Outer Banks Association of REALTORS

2015 Year End - MLS Statistical Report
Total Sales
3500
3000
2500
2000
1500
1000
500
0
End of Year Active Inventory
5000
4500
4000
3500
3000
2500
2000
1500
1000
500
0
2007 2008 2009 2010 2011 2012 2013 2014 2015
2015 Summary – When looking back on 2015, two statistics stand out – sales and inventory. Specifically,
the number of units sold was at their highest level since 2005 and inventory was at its lowest level since the
MLS started gathering this information in 2007. The specifics are detailed below:

Residential sales – 2015 saw an 11% increase in the sale of residential property (+172 units) with
single family detached homes leading the way (+150 units); however, condominium sales were off
slightly (-4 units). Total volume sold and the median sale price were up by 8% and 2% respectively,
but average sale price was down by 2%.

Land Sales – 2015 saw a 5% decline in the sale of land listings (-27 units). The majority of this
decline was seen in the sale of land designated as residential (-26 units). Total volume sold was
down slightly (< 1%) but the median and average sale prices were up 10% and 6%.

Inventory – 2015 saw an 8% decline in the number of units available. If one looks back over the
last 9 years you will see that inventory was at its lowest level since 2007.

Foreclosures – 2015 saw a 16% decline in the number of residential properties that were listed as
Short Sales and a 37% decline in the sale of Bank Owned properties.
Data Obtained: January 9, 2016
Note: This report reflects corrections / updates to previous data.
This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of
REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by
the OBAR MLS is for its own use and may not reflect all real estate activity in the market.
Total Property Sales
Total Unit Sales
300
250
200
150
100
50
0
Residential
Land
Commercial
Total
Year to Date Comparison
Qty Sold
% Chg
Volume Sold
% Chg
Average Sale
% Chg
Median Sale
% Chg
Qty Active
% Chg
Residential
Current Period
1782
$645,659,485
$362,322
$285,750
1569
One year Ago
1610
$596,476,907
$370,482
$279,950
1767
Increase / (Decrease)
172
11%
$49,182,578
8%
($8,160)
-2%
$5,800
2%
(198)
-11%
Lots / Land
Current Period
464
One Year Ago
491
Increase / (Decrease)
(27)
$60,708,563
$130,837
$60,112,973
-5%
$595,590
$75,000
$122,429
1%
$8,408
955
$68,000
7%
$7,000
944
10%
11
1%
Commercial
Current Period
34
$14,380,497
$422,955
$297,500
88
One Year Ago
41
$15,442,800
$376,653
$155,000
114
Increase / (Decrease)
(7)
-17%
($1,062,303)
-7%
$46,302
12%
$142,500
92%
(26)
-23%
All Classes
Current Period
2280
One Year Ago
2142
Increase / (Decrease)
138
$720,748,545
$316,117
$672,032,680
6%
$48,715,865
$250,000
$313,740
7%
$2,377
2612
$240,000
1%
$10,000
2825
4%
(213)
-8%
This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of
REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by
the OBAR MLS is for its own use and may not reflect all real estate activity in the market.
Residential Property Sales
Total Active Inventory including UC / SH
Listings
Single Family Residential
Median Sale Price / Units Sold
$400,000
200
180
160
140
120
100
80
60
40
20
0
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
Median Price SFD
5000
4000
3000
2000
1000
0
Units Sold
Residential
Sold Price per Square Foot
Commercial Listings
Land Listings
Residential Listings
Total
Absorption Rate in Weeks
200
150.00
150
100
50
0
2012
2013
2014
0.00
December
October
November
September
July
August
May
50.00
June
January
February
March
April
100.00
Absorption Rate
Definition: The number of weeks it takes to sell the current inventory at the
present rate of sales OR
Total Active Listings
((Units sold last month * 12 months) / 52 weeks)
2015
Year to Date Comparison - Residential Property
Qty Sold
% Chg
Volume Sold
% Chg
Average Sale
% Chg
Median Sale
% Chg
Single Family Detached
Current Period
1538
$593,345,432
$385,790
$296,950
One year Ago
1388
$544,963,127
$392,624
$295,000
Increase / (Decrease)
150
11%
$48,382,305
9%
($6,834)
-2%
$1,950
1%
Condominium
Current Period
140
One Year Ago
144
Increase / (Decrease)
(4)
$33,553,005
$239,664
$33,994,328
-3%
($441,323)
$221,250
$236,071
-1%
$3,593
$227,000
2%
($5,750)
-3%
All Residential
Current Period
1782
$645,659,485
$362,322
One Year Ago
Increase / (Decrease)
1610
172
$596,476,907
$49,182,578
$370,482
($8,160)
11%
8%
$285,750
-2%
$279,950
$5,800
2%
This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of
REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by
the OBAR MLS is for its own use and may not reflect all real estate activity in the market.
