January 2010 Outer Banks Real Estate Overview

The OBX Team recently offered a great recap of the January 2010 real estate market on the Outer Banks. 

Posted by The OBX Team on Wednesday, February 17th, 2010. 

The OBX real estate market saw an increase of 102% for residential sales in January 2010 compared to January 2009; 82 sales in 2010 to 40 sales in January 2009.  Distress sales, bank owned homes and short sales made up 40% of all sales.  If January is any indicator of the coming spring, we are looking at a much improving real estate market on the Outer Banks.

OBX January Real Estate Highlights

• 22 homes sold in the $300,000 – $399,000 price range 
• $100,000 increase in residential median sold price
• An 11 percent decline in total inventory of homes
• Residential Sales doubled January 2009 to January 2010