Fall Housing Market Update for the Outer Banks of North Carolina

John Head Colony Realty Corporation Podcast

While the local housing market is fine for now, things may get even better soon.

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How is this fall looking for potential homebuyers and sellers? Let’s take a look.
Firstly, the market seems to be stalling out a bit—something that’s happening not just here, but throughout the country. Interest rate rises and a few big storms factor into this, but we’re hoping for a market increase in November, where numbers have historically been high.
If you’re thinking of buying, it’s still a good time. We haven’t rebounded to pre-recession prices, but there is at least some stability for home sellers and buyers.
In the video, I mention an MLS reporting for the Outer Banks area; if you'd like that information, click here.
Here are the numbers I’ve found:
Under-contract listings are down by 17%, and the absorption rate (weeks it takes to sell current inventory at the present rate of sales) is up by 36%. Right now, we have about eight months’ worth of inventory.

We haven’t rebounded to pre-recession prices, but there is at least some stability for home sellers and buyers.

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