Here are the latest OBX Real Estate Stats. As we hit the last 2 months of 2024 the Outer Banks real estate market has taken a breather from the frantic pace of the last few years.  The market is certainly feeling the effects of high interest rates with the number of sales down drastically down from 2023.  The rise in rates has put buyers on the sidelines waiting for rates to come down. Inventory is starting to grow and the one bright spot for buyers is we are starting to see more price reductions and negotiations take place. Prices are coming down off the all-time highs from earlier this year. Since June the average sold price has decreased ever so slightly each month for the first time in 5 years. For now, it looks like we have seen the peak of prices on the Outer Banks. Time will tell if this is temporary or the beginning of a downward trend. While the buyer pool is drastically less than previous years. There are still those looking to invest in the Outer Banks, especially cash buyers, representing approx. 40% of all sales.

The big questions as we move into the end of 2024 are 1) Will prices continue to fall and by how much 2) How long will it take for inventory to get back to normal levels 3) How far will the FED drop interest rates this year?? Rates have fallen to the mid 6%-7% range and my lenders are telling me we could see interest rates hit 6% by spring 2025.  At this point I don’t see a huge price correction coming like 2008 when prices dropped 40%.  With so many buyers on the sidelines if rates do drop, I see buyers coming back in force which should keep prices level for the next year. Inventory could take another 12-18 months to recover to normal levels if the buyers do show back up. Long term the market outlook is still very positive. Each year so many first-time visitors discover the Outer Banks, creating a new set of homebuyers, that will keep the market moving for years to come. Whether you are looking for a 2nd home, investment, primary, or retirement property there is a property out there for you.

If you have a house to sell or know anyone that wants to sell now is the time. It does not cost you anything to find out what I can sell your property for with a Free Home Valuation. If you are a buyer that wants to stay up to date on the market sign up for free Market Report for the town you are interested in. The Market Report is emailed to you each week with new listings, sold listings, and price changes. You can also sign up for a Listing Manager account where you can set your own search parameters for the properties you are interested in.

Since 2003 Matt ranks in the top 7% of all Realtors on the Outer Banks in total sales volume and number of houses sold. Contact Matt today to get the process started to find your Outer Banks property.

Disclaimer: This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by the OBAR MLS is for its own use and may not reflect all real estate activity in the market. Data provided from 2003 to 2024

For those of you that love numbers this page is for you!! Check back each month for the latest stats on the Outer Banks Real Estate Market. The information below is for the towns of Corolla, Duck, Southern Shores, Kitty Hawk, Kill Devil Hills, Nags Head, Rodanthe, Waves, Salvo, Avon, Buxton, Frisco, Hatteras, and Pirates Cove. The stats are for single family residential properties, condo’s, and townhouses. Land and commercial properties are NOT included in these stats.

Disclaimer: This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by the OBAR MLS is for its own use and may not reflect all real estate activity in the market. Data provided from 2003 to 2024