Land Sales
Lot / Land
Average vs Median Sale Price
Lots / Land
Units Sold vs Total Sale
$250,000
$200,000
$9,000,000
80
$8,000,000
70
$7,000,000
60
$6,000,000
$150,000
50
$5,000,000
40
$4,000,000
$100,000
$50,000
$3,000,000
30
$2,000,000
20
10
$1,000,000
0
$0
$0
Average Sale Price
Total Sale Price
Median Sale Price
Units Sold
Lots / Land by Type
80
70
60
50
40
30
20
10
0
Residential
Commercial / Industrial
Boatslip
Acreage
Year to Date Comparison - Land Listings
Qty Sold
% Chg
Volume Sold
% Chg
Average Sale
% Chg
Median Sale
% Chg
Land - Residential
Current Period
425
$54,619,485
$128,516
$75,000
One Year Ago
451
$54,643,148
$121,159
$68,000
Increase / Decrease
(26)
-6%
($23,663)
0%
$7,357
6%
$7,000
10%
All Land
Current Period
464
One year Ago
491
Increase / (Decrease)
(27)
$60,708,563
$130,837
$60,112,973
-5%
$595,590
$75,000
$122,429
1%
$8,408
$68,000
7%
$7,000
10%
This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of
REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by
the OBAR MLS is for its own use and may not reflect all real estate activity in the market.
Distressed Properties
(Residential)
Active Distressed Inventory
vs
Sold
150
Residential Distressed Sales
25
20
100
15
50
10
5
Sep-15
Jul-15
May-15
Mar-15
Nov-15
Total Distressed Inventory
Bank Owned Inventory
0
Jan-15
Nov-14
Sep-14
Jul-14
May-14
Jan-14
Mar-14
0
Short Sale Inventory
Total Distressed Sold
Potential Short Sale
Bank Owned
120
100
Foreclosures
Two Year Trend
Active Residential Distressed
Properties
30
80
25
60
20
40
15
20
10
5
0
0
Short Sale Inventory
Jan-14 May-14 Sep-14 Jan-15 May-15 Sep-15
Bank Owned Inventory
Year to Date Comparison - Distressed Properties
Qty Sold
% Chg
Volume Sold
% Chg
Average Sale
%
Chg
Median Sale
%
Chg
Residential - Short Sale
Current Period
74
$27,359,507
$369,723
$300,500
One year Ago
88
$33,223,474
$377,539
$265,387
Increase / (Decrease)
(14)
-16%
($5,863,967)
-18%
($7,816)
-2%
$35,113
13%
Residential - Bank Owned
Current Period
105
One Year Ago
166
Increase / (Decrease)
(61)
$25,964,944
$247,285
$37,236,144
-37%
($11,271,200)
$180,900
$224,314
-30%
$22,971
$174,750
10%
$6,150
4%
All Residential - Distressed
Current Period
179
$53,324,451
$617,008
$481,400
One Year Ago
254
$70,459,618
$601,853
$440,137
Increase / (Decrease)
(75)
-30%
($17,135,167)
-24%
$15,155
3%
$41,263
9%
This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of
REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by
the OBAR MLS is for its own use and may not reflect all real estate activity in the market.
