obx sandbar living monthly market update

Hello, February!

Hopefully you are managing to survive the seemingly never-ending winter months while otherwise thriving in the new year!

Here on the Outer Banks, we had our once-in-a-decade “snowmageddon” event a few weeks ago! The snow was beautiful while it fell, and certainly provided a peaceful few days of “snowhere” to go, but we’re ready to shift gears and watch the spring market bloom! We have several new listings that have hit the market recently, so if you or a friend are looking to make your move, be sure to keep an eye on our listings page so you’ll be the first to see what’s new.

As always, if you have questions about a specific property or neighborhood, we’d love to help, so please don’t hesitate to contact us!

-Danielle

Outer Banks Real Estate Market-at-a-Glance for Year-End 2024

Sold and Under Contract Analysis

SINGLE FAMILY RESIDENTIAL:

  • YTD residential sales units are up 16% versus YTD 2024 

  • YTD residential sales dollars are up 19.7% vs. YTD 2024

  • YTD median sale price was $700,000, up 2% vs. YTD 2024

  • Sales units January ‘25 over December ‘24 were down 15%   

    • New listing inventory for January was up 79% versus December

  • As a comparison, new listings for January ‘25 were up 16% versus January ‘24

  • January residential sales volume was down 17% vs. December 2024 

  • Sales units are up year-over-year (16%); however, month-over-month, January 2025 units were down by 15% versus the month prior, with an influx of new listings to boot. We’re definitely seeing increased listing activity across the board, with new listings up almost 17% month over month. As you might recall, new listings were down in December, so it’s possible we’re playing a game of “catch up” in January’s new listings. Stay tuned!

    Let's look at month-over-month:

  • Median sale price for all Residential property sold in January was $700,000--up 3.3% versus December ‘24. 

  • January 2025's median sale price was up 1.8% versus January 2024.     

  • January ‘25 vs. January ‘24, residential properties sold 37% slower, but at a 1.8% higher median sold price. The recent rise in new inventory, along with prolonged wintry weather conditions in our feeder markets, are among the factors behind the increased days on market. Again, it will be interesting to see how these numbers change as we enter the spring season.

    RESIDENTIAL LOTS AND LAND:

  • YTD residential land sales units are flat versus YTD 2024. 

  • YTD residential land sales dollars are down 22% versus YTD 2024. 

  • YTD residential land median sold price is $182,500, down 41% versus YTD 2024. 

  • January residential land sales units were up 33% versus December 2024. 

  • January residential land sales dollars were up 55% versus December ‘24.

inventory analysis

  • New listing inventory for January 2025 was up 17% versus January 2024, and up 79% versus December’s new listings.

    • Drilling down, 159 new residential listings hit the market in January 2025, with 34.6% of those properties already sold or under contract.

    • Average days on market for these is 11; median days on market is 9 (the new, good inventory is still moving fast!).

    • Of the properties that have closed, 40% were cash transactions and 20% disclosed multiple offers (disclosure of multiple offers is not required by our MLS).

  • See the chart below for the full breakdown by area…

Inventory Analysis by Area YTD 2025

If you’d like to get more hyper-local with your neighborhood or area, please feel free to contact me!

days on market and distressed data analysis

  • Average days on market for SOLD residential properties in January was 67, up 19.6% from December’s average of 71 days. 

  • The average home sold 36.7% slower in January 2025 (67 days) versus January 2024 (49 days).   

  • The Median days on market in January was 50, meaning that half of the sold units did so in 50 days or less. 

  • Average days on market for all current ACTIVE residential listings is 111 days (down 4.3% versus 116 days in December). 

  • Month-over-month, the average days on market for Under Contract properties is 72 days (down 12% from 79 days in December ‘24). 

  • 34.6% of properties listed in January have already gone under contract or sold with an average days on market of 11. 

  • It still rings true that homes that are priced consistent with their condition and/or are located in high demand areas per the chart above are still moving quickly and with multiple offers.

  • There were 0 distressed residential listings sold in January 2025 (down from 2 in December 2024 and 2 in January 2024).

  • There was 1 distressed active residential listings as of January 31, 2025; up from 0 in December 2024 and down from 2 in January 2024.

Year-Over-Year Market Comparison

pricing analysis

Residential Median Sale Price for YTD 2024 was $700,000, which was up 2% versus the year prior.

You’ll find a breakdown by price point below:

Year-over-Year Sales Comparison by Price Point

area data at-a-glance

*Note: Of all Outer Banks towns, Duck has the highest proportion of Co-Ownerships vs. other residential property types. The median price for Duck is skewed due to a disproportionate number of co-ownerships sold; the median price for sold residential properties YTD 2025 excluding Co-Ownerships is $1,200,000.

*All market data presented is courtesy of the Outer Banks Association of REALTORS MLS Single Family Residential, Jan 1 - Dec 31 2024 and Jan 1 - Jan 31, 2025.


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