We’ve been lucky thus far, and old man winter has been fairly kind to us. Despite a minimal snow fall towards the end of the month, most of January was pleasant. We even spent some days at the park in short sleeves, and our greens are still thriving in the backyard garden. Martin Luther King weekend brought a hearty crowd to the Outer Banks too. We continue to notice an increasing number of winter visitors to our area, therefore decreasing our “off season” each year. We expect Presidents’ Day weekend to be almost summer-like with the weekend influx.
We are finally beginning to see sales picking up after a long, but typical, holiday respite. The number of properties placed under contract is once again on the upswing, and our listings are being shown regularly again. We expect things to pick up with haste as spring and summer approach. Spring remains our busiest time of year for sales, as the lure of beach property attracts even the most conservative of investors this time of year. With summer rental income on the books, and interest rates at their lowest since the early 70’s, the timing simply couldn’t be better. Inventory has steadily declined since 2010, but there are still plenty of attractive properties available. The decline in foreclosure filings is helping to stabilize our market. Distressed property sales also continue to decline. The market is making a slow and steady comeback, as we predicted it would.
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