Congratulations, you have officially made it through the first half of 2020! Although there might not have been any fireworks or large friends and family barbecues to celebrate the holiday, we hope everyone was able to enjoy their 4th of July regardless of the current conditions!
June was another month that had everyone scratching their heads wondering if the sun will ever come back out and if the country will ever fully rebound from any of the current issues. Many of us are in a state of awe just trying to guess what the next few months will be like here on the beach, not even trying to predict further than that. First and foremost, the new normal isn’t the most appealing for many of us. Yes, the mandated face masks keep us from being able to spread the virus, but they also prevent a smile as a simple greeting or to change the course of any conversation. As each state grapples with its own approach of controlling the outbreak, visitors and locals alike are not sure of how to go about restructuring their vacations or daily routines. Truth be told, it might be harder to really relax and enjoy the beach, but it’s something we should all try to do to remain calm, amicable, and cordial with each other. We must be patient and understand that this isn’t how things usually are on the beach.
Whether it’s the lack of ability to vacation outside the US, the proximity to a few major cities, or the notion of its being easier to social distance here, the Outer Banks is experiencing some of the highest volumes of vacationers it has seen in over a decade. Rental companies, restaurants, and all of the local businesses are working harder to keep up with the demand and at the same time dealing with new protocols.
In local news, both Dare and Currituck counties are working diligently to keep everyone informed with virus updates and current conditions on their websites. This has been helpful for travelers who might not understand what is required (masks) or if there is any cause for concern when traveling to the area. Another topic which we have mentioned numerous times since 2016, is the Dare County Flood Map. Alas, that is officially in effect! This map has been the subject of many discussions for several years and was finally put in place as of June 19. There are still questions about the approval and if it is accurate, but it’s in place now and that is what is being used to determine flood insurance plans and quotes.
In real estate news, the market continues to break all kinds of records. If you look at the statistics report attached, the number of properties under contract for June shows a significant increase from May. It’s important to note that May had a huge spike from April which amplifies the surge for June. The number of multiple offers and back-up offers on properties is off the charts. Although many parts of the country are experiencing a real estate slow down, our local market along with other resort areas are leading the country with sales. Very shortly after the onset of this virus in March, many contracts fell apart due to financial advisers giving caution to their clients. This concern has greatly changed in the last two months. More people who might not have thought about purchasing a home along the Outer Banks are coming to discuss this option now. Perhaps it’s the threat of another lockdown or people not wanting to miss out on one of their lifelong dreams, but buyers are flocking to the beach. We hope this trend continues to stay this way for a long time!
We’ve included the OBAR statistics for June* for your review. If you would like a more tailored report with specific figures for your neighborhood, please let us know.
If you’ve been thinking about selling, we are happy to assist you with a free market analysis of your property. If you or anyone you know is interested in buying a property, we would love to help find the perfect home on the Outer Banks. Please note we are more than happy to preview homes for anyone, and we can video call from a property if that is of interest to you.
The OBX Homes Team is making an effort to help the environment and decrease our paper output. If you’d like to help in reducing our paper use, please send us a current email so we can add you to our paperless mailing list. We will send you an email each month with a copy of our updated owner note and statistics report. We appreciate your effort to help with this and thank you. We will continue with owner mailings to those who wish to receive them by mail.
Please don’t hesitate to call or email us if you have any questions or should you need anything at all.
Stay safe and stay healthy,
The OBX Homes Team
