Nags Head, NC Real Estate News

By Greg Cremia
(Shore Realty of the Outer Banks)
 The data below shows the residential properties sold in Nags Head Shores during the first half of 2016. This information is provided by the Outer Banks Association of Realtors.     Sold Market          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     7     $2,962,000     $423,143     $412,500     189                   Cash     1     $815,000     $815,000     $815,000     38          Analysis By Area                   Nags Head Oceanside     1     $815,000     $815,000     $815,000     38                   Nags Head between hwys     7     $2,962,000     $423,143     $412,500     189                   Totals     8     $3,777,000     $472,125     $448,750     170                        Non Co-op Sales...
Comments 0
By Greg Cremia
(Shore Realty of the Outer Banks)
 The information below shows the homes sold in Hollywood Beach during the first half of this year. This information id provided by the Outer Banks association of Realtors. Hollywood Beach is a small community in South Nags Head so the 5 properties sold in the last 6 months is actually a substantial amount.  Sold Market Hollywood Beach          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     4     $3,277,000     $819,250     $895,000     162                   VA     1     $385,000     $385,000     $385,000     141          Analysis By Area                   S. N.H. East/Old Oregon R     3     $2,912,000     $970,667     $950,000     197                   S. N.H. West/Old Oregon R     2     $750,000 ...
Comments 0
By Greg Cremia
(Shore Realty of the Outer Banks)
 The data below represents the residential properties sold in Bodie Island Beach during the first half of 2016. Bodie Island Beach is a small subdivision in South Nags Head, so a total of 5 sales is way better than it looks. This data is provided by the Outer Banks Association of Realtors and represents the homes sold by all the members.  Sold Market Bodie Island Beach          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Other     1     $179,000     $179,000     $179,000     444                   Conventional     3     $2,090,000     $696,667     $420,000     208                   Jumbo Loan     1     $560,000     $560,000     $560,000     204          Analysis By Area                   S. N.H. East/Old Oregon ...
Comments 0
By Greg Cremia
(Shore Realty of the Outer Banks)
  This data represents the properties sold in North Ridge Estates during the first half of 2016. There were no homes sold during this period but 3 building lots were sold which coincides with the increase in construction we are seeing. This data is provided by the Outer Banks Association of Realtors.   Sold Market North Ridge Estates Lots          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       LOTS/LAND                   Conventional     1     $64,500     $64,500     $64,500     192                   Cash     2     $166,000     $83,000     $83,000     405          Analysis By Area                   Nags Head Westside     3     $230,500     $76,833     $68,000     334                   Totals     3     $230,500     $76,833     $68,000     334  ...
Comments 0
By Greg Cremia
(Shore Realty of the Outer Banks)
 The information below contains the properties sold in George Stronach during the first half of this year. The community of George Stronach is kind of small so the 5 home sales is not as insignificant as it appears. The information below was provided by the Outer Banks Association of Realtors.      Sold Market George Stronach          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     3     $1,705,000     $568,333     $563,000     127                   Jumbo Loan     2     $2,133,000     $1,066,500     $1,066,500     86          Analysis By Area                   Nags Head Oceanside     1     $1,425,000     $1,425,000     $1,425,000     103                   Nags Head between hwys     4     $2,413,000...
Comments 0
By Greg Cremia
(Shore Realty of the Outer Banks)
Sold Market The Village at Nags Head          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Other     1     $1,638,000     $1,638,000     $1,638,000     567                   Conventional     13     $5,588,400     $429,877     $406,000     233                   Cash     2     $1,342,000     $671,000     $671,000     78                   Owner Finance     1     $650,000     $650,000     $650,000     214          Analysis By Area The Village at  Nags Head Oceanside     2     $2,613,000     $1,306,500     $1,306,500     310 The Village Nags Head between hwys     2     $883,000     $441,500     $441,500     359 The Village at Nags Head Westside     13     $5,722,400     $440,185     $406,000     203                 ...
Comments 0
By Greg Cremia
(Shore Realty of the Outer Banks)
 The information below demonstrates the homes sold in Southridge during the first six months of 2016. This information is supplied by the Outer Banks Association of Realtors.     Sold Market Southridge          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     6     $1,668,635     $278,106     $273,200     146                   Cash     1     $333,000     $333,000     $333,000     81          Analysis By Area                   Southridge     7     $2,001,635     $285,948     $284,900     137                   Totals     7     $2,001,635     $285,948     $284,900     137                        Non Co-op Sales     0                    0                   Co-op Sales     7     $2,001,635     $285,948   ...
