Real Estate January 13, 2025

December Trends

December ended on a positive note with units posting a 16% increase over the previous month and a 15% increase year over year! Sales volume was up less than 1% compared to last December. Although the Average Sales Price of $717,785 was the lowest in the fourth quarter, the residential market experienced increases in both the average and median sales prices for the entire year!

There are currently 627 active residential properties for sale (as of 1.7.25) with a Median Asking Price of $730,000 and Average Days on Market of 115.

The Median Asking Price of the 153 properties under contract is $635,000.

December MLS Fun Facts:

  • 84 properties went under contract in December compared to 114 the previous month.
  • 117 properties were listed in December compared to 184 in November. Of the 117 December listings, 21 are either under contract (19) or have been sold (2).
  • 29 of the 125 were cash transactions. 21 were financed using a VA/FHA loan.
  • On average, property sold for 95% of the original asking price.
  • 35 properties sold for 100% or higher of the asking price!
  • The Average Days on Market was 57.
  • 27 single-family homes sold for $500k and less, including 9 selling for less than $400k.
  • 2 oceanfront homes and 1 soundfront home sold for $2 Million and higher.
  • The highest sale of the month was a 7 bedroom, 7.2 bath oceanfront home in Southern Shores which sold for $2,850,000 and 95% of the original asking price.
  • 16 condos/townhomes sold with an Average Sales Price of $457,375

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

Based on information from the Outer Banks Association of Realtors MLS, residential in Dare and Currituck County 12.1.24 – 12.31.24