My New Blog

Hi Everyone,

Just an update on the market here - hope everyone had a great Father's Day weekend and you are all finding ways to best the heat - like going to the ocean here in the beautiful Outer Banks!

There are still 2359 residential properties in our market active on/ or near the Outer Banks. There were only 135 sold in April and an increase in May to 204. Interest rates remain below 5% and inventory obviously remains high.  Buyers out there are calling the shots, but some deals are falling thru because the sellers simply can't afford them. Average sold price is still about 91-92% of the listed price and that much is holding pretty steady with a few exceptions.

If you have been waiting to buy - the time may be now. There are a few rumblings of 90-100% financing starting from a few sources - time will tell.

Take care and call if you are coming down  ...  Carol