Comments 0
By Greg Cremia
(Shore Realty of the Outer Banks)
 The information below illustrates the 12 homes that sold in Old Nags Head Cove during the first six months of 2016. The information is supplied by the Outer Banks Association of Realtors. Sold Market Old Nags Head Cove          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     10     $3,166,700     $316,670     $301,600     150                   Cash     2     $742,000     $371,000     $371,000     421          Analysis By Area     Old Nags Head Cove     12     $3,908,700     $325,725     $314,100     195                   Totals     12     $3,908,700     $325,725     $314,100     195                        Non Co-op Sales     1     $360,000     $360,000     $360,000     20                   Co-op S...
Comments 0
By Greg Cremia
(Shore Realty of the Outer Banks)
      Sold Market Nags Head Westside          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     32     $11,045,735     $345,179     $314,100     166                   FHA     1     $330,000     $330,000     $330,000     213                   Cash     6     $1,846,000     $307,667     $345,000     329                   Owner Finance     2     $1,000,000     $500,000     $500,000     207          Analysis By Area                   Nags Head Westside     41     $14,221,735     $346,872     $325,000     193                   Totals     41     $14,221,735     $346,872     $325,000     193                        Non Co-op Sales     7     $2,956,900     $422,414     $360,000     182                   Co-op ...
Comments 0
By Greg Cremia
(Shore Realty of the Outer Banks)
Has the time come where you don't want to own a house at the beach anymore? Are you thinking about selling your house in Nags Head? Is summer a good time to sell? What should you do?Well, summer is not the best time to sell your house in Nags Head but it can be done. The problem with selling homes in Nags Head during the summer is the influx of tourists here on vacation.The typical person does not buy a house while on vacation. They might fall in love with the beach and make the decision to buy something, but they come back later when it is not so crowded to look. Real buyers who have already made up their minds and are ready to buy something don't look at houses in the summer. The combination of no vacancies, crowded restaurants and the difficulty seeing houses full of vacationers give...
Comments 0
By Greg Cremia
(Shore Realty of the Outer Banks)
For many, the dream of owning a waterfront home in Nags Head can come true. You know you want to be on the water, but just exactly where on the water you are not sure. There are 3 basic options when it comes to owning waterfront property in Nags Head, oceanfront, soundfront and canalfront. All three have their own characteristics and flavors and each serves a purpose not attainable with the others. OceanfrontThe oceanfront in Nags Head is the ultimate location and naturally, comes with an ultimate price tag to match. If you want to watch the waves crash on the beach and the sun rise over the ocean then the oceanfront is where you need to be.When looking at oceanfront property, you should start by looking at how long the lot is and how close to the water the house is. In areas with high ...
Comments 0
By Greg Cremia
(Shore Realty of the Outer Banks)
YEAR-TO-YEAR COMPARISON REPORT The report below is a comparison of Nags Head home sales for the last 2 years. Here you can see what areas of Nags Head are experiencing an increase in sales and sales price. If you are thinking of selling your home in Nags Head, give me a call or click one of the links below to find out what I can do for you. Statistics for: Area (Minor)=150, 151, 160, 161, 170, Class=RE, Date Range01/01/2015-01/31/2016, Grouping Selector=3, Type=SF; As Of: 4/30/2016   Qty Sold % Chg Volume Sold % Chg Average Sale % Chg Median Sale % Chg Qty Active % Chg RESIDENTIAL Dare County   Nags Head Oceanside Current Period 17   19,106,900   1,123,935   1,000,000   60   One Year Ago 23   22,927,649   996,854   970,000   71   Increase / (Decrease) (6) -26 % (3,820,749) -17 % 127,08...
Comments 0
By Greg Cremia
(Shore Realty of the Outer Banks)
For those of you fortunate enough to own a 2nd house at the beach, the pollen blowing around on the warm breezes signals the start of the 'opening'. Those spring weeks when you begin to find out how well your beach house fared over the winter. The time where you debate what needs to be fixed and what needs to be replaced versus what can be ignored till next year. Renters will be checking in soon and the house needs to be opened for the summer vacation rental season.For some of you, the thought of another year spent baby sitting a beach house has had it's day, and the time has come to move on with your life. Is this the year to sell it? Is spring even a good time to sell my house in Nags Head? Most of the crowd does not show up until the summer so why not wait until then?Spring time is t...
