Agencia24
    Facebook Twitter Instagram
    Trending
    • Vengeance From a Saint Full of Wounds Spoiler
    • Apple builds on privacy commitment by unveiling new education and awareness efforts on Data Privacy Day
    • Idc yoy 39.9m Q1 Apple 12.7m/Complete Guidance
    • What is SEO and how it will work?
    • Txunamy Ortiz is a Young Social Media Personality, known as a TikTok and Instagram, StarDoes Txunamy Have a Tattoo?
    • What apps can give you money for free?
    • Which Bank gives Cheapest Business Loan?
    • Which analysis is best for cryptocurrency?
    Facebook Twitter Instagram
    Agencia24
    Saturday, January 28
    • Home
    • News
      • Technology
    • Digital Marketing
      • Seo
      • Rank
    • Application
    • Business
    • Crypto
    • Exchange
    • Contact
    Agencia24
    Home»Digital Marketing»The February Statistical Update from the Outer Banks Association of Realtors, just like last month,
    Digital Marketing

    The February Statistical Update from the Outer Banks Association of Realtors, just like last month,

    Agencia24.ComBy Agencia24.ComMarch 12, 2022Updated:December 23, 2022No Comments3 Mins Read
    Obx Real Estate March Update; February Obar Stats
    OBX real estate March update; February OBAR stats

    Historically low inventory is one of the major issues affecting the Outer Banks real estate market. High demand is another.
    The February Statistical Update from the Outer Banks Association of Realtors, just like last month, has the lack of inventory as the top bullet point at the beginning of their report. Total inventory is down 34%,  residential inventory down by 36%, lots/land down 34%, commercial down 30%. Compared to 2020 residential inventory is off 80%, lots and land down 49%.


    Total sales are down 17% with residential off 20%, lots/land down 7%  However, both are still way ahead compared to 2020 with residential up 36% and lot/land up 85%.

    While unit sales are down, sales volume is up! Residential is up 14%, lots/land up 11%. This is a result of the sales price increases we have had over the past few years. Nearly all of the individual geographic areas show an increase over last year. The total market’s median residential sales price was up 27% to $570,000, lot/land up 14% to $110,242. So, for example, even with residential unit sales down nearly 100 units, 20%, residential sales volume was up 14%.

    High demand for the meager amount of inventory is reducing the days-on-market for the year so far to 43 days, down from 82 days last year. The median days on market for the same period last year was 26, down to 17 in 2022.

    On the day OBAR retrieved their data for the report they noted “Interesting, there are only 78 residential listings that are priced at less than $400K and only 35 of these properties are on the Outer Banks between Corolla and Hatteras.” Even more interesting is that only 18 of those 35 have been listed this year. Take out the co-ownerships, where 5 plus weeks are sold, not the property itself, the number of available properties drops to 26 total, 13 listed in 2022.
    In my weekly reports, I track how fast the market is moving. For 2022 an average of 44% of new listings are under contract/sold/off the market in the first 7 days. 57% are under contract/sold/off the market in 14 days. For the four-week period beginning January 31st and ending February 27th 50% of new listings are under contract sold or off the market in the first 7 days, 63% in the first 14 days.

    The available properties are moving fast, but to compound the issue, the number of new listings coming to market is down 13% year-to-date. Fewer available properties selling faster creates a real headache for agents working with buyers! 75% of all of the new listings in 2022 are already off the market.
    If you have been waiting for the right time to sell this is it! With limited inventory, your home will be considered by many more buyers than in a steadier real estate market. Your home will stand out and face less competition. For buyers, we absolutely have to strategize to get you the property you want. This seller’s market requires different tactics in order to get your offer accepted. Your REALTOR® will work with you to develop a plan for your individual plan for success.

    agencia
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Agencia24.Com
    • Website

    Related Posts

    Vengeance From a Saint Full of Wounds Spoiler

    January 27, 2023

    What is SEO and how it will work?

    January 16, 2023

    Cutting Edge Theory of Project Management

    January 9, 2023

    Leave A Reply Cancel Reply

    Facebook Twitter Instagram Pinterest
    Copyright © 2023 Agencia 24 Inc | All Rights Reserved | Privacy Policy | Terms & Conditions

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
    Do not sell my personal information.
    Cookie SettingsAccept
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
    CookieDurationDescription
    cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
    cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
    cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
    cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
    cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
    viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
    Functional
    Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
    Performance
    Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
    Analytics
    Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
    Advertisement
    Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
    Others
    Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
    SAVE & ACCEPT