Outer Banks Market Report Q2 2010
Highlights:
Under Contracts Surge
status since 2005. Additionally, the number of listings that are in an Under Contract status is up 42% from June 2009
and 8% from May of this year. Should we be dancing in the streets?
The bright spots include:
*soared – showing a 522% increase in sales (56 units).
*of 2009 and second quarter sales showed a 24% increase over the second quarter of 2009.
*showed a 37% and a 36% increase over their respective quarters in 2009.
Property sales continue to account for 40% of all residential property sales even though they only account for 13% of all active listings.
- Single family home sales rose 11% in June (127 units vs. 114 units in 2009). Distressed
Price Range Units Sold Average Days on Market
$100,000 – $199,000 29 146
$300,000 – $399,999 29 141
$200,000 – $299,999 23 153
- The fastest moving properties fell into the following categories:
*.06% from June 2009 ($325,000).
*June 2009 ($320,000).
Inventory from the same time last year (2,439 units). The majority of the current active home listings fall in the following price ranges:
Price Range Number of Listings Price Range Number of Listings
$1 – $99,999 60 $400K – $499K 292
$100K – $199K 269 $500K – $599K 220
$200K – $299K 413 $600K – $699K 173
$300K – $399K 418 $700K – $799K 112
- The inventory of homes for sale at the end of June was 2,283 units, reflecting a 6% decline in