More Listings, Higher Prices, and Big Shifts—Here’s What You Need to Know
Wondering what’s actually happening in the Outer Banks real estate market right now? Whether you’re searching for your dream beach house or thinking about listing a property this spring, the Q1 2025 numbers paint a revealing picture. Let’s break it down.
Sales Down, Inventory Up
Residential sales dipped slightly—down just 3% compared to this time last year—but the bigger story is inventory. Active listings are up 23%, giving buyers more choices and creating more competition for sellers.
If you’re thinking about listing, this is your reminder that pricing your home right from the start is more important than ever.
Home Values Are Still Climbing
Despite a slight drop in overall sales, single-family home prices continue to climb. The median sales price is now $621,250, a 13% increase year over year.
Condos saw a small dip, with the median price falling 6% to $445,000. But with limited inventory and demand creeping back, this might be a window of opportunity for smart buyers to get in before prices rise again.
Land Market Snapshot
Land sales are down 9% from Q1 2024, but there’s a bright side—lots are selling faster. Average days on market dropped from 147 to 114, and the median time to sell is just 29 days. That’s great news if you’re holding land and waiting for the right moment to sell.
Market by Area: The Standouts
Let’s zoom in on a few key spots across the Outer Banks:
- Nags Head: A standout this quarter. Sales skyrocketed 87%, and prices climbed 6%, bringing the median to $870,000.
- Hatteras Island: The median sales price jumped 27% year over year, now sitting at $655,000. Clearly, demand is strong.
- Corolla: A different story here. Sales dropped 41%, and prices slid 12%. This is a shift that buyers and sellers alike should watch closely.
Distressed Properties? Still Not a Factor
One sign of market stability: there were zero short sales or bank-owned listings in the MLS for March. That’s reassuring for homeowners and investors alike.
So, What’s Next?
The Outer Banks market is shifting—but it’s not slowing down. Whether you’re buying, selling, or just trying to time your next move, staying informed is key.
Curious what these numbers mean for your specific property or neighborhood? Let’s connect and talk strategy—this market still holds opportunity for those ready to move smartly.