2014 OBX Market Review

The 2014 Outer Banks Real Estate Market ended up with a lot to be positive about.  According to the information released by the Outer Banks Association of Realtors® MLS, overall residential units sold increased by 5% in both units sold and overall sales volume.  Sales of single family homes unit sales remained stable compared to 2o13, however total volume and average sales price were up 6% . The number of foreclosures has declined by 34 % in Dare County and the sales of both short sales and bank owned properties declined in 2014.

Residential inventory increased slightly and there is over a years inventory available. This is likely to keep prices stable for 2015. With interest rates favorable, conditions are right for more properties to sell in 2015.

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