What’s happening in the OBX real estate market? It’s amazing to think that we’re getting ready to end the first quarter of the year! Here are some statistics from the first couple of months in 2018:
· January saw the highest residential sales volume since 2006, but single family home sales were down in February by 17% and condo sales were down 9% in February.
· Lot/Land sales were 19% higher in February 2018 than they were in 2017, and inventory is down by 18%.
· Commercial sales- There are no are commercial sales so far in 2018.
*INVENTORY IS DOWN! Now is the time to put your home on the market, if you’ve been thinking of doing so!
*Information and graph from the Outer Banks Association of Realtors Feb. 2018 MLS Statistical Report. Information contained herein is deemed reliable but not guaranteed.