Happy New Year!
With a new year, comes new ideas and new opportunities. With that in mind we wanted to take advantage of the amazing monthly statistical reporting from our MLS board. From now on, we will be posting these market stats as they become available (around the first of the month). Please keep in mind that these stats are for the entire Outer Banks region.
As always, if you have any questions or comments after reviewing the stats please let me know. Call, Text or Email Matt at anytime – 252.207.6588 or Matt@MattMyatt.com.
Summary
- Sales: Total November sales – 206 units (November 2016 – 167 units). Residential volume sold – $67,467,439 (2016 – $55,721,992).
- Under – contract: Units listed as under contract decreased by 6% (390 vs 413 Units) from October 2017; however, they are up 5% from November 2016.
- Average Home Price: The average price for a single – family detached home in November was $401,024, up slightly (4%) from November 2016. The average price for a condominium in November was down 1% from November 2016.
- Median Home Price: The median price for a single – family detached home in November 2017 was $325,000, up 5% from November 2016. The median price for a condominium was $287,440, up 28% from November 2016.
- Inventories: Residential inventory was down by 5%, Lots / Land inventory was down 10%, and commercial inventory was down by 24%.
- New Construction: As of October 2017, the number of new c construction building permits were down 14% from 2016 (250 units vs 2 92 units). Total building permit value for 2017 was down 5% from 2016.
- Days on the Market: For all residential units listed in the MLS, the average Days on the Market (Y – O – Y) was d own by 44% (143 vs 2 54). It should also be noted that for the 1062 units that were listed and sold in 2017 the average days on the market was just 53 days.
For a full list of November 2017 MLS stats please use the following link – November MLS Stats.