Duck Village is a beautiful spot on the outer banks and it has the highest average median price out of all townships(calculated from 2009 until 2012). Duck is $550,563 and Corolla's average is $536,559. The number continues to go down as you move south. Southern Shores is the 3rd highest average in median sales price and Nags Head is 4th.
The median sales price in Duck is down 17% from the median price range in 2011, however the number of homes sold in October 2012 was the most number of homes sold in Duck in years for October. I tried to calculate as far back as our MLS would let me, and could not find a higher number sold in October. This number even beat the homes sold in October of 2005 when there were only 9 homes sold.
What's this mean to our market? This tells us buyers are definitely here and investing in OBX real estate. Values are the lowest we've seen in years, and interest rates are at historical lows, so why not take advantage of these values if you're a buyer. If you're a seller and NEED to sell, price your house accordingly as you will get an offer. As we saw in last post over all inventory is down on the outer banks which is great news for our sellers, as they don't have the competition they had last year at this time.
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