Sales By Area
Corolla
Residential Units Sold
35
30
Units Sold
25
20
15
10
5
0
2011
2012
2013
2014
2015
Jan
10
12
11
9
17
Feb
9
13
11
9
14
Mar
12
26
17
12
17
Year
2011
2012
2013
2014
2015
Units Sold
April May June July
28
21
20
12
14
22
20
12
23
19
14
12
17
16
19
12
21
18
30
16
Aug Sept
6
14
15
9
16
5
15
20
17
19
Median Sale Price
$527,000
$500,000
$480,000
$470,000
$493,950
Oct
13
19
19
13
10
Nov
10
29
16
11
16
Dec
14
12
16
24
21
YTD
169
204
179
177
216
Percent Change
-10%
-5%
-4%
-2%
5%
This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of
REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by
the OBAR MLS is for its own use and may not reflect all real estate activity in the market.
Town of Duck
Residential Units Sold
18
16
14
Units Sold
12
10
8
6
4
2
0
2011
2012
2013
2014
2015
Jan
4
11
5
5
8
Feb
6
8
7
6
6
Mar
7
9
8
9
7
Year
2011
2012
2013
2014
2015
April
7
6
6
9
10
Units Sold
May June July
7
7
8
8
7
9
14
13
7
17
11
4
12
10
7
Median Sale Price
$585,000
$479,500
$499,900
$511,250
$442,000
Aug
10
8
6
6
8
Sept
8
10
8
3
11
Oct
6
12
8
9
2
Nov
1
6
6
4
7
Dec
5
6
7
13
12
YTD
76
100
95
96
100
Percent Change
7%
-18%
4%
2%
-14%
This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of
REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by
the OBAR MLS is for its own use and may not reflect all real estate activity in the market.
Town of Southern Shores
Residential Units Sold
25
20
Units Sold
15
10
5
0
2010
2011
2012
2013
2014
2015
Jan
5
2
10
4
8
9
Feb
8
4
5
3
6
4
Mar
7
7
9
9
7
5
Year
2011
2012
2013
2014
2015
April
6
9
6
6
10
10
Units Sold
May June July
6
7
8
7
3
6
7
6
9
4
6
9
20
4
4
11
6
11
Median Sale Price
$425,000
$400,000
$420,000
$430,000
$360,000
Aug
7
4
7
6
7
8
Sept
7
7
9
8
7
6
Oct
6
4
5
3
7
4
Nov
12
3
12
3
10
10
Dec
4
2
5
13
7
13
YTD
83
58
90
74
97
97
Percent Change
-8%
-6%
5%
2%
-16%
This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of
REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by
the OBAR MLS is for its own use and may not reflect all real estate activity in the market.
Town of Kitty Hawk
Residential Units Sold
20
18
16
14
Units Sold
12
10
8
6
4
2
0
2011
2012
2013
2014
2015
Jan
5
8
5
4
5
Feb
8
7
6
2
6
Mar
11
6
7
8
9
Year
2011
2012
2013
2014
2015
April
3
7
10
11
5
Units Sold
May June July
4
3
9
10
8
7
10
9
11
15
6
9
19
6
12
Median Sale Price
$261,875
$291,500
$262,000
$285,000
$309,000
Aug
4
8
6
10
10
Sept
6
7
4
5
5
Oct
7
8
7
11
5
Nov
4
7
9
5
11
Dec
6
5
10
7
8
YTD
70
88
94
93
101
Percent Change
-12%
11%
-10%
9%
8%
This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of
REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by
the OBAR MLS is for its own use and may not reflect all real estate activity in the market.
Colington
Residential Units Sold
18
16
14
Units Sold
12
10
8
6
4
2
0
2011
2012
2013
2014
2015
Jan
6
1
5
6
5
Feb
8
7
7
2
5
Mar
6
13
7
4
6
Year
2011
2012
2013
2014
2015
April
12
10
8
13
11
Units Sold
May June July
5
10
6
12
8
2
4
12
4
8
2
8
12
13
9
Median Sale Price
$185,000
$204,500
$215,000
$214,000
$239,000
Aug
2
11
8
3
16
Sept
5
6
8
10
7
Oct
9
2
6
11
14
Nov
2
3
4
6
9
Dec
3
9
4
11
7
YTD
74
84
77
84
114
Percent Change
-13%
11%
5%
0%
12%
This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of
REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by
the OBAR MLS is for its own use and may not reflect all real estate activity in the market.
