Someone once joked (unknown) “Why isn’t suntanning an Olympic sport? Because the best you can ever get is bronze.” Crazy enough, that could be considered comparable to a gold medal in the Outer Banks after the rainy weather pattern we’ve had for the past few weeks! Dear rain, please go away and bring back the sun!
It is our great honor to announce Heather was selected among America’s Top 100 Real Estate Agents® for North Carolina – Greater North Carolina in 2021. According to “America’s Top 100,” this is based on her years of exceptional real estate sales above market value in luxury or high-volume markets. This achievement is awarded to the Top 1% of real estate brokers in the state, and she will be included among the ranks of some of the most esteemed and successful real estate professionals in America. This recognition is not taken lightly by Heather. She is humbled and forever grateful for each of you for helping her achieve this substantial milestone! Congratulations, Heather, and thank you all for making this possible for her!
In real estate news, the volume of sales continues to cool off from the astounding levels from earlier this year. This is normal for our local market during the summer months; however, it is worth noting the residential sales for July were up 65% compared to the same time period last year. In contrast to the declining residential sales, the increase in demand for lots/ vacant land has unveiled a new trend. Prospective buyers who cannot compete with the prices in the current market for existing homes have changed course and redirected their search for another option. Since the prices of lumber have settled back to a reasonable level, and record-high prices are dampening their buying power, buyers are exploring this substitute as an alternative to paying more than they want to. They are willing to forgo purchasing an existing house now in hopes of building one when the time is right or more affordable for them. Sellers still have the upper hand in the current market, but as we see inventory picking up and buyers shifting their focus, it might be a sign the market is trying to stabilize.
We’ve included the OBAR statistics for July* 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.
Please don’t hesitate to call or email us if you have any questions or should you need anything at all.
Stay well,
The OBX Homes Team
