December Recap

December ended the year the way it started, with a soft month for closings. December was the 2^nd lowest month of the year, next to January, for the number of closed transactions in a month. On a positive note, for the third consecutive month, the Average Sales Price increased compared to the same month in 2022 and notably, for only the second instance this year, the monthly Average Sales Price exceeded $800,000. The number of listings this December compared to December of 2022 increased 14%. Let’s hope this is a good sign of things to come for our market in 2024!

December MLS Fun Facts:

• 7 houses sold for $2 Million and higher. An 8 bedroom, 8 bath OF home in S. Nags Head sold for $2,850,000 which was the highest sale of the month.
• 30 properties sold for under $500,000
• 20 condos/townhouses sold for an Average Sales Price of $556,442
• On average, residential property sold for 94% of the original asking price
• 30% were cash transactions and 7 were financed with a jumbo loan
• 35 of the 112 residential listings are either under contract (34) or have been sold (1)
• 28 lots sold for an Average Sales Price of $212,660 

Click to view our Monthly Market Video to see how the different areas of the OBX performed in December.

All December stats based on information from the Outer Banks Association of Realtors MLS 12.1.23 – 12.31.23 for residential, Dare & Currituck County