Aside from Hurricane Arthur early in July, the weather was very pleasant most all month. We had the normal 5.2 inches of rain, and temperatures were mild. As of this writing, tropical storm Bertha is off our coast at a safe distance. The surfers are happy, but rip currents are high, and visitors should use caution.
In real estate news, things are going great. We did experience our typical summer slow down, but it was brief, and things are hopping again now. We are expecting great sales this fall. As of the first half of this year, total sales volume was up by 11%. Inventory saw a slight increase early summer but nothing to worry about. Bank-owned and distressed sale inventory is down by 43%, which is very encouraging. The actual number of county foreclosures is also down dramatically by 44%.
We are enclosing an article about the upcoming Duck beach nourishment project. The project is scheduled to begin in 2016. Also of note is the Tall Pine Bridge project, which will begin in January of 2015. Tall Pine is the bridge on South Dogwood Trail in Southern Shores between Fairway Drive and Tall Pine. At this time, we are not sure how long the new bridge project will take, but we are very hopeful it will be done by the summer of 2015. Otherwise, there will be no direct access to highway 158 via Dogwood Trail. We will keep you posted on this and all other Outer Banks news. Enjoy the last weeks of your summer, and as always, we’d love to hear from you.
