Inventory is on the rise, sales are slowing, and prices are holding steady across the Outer Banks. Now’s the time to plan your next move with Trisha Midgett and Team.
November 2024 Market Trends: What’s Happening in the Outer Banks?
As we head into the final stretch of 2024, the Outer Banks real estate market is showing some key trends that both buyers and sellers should be aware of. Inventory is increasing, giving buyers more options, while sales have slowed—creating opportunities for strategic moves as we look to 2025.
If you’re considering buying or selling property on the Outer Banks, here’s what you need to know about the current market and why working with Trisha Midgett and Team will give you the edge you need.
Inventory is Up, Creating More Opportunities for Buyers
One of the standout trends for November 2024 is the significant increase in inventory.
- Residential inventory has risen by 40% compared to this time last year, giving buyers more choices than we’ve seen in recent months.
- Lots and land inventory has also climbed by 16%, offering unique investment opportunities for those looking to build their dream home or vacation rental.
For investors and buyers, this increase in options could mean more negotiating power as competition slows.
Residential Inventory 
Lot and Land Inventory
Sales Are Slowing: What This Means for Sellers
While inventory is up, overall sales have cooled in 2024:
- Total sales are down 8% year-to-date, with residential sales dipping 4%.
- Lot and land sales have seen the sharpest decline, down 23% compared to last year.
For sellers, this means pricing your property competitively and working with an experienced team like Trisha Midgett and Team will be critical to standing out in a shifting market.
Residential Sales 
Lot and Land Sales
Outer Banks Area Highlights
Prices remain steady in many key Outer Banks towns, signaling continued value for property owners and buyers alike:
- Nags Head saw the biggest price growth, with the median sales price up 25% to $840,000.
- Manteo continues to shine, with prices up 14% to $558,000.
- In the northern towns of Corolla and Duck, median prices climbed 7%, holding strong at $868,500 and $857,500, respectively.
- On Hatteras Island, the median price softened slightly, down 3% to $565,034, and homes are taking longer to sell, with an average of 70 days on market.
These trends create opportunities for both buyers and sellers, depending on your goals.
Why Choose Trisha Midgett and Team?
The Outer Banks real estate market is dynamic, and navigating these changes requires local expertise and proven strategies. Trisha Midgett and Team have decades of combined experience helping investors, vacation home buyers, and property owners achieve success in this unique market.
Whether you’re looking to invest in a beachside getaway, build on a vacant lot, or sell your property for maximum value, we’re here to guide you every step of the way.
Ready to Take the Next Step?
Don’t wait for the market to shift again. Reach out to Trisha Midgett and Team today to discuss your real estate goals and discover how we can help you succeed in the Outer Banks market.