Market Update: Outer Banks, North Carolina
Dare County
The real estate market in Dare County is trending toward a balanced market this year, with 4.75 months of inventory overall. List-to-sold price ratios have dipped slightly to 96.7%, which is typical for this time of year. The average Days on Market (DOM) is 47 days, and the average sold price for properties is approximately $625,000. As the market shifts, it’s essential to consult with your agent on whether your home’s pricing aligns with market conditions and if it’s effectively marketed.
Currituck County
Currituck County has seen an increase in inventory, currently at 4.77 months, indicating a move toward a balanced market. The list-to-sold price ratio stands at 97.3%, and the DOM has dropped to 19 days, showing homes are still selling relatively quickly. The average sold price in Currituck County is $505,000. Pricing strategy is critical in this evolving market to ensure your property sells successfully.
Market Update: Northeastern North Carolina
Camden County
Camden remains a strong seller’s market, with only 2.13 months of inventory available. The list-to-sold price ratio is 99.7%, and homes are selling faster, with a DOM of 27 days—down by 56 days from the previous month. The average sold price here is around $400,000. Camden’s market has been particularly robust since August, partly driven by the influx of military personnel and new developments in the area.
Pasquotank County
Incorporating Elizabeth City, Pasquotank is experiencing a revitalization in 2023, with growth and improvements across the area. It’s currently a strong seller’s market, with an inventory of 2.21 months. The list-to-sold price ratio is 98.8%, and homes are selling swiftly, with a DOM of just 20 days. The average sold price for properties in Pasquotank County is around $306,205. This region’s revitalization and appeal are boosting its real estate activity.
Market Summary
Dare and Currituck counties are shifting towards a more balanced market, while Camden and Pasquotank continue to favor sellers. In today’s market, accurate pricing and strategic marketing are more critical than ever to achieve your selling goals.
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