My New Blog

Hi -

Sorry to have been so long - a busy spring.

March sales here have actually been the highest since 2006 - 34% higher. Distressed properties ( foreclosures and short sales) are still taking up 41% of the sales market. Prices have still been coming down, though only slightly now. Inventory is also down - something else that may show a turn in prices since they are partly driven by supply and demand. Most sales have been below the 400,000 price range with the median single family home in all the OBX at 307,000 - though still higher (530,000) in the Corolla area.

Great rentals are available in the 300's now. Interrest rates continue some of the best ever and that is continuing to help fuel the market.

It's a great time to visit the Outer Banks with less crowds and warm temperatures - and there's still time to pick up those rental incomes. Rentals are on a record pace.

Hope you can come visit soon!

Carol