Town of Kill Devil Hills
Residential Units Sold
45
40
35
Units Sold
30
25
20
15
10
5
0
2011
2012
2013
2014
2015
Jan
13
7
14
16
10
Feb
7
12
14
14
23
Mar
16
24
21
21
26
Year
2011
2012
2013
2014
2015
April
21
24
40
21
21
Units Sold
May June July
21
19
25
25
23
18
30
23
26
26
26
19
31
30
25
Median Sale Price
$211,000
$215,000
$214,500
$239,000
$236,000
Aug
21
15
16
16
26
Sept
12
23
21
26
21
Oct
15
20
14
21
27
Nov
18
13
19
22
24
Dec
16
19
19
20
16
YTD
204
223
257
248
280
Percent Change
-6%
2%
No Change
11%
-1%
This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of
REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by
the OBAR MLS is for its own use and may not reflect all real estate activity in the market.
Town of Nags Head
Residential Units Sold
35
30
Units Sold
25
20
15
10
5
0
2011
2012
2013
2014
2015
Jan
10
10
10
14
11
Feb
8
11
5
7
12
Mar
20
17
10
8
14
Year
2011
2012
2013
2014
2015
April
15
17
16
18
20
May
19
22
20
22
32
Units Sold
June July
22
14
19
12
11
20
12
12
18
8
Aug
18
12
20
15
14
Median Sale Price
$320,000
$342,500
$335,000
$350,000
$363,500
Sept
24
14
22
23
14
Oct
12
12
7
18
19
Nov
8
18
17
16
16
Dec
15
20
15
15
19
YTD
185
184
173
180
197
Percent Change
2%
7%
-2%
4%
4%
This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of
REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by
the OBAR MLS is for its own use and may not reflect all real estate activity in the market.
Hatteras Island
Residential Units Sold
35
30
Units Sold
25
20
15
10
5
0
2011
2012
2013
2014
2015
Jan
13
14
12
11
13
Feb
12
19
10
14
13
Mar
30
27
18
13
18
Year
2011
2012
2013
2014
2015
April
20
22
25
12
19
Units Sold
May June July
18
24
19
25
15
18
17
18
16
22
22
13
25
17
26
Median Sale Price
$285,500
$292,500
$285,000
$263,775
$262,250
Aug
13
15
17
15
18
Sept
8
17
16
19
22
Oct
14
12
14
20
26
Nov
11
19
10
18
12
Dec
17
14
14
27
15
YTD
199
217
187
208
224
Percent Change
-17%
2%
-3%
-9%
-1%
This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of
REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by
the OBAR MLS is for its own use and may not reflect all real estate activity in the market.
Roanoke Island
Residential Units Sold
20
18
16
Units Sold
14
12
10
8
6
4
2
0
2011
2012
2013
2014
2015
Jan
9
4
4
11
2
Feb
8
7
8
8
2
Mar
4
7
9
7
10
Year
2011
2012
2013
2014
2015
April
8
2
9
13
10
Units Sold
May June July
7
8
8
5
7
10
10
8
19
11
8
14
3
19
11
Median Sale Price
$250,000
$258,000
$222,000
$260,000
$245,100
Aug
5
9
10
14
8
Sept
10
17
6
11
16
Oct
6
15
10
9
15
Nov
4
7
6
6
10
Dec
5
7
2
5
13
YTD
82
98
101
117
119
Percent Change
-7%
3%
-14%
17%
-6%
This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of
REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by
the OBAR MLS is for its own use and may not reflect all real estate activity in the market.
Currituck Mainland
Residential Units Sold
30
25
Units Sold
20
15
10
5
0
2011
2012
2013
2014
2015
Jan
5
14
10
9
8
Feb
3
13
7
10
8
Mar
7
17
17
10
16
Year
2011
2012
2013
2014
2015
April
10
13
11
15
15
Units Sold
May June July
9
14
12
16
19
17
20
21
18
19
24
14
25
22
27
Median Sale Price
$179,000
$180,000
$197,000
$210,000
$221,200
Aug
10
12
19
14
10
Sept Oct
15
14
19
19
14
5
11
11
9
18
Nov
4
9
11
9
16
Dec
14
7
13
9
10
YTD
117
175
166
155
184
Percent Change
-15%
1%
9%
7%
5%
This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of
REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by
the OBAR MLS is for its own use and may not reflect all real estate activity in the market.