May 2022 News:

In like a lion… oh wait, isn’t that supposed to be March? We have all been scratching our heads as May has rushed in like a lion with a late season nor’easter and chilly temperatures. Hopefully, all of the showers will bring some beautiful May flowers and warmer weather soon!

In real estate news, the pace has slowed just a bit. Continuous rising interest rates seem to be cooling the jets for some buyers. A property that is priced correctly, and not aggressively is still getting multiple offers and we are still seeing some selling for considerably over-asking price. Homes that have gone on the market at a price too high are seeing longer days on the market. Drastically low inventory continues to be problematic for buyers. As always, each town is slightly different so we are breaking it down for you……..

4×4 Area (Carova): 6 homes for sale, 7 homes are under contract, and 23 homes have sold year to date. Average sales price: $788,495 The average sale is 98% of asking price.

Average days on market: 27

Corolla: 40 homes for sale, 90 homes are under contract and 123 homes have sold year to date. Average sale price: $1,150,123. The average sale is 98% of asking price.

Average days on market: 40

Duck: 10 homes for sale, 12 homes are under contract, and 65 homes have sold year to date. Average sale price: $1,211,545 and the average sale is 99% of asking price.

Average days on market: 36

Southern Shores: 6 homes for sale, 21 homes are under contract, and 44 homes have sold year to date. The average sales price is $994,949. The average sale is 99% of asking price.

Average days on market: 33

Martins Point: 4 homes for sale, 3 homes are under contrac, and16 homes have sold year to date. The average sales price is $1,367,833. The average sale is 96% of asking price.

Average days on the market: 31

Kitty Hawk: 12 homes for sale, 21 homes are under contract, and 49 homes have sold year to date. The average sales price is $556,932. 

The average sale is 101% of asking price.

Average days on market has been 21

Kill Devil Hills: 31 homes for sale, 54 homes are under contract, and 159 homes have sold year to date. The average sales price is $592,846. The average sale is 101% of asking price. 

Average days on market has been 30

Nags Head: 21 homes for sale, 25 homes are under contract, and 96 homes have sold year to date. The average sales price is $1,151,715. The average sale is 99% of asking price.

Average days on market: 32

Manteo: 9 homes for sale, 23 homes are under contract, and 51 homes have sold year to date. The average sales price is $494,037. The average sale is 98% of asking price.

Average days on market: 48

Colington Areas: 11 homes for sale, 21 homes are under contract, and 40 homes have sold year to date. The average sales price is $521,231. The average sale is 98% of asking price. Average days on market: 29

Take a look at our latest inventory here! https://www.homesnap.com/me

If you’ve been thinking of buying or selling now or in the future, please contact us today! We’d love to start working hard for you.

Catherine Strachan and Edith Rowe

OBX Real Estate Resource

Brindley Beach Vacation and Sales

Cell: (252) 489-9540