 6 100
2013 5 7 8 6 14 13 7 6 8 8 6 7 95
2014 5 6 9 9 17 11 4 6 3 9 4 13 96
2015 8 6 7 10 12 10 7 8 11 2 7 12 100
2016 6 4  12 8  10  15  6  4  6  7  9 86
Southern Shores Real Estate Sales
Units Sold
Jan Feb Mar April May June July Aug Sept Oct Nov Dec YTD
2012 10 5 9 6 7 6 9 7 9 5 12 5 90
2013 4 6 9 6 4 6 9 6 8 3 3 13 74
2014 8 3 7 10 20 4 4 7 7 7 10 7 97
2015 9 4 5 10 11 6 11 8 6 4 10 13 97
2016 6 2  4  9  7  7  8  5  5  11  6 70
Kitty Hawk Real Estate Sales
Units Sold
Jan Feb Mar April May June July Aug Sept Oct Nov Dec YTD
2012 8 7 6 7 10 8 7 8 7 8 7 5 88
2013 5 6 7 10 10 9 11 6 4 7 9 10 94
2014 4 2 8 11 15 6 9 10 5 11 5 7 93
2015 5 6 9 5 19 6 12 10 5 5 11 8 101
2016 7 6  8  8  6  12  7 6  9  8  11  88
Colington Real Estate Sales
Units Sold
Jan Feb Mar April May June July Aug Sept Oct Nov Dec YTD
2012 1 7 13 10 12 8 2 11 6 2 3 9 84
2013 5 7 7 8 4 12 4 8 8 6 4 4 77
2014 6 2 4 13 8 2 8 3 10 11 6 11 84
2015 5 5 6 11 12 13 9 16 7 14 9 7 114
2016 11 7  8  11  10  7  8  9  14  12  10 108
Kill Devil Hills Real Estate Sales
Units Sold
Jan Feb Mar April May June July Aug Sept Oct Nov Dec YTD
2012 7 12 24 24 25 23 18 15 23 20 13 19 223
2013 14 14 21 40 30 23 26 16 21 14 19 19 257
2014 16 14 21 21 26 26 19 16 26 21 22 20 248
2015 10 23 26 21 31 30 25 26 21 27 24 16 280
2016 12 17  22  23  34  31  20  30  21  27  20 256
Nags Head Real Estate Sales
Units Sold
Jan Feb Mar April May June July Aug Sept Oct Nov Dec YTD
2012 10 11 17 17 22 19 12 12 14 12 18 20 184
2013 10 5 10 16 20 11 20 20 22 7 17 15 173
2014 14 7 8 18 22 12 12 15 23 18 16 15 180
2015 11 12 14 20 32 18 8 14 14 19 16 19 197
2016 12 12  23  22  22  14  16  9  20  13  12 176
Hatteras Island Real Estate Sales
Units Sold
Jan Feb Mar April May June July Aug Sept Oct Nov Dec YTD
2012 14 19 27 22 25 15 18 15 17 12 19 14 217
2013 12 10 18 25 17 18 16 17 16 14 10 14 187
2014 11 14 13 12 22 22 13 15 19 20 18 27 208
2015 13 13 18 19 25 17 26 18 22 26 12 15 224
2016 10 14  16  23  26  26  27  25  18  13  14 212
Roanoke Island Real Estate Sales
Units Sold
Jan Feb Mar April May June July Aug Sept Oct Nov Dec YTD
2012 4 7 7 2 5 7 10 9 17 15 7 7 98
2013 4 8 9 9 10 8 19 10 6 10 6 2 101
2014 11 8 7 13 11 8 14 14 11 9 6 5 117
2015 2 2 10 10 3 19 11 8 16 15 10 13 119
2016 6 7  9  11  11  20  18  21  13  13  11 143
Currituck Mainland Real Estate Sales
Units Sold
Jan Feb Mar April May June July Aug Sept Oct Nov Dec YTD
2012 14 13 17 13 16 19 17 12 19 19 9 7 175
2013 10 7 17 11 20 21 18 19 14 14 11 13 166
2014 9 10 10 15 19 23 14 14 11 11 9 9 155
2015 8 8 16 15 25 22 27 10 9 18 16 10 184
2016 16 10  14  9  14  17  17  14  17  12  12 152
 Corolla Real Estate Values
Year  Median Sales Price Percent Change
2012  $               500,000.00 -5%
2013  $               480,000.00 -4%
2014  $               470,000.00 -2%
2015  $               493,950.00 5%
2016  $               425,000.00 -14%
 2016 numbers reflect year to date values
 Duck Real Estate Values
Year  Median Sales Price Percent Change
2012  $               479,500.00 -18%
2013  $               499,900.00 4%
2014  $               511,250.00 2%
2015  $               442,000.00 -14%
2016  $               444,500.00 1%
 2016 numbers reflect year to date values
 Southern Shores Real Estate Values
Year  Median Sales Price Percent Change
2012  $               400,000.00 -6%
2013  $               420,000.00 5%
2014  $               430,000.00 2%
2015  $               360,000.00 -16%
2016  $               399,700.00 11%
 2016 numbers reflect year to date values
 Kitty Hawk Real Estate Values
Year  Median Sales Price Percent Change
2012  $               291,500.00 11%
2013  $               262,000.00 -10%
2014  $               285,000.00 9%
2015  $               309,000.00 8%
2016  $               305,000.00 -1%
 2016 numbers reflect year to date values
 Colington Real Estate Values
Year  Median Sales Price Percent Change
2012  $               204,500.00 11%
2013  $               215,000.00 5%
2014  $               214,000.00 0%
2015  $               239,000.00 12%
2016  $               234,500.00 -2%
 2016 numbers reflect year to date values
 Town of Kill Devil Hills  Real   Estate Values
Year  Median Sales Price Percent Change
2012  $               215,000.00 2%
2013  $               214,500.00 0%
2014  $               239,000.00 11%
2015  $               236,000.00 -1%
2016  $               266,075.00 13%
 2016 numbers reflect year to date values
 Town of Nags Head Real Estate Values
Year  Median Sales Price Percent Change
2012  $               342,500.00 7%
2013  $               335,000.00 -2%
2014  $               350,000.00 4%
2015  $               363,500.00 4%
2016  $               387,000.00 6%
 2016 numbers reflect year to date values
 Hatteras Island Real Estate Values
Year  Median Sales Price Percent Change
2012  $               292,500.00 2%
2013  $               285,000.00 -3%
2014  $               263,775.00 -9%
2015  $               262,250.00 -1%
2016  $               266,950.00 2%
 2016 numbers reflect year to date values
 Roanoke Island Real Estate Values
Year  Median Sales Price Percent Change
2012  $               258,000.00 3%
2013  $               222,000.00 -14%
2014  $               260,000.00 17%
2015  $               245,100.00 -6%
2016  $               263,667.00 8%
 2016 numbers reflect year to date values
 Currituck Mainland Real Estate Values
Year  Median Sales Price Percent Change
2012  $               180,000.00 1%
2013  $               197,000.00 9%
2014  $               210,000.00 7%
2015  $               221,200.00 5%
2016  $               238,561.00 8%
 2016 numbers reflect year to date values
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