Outer Banks & Northeastern North Carolina Real Estate Market Report – April 2024

Welcome to our April 2024 Market Update! As a realtor serving the beautiful regions of Outer Banks and Northeastern North Carolina, I’m excited to share the latest insights and trends from our local real estate market. Whether you’re looking to buy, sell, or simply stay informed, this update will provide you with valuable information on what’s happening in Dare, Currituck, Camden, and Pasquotank Counties.

Dare County: A Closer Look
Dare County has experienced a significant increase in inventory over the past 12 months, rising by 78%. This means there are more homes available for buyers to choose from compared to last year. Despite this increase, sellers are still managing to sell their homes close to their asking price, with the listing-to-sold price ratio holding at 97.2%. This metric has seen a slight decline of just over half a percent, indicating a stable market.

Homes in Dare County are selling faster than before, with the median days on market down by 10% to just 28 days. This is great news for sellers who can expect their homes to sell quickly. The median sold price in Dare County stands at $600,700, reflecting the desirable nature of this coastal region.

Currituck County: A Strong Seller’s Market
Currituck County is showing signs of a strong seller’s market with a low supply of inventory at just 3.22%. Homes here are selling rapidly, with a median of only 17 days on the market. This quick turnover indicates high demand and limited supply, which is advantageous for sellers.

The median sold price in Currituck County is $534,900. However, the listing-to-sold price ratio has dropped significantly to 221%, which might indicate some unique pricing strategies or adjustments in the market.

Inner Outer Banks and Beyond: Camden and Pasquotank Counties

Camden County
In Camden County, the market is also favoring sellers. The inventory supply is at 3.3%, showing a tight market with limited options for buyers. The list-to-sold price ratio is an impressive 98.6%, suggesting that homes are selling very close to their asking prices.

Homes in Camden County are spending a bit more time on the market with a median of 43 days. The median sold price is $396,006, which provides a more affordable option compared to some other areas in the region.

Pasquotank County
Pasquotank County is experiencing a very strong seller’s market with the lowest supply of inventory among the counties we cover, at just 1.76%. Homes here are flying off the market with a median of only 15 days. This extremely low days on market figure highlights the high demand and competitive nature of the market in Pasquotank.

The median sold price in Pasquotank County is $324,950, making it one of the more affordable areas in Northeastern North Carolina. The list-to-sold price ratio is at 98.2%, indicating that sellers are achieving close to their asking prices.

What This Means for You
For Sellers: If you’re thinking about selling your home in any of these counties, now is a great time. The markets are strong, and homes are selling quickly and close to asking prices. This is particularly true in Pasquotank and Currituck Counties, where demand is very high.

For Buyers: While the market is competitive, there are still opportunities to find your dream home. With the increase in inventory in Dare County, there may be more options available. It’s important to act quickly, especially in areas with lower days on market like Pasquotank and Currituck Counties.

Overall, the real estate market in Outer Banks and Northeastern North Carolina remains robust and dynamic. Whether you’re buying or selling, staying informed about market trends will help you make the best decisions for your real estate needs. If you have any questions or need personalized advice, don’t hesitate to reach out. I’m here to help you navigate the market and achieve your real estate goals.

Thank you for reading our April 2024 Market Update. Stay tuned for more updates and insights in the coming months!

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