Comments 0
By Greg Cremia
(Shore Realty of the Outer Banks)
 Home prices in Whalebone Beaches are increasing. The median price went up from $402,500.00 to $415,000.00 for an increase of 3%. This is nothing to brag about but it shows prices are headed in the right direction. If you are thinking about possibly selling your home in Whalebone Beaches, give e a call or click one of the links below to find out what I can do for you.     Sold Market Whalebone Beaches Homes 2015          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     7     $2,602,700     $371,814     $415,000     326                   Cash     2     $2,580,000     $1,290,000     $1,290,000     127          Analysis By Area                   Nags Head Oceanside     2     $2,792,500     $1,396,250  ...
Comments 0
By Greg Cremia
(Shore Realty of the Outer Banks)
 We are seeing the prices of ocean front homes in Nags Head going up at a pretty good pace. The median price jumped 10% from $915,000 in 2014 to $1,000,000 in 2015. The average price skyrocketed a whopping 17% from $861,000 in 2014 to $1,125,000 in 2015. This is very encouraging for Nags Head home owners. If you are thinking of selling your ocean front home in Nags Head, give me a call or click one of the links below to find out what I can do for you.     Sold Market Nags Head Oceanfront Homes 2015          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Other     1     $937,500     $937,500     $937,500     245                   Conventional     12     $10,742,240     $895,187     $778,000     335                 ...
Comments 0
By Greg Cremia
(Shore Realty of the Outer Banks)
 It looks like home prices are not going up in the subdivision of Nags Head Shores. The median price fell 8% to $325,000 from $351,000. The number of homes sold saw a slight increase so there are buyers out there helping selling get rid of their properties. If you are thinking about selling your home in Nags Head Shores, give me a call or click one of the links below to find out what I can do for you.     Sold Market Nags Head Shores 2015          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     10     $3,779,900     $377,990     $327,500     241                   Cash     2     $466,000     $233,000     $233,000     110                   Owner Finance     1     $256,000     $256,000     $256,000   ...
Comments 1
By Greg Cremia
(Shore Realty of the Outer Banks)
 While it might look like prices are falling when you see the drop in the median price of a Heron Cove condo but looks are deceiving. Top floor units sell for substantially more than first floor units and this can throw off the numbers. If you are considering selling your Heron Cove Condo, give me a call or click one of the links below to find out what I can do for you.     Sold Market Heron Cove Condos 2015          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Cash     2     $812,500     $406,250     $406,250     173          Analysis By Area                   Nags Head Oceanside     2     $812,500     $406,250     $406,250     173                   Totals     2     $812,500     $406,250     $406,250     173   ...
Comments 0
By Greg Cremia
(Shore Realty of the Outer Banks)
 The price of a Diamond Shoals condo has gone down since last year. The median price fell substantially from $450,000 to $380,000. This might reflect the sale of units that were not updated and worth considerably less than more modern units or the sale of first floor units which are also worth less the top floor units. If you are thinking about selling your Diamond Shoals condo, give me a call or click one of the links below to find out what I can do for you.     Sold Market Diamond Shoals Condos 2015          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     2     $760,000     $380,000     $380,000     506          Analysis By Area                   S. N.H. East/Old Oregon R     2     $760,000     $...
Comments 0
By Greg Cremia
(Shore Realty of the Outer Banks)
 The market for oceanfront condos in Nags Head is getting hot and the prices for Quay Condos is increasing along with the sales activity. The median price of a condo in the Quay went up 7% from $360,000 to $385,000 and the average price went up slightly from $376K to $378K. The big news is the number of sales doubled from 3 in 2014 to 6 in 2015. If you are thinking about selling your Quay Condo, give me a call or click one of the links below to find out what I can do for you.     Sold Market Quay Condos 2015          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     4     $1,544,000     $386,000     $385,000     204                   Cash     1     $337,000     $337,000     $337,000     532          ...
Comments 1
By Greg Cremia
(Shore Realty of the Outer Banks)
 Home prices in South Nags Head seem to be holding steady with the median price almost the same for the past 2 years. The median price dropped slightly to $400,000 from $405,000 the year before, however the average price saw an increase from $479,000 in 2014 to $530,000 this past year, an increase of 115. If you are thinking of selling your house in South Nags Head, give me a call or click one of the links below to find out what I can do for you.     Sold Market South Nags Head 2015          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     27     $15,251,786     $564,881     $425,000     227                   FHA     1     $320,000     $320,000     $320,000     118                   Cash     7     $...
Comments 0