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March 2021 - Outer Banks Market Update

Usually, when we're talking about "mid to upper 80s," we're referring to gorgeous Outer Banks beach days. But in this case, we're referring to OBX real estate sales. Sales are up 86% month for the month of March and up 80% for the year!

Accordingly, median sales prices are up 37% over last year. While great news for homeowners, buyers may be in a more tricky situation. Residential Inventory is down 72%.  Properties come on the market and are under contract within a day - sometimes even just an hour or two. It can be challenging finding the right property before it goes into a pending status. Buyers don't want to lose out on this incredible opportunity while interest rates are so low, but it can be a challenge to be first in line for that perfect property.

That's why it is so important to work with an experienced Realtor who has the skill set to make sure you're first in the know about new properties on the market. There is a brief delay from when a property is entered into our Multiple Listing Service vs when it is filtered out to 3rd party advertisers for consumers to see: such as Zillow,, Trulia, etc Working with a knowledgeable Realtor can give you a leg up and beat out the competition when prime properties come on the market.

Please see the Outer Banks Association of Realtors March 2021 MLS Statistical Report for more information. Not working with a Realtor but want to learn more? Contact one of our experienced agents today!

Based on information obtained from the Outer Banks Association of Realtors for March 2020-2021. 

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