Outer Banks Real Estate Update – May Market Recap & Exciting News
Greetings from the beautiful Outer Banks! I’m John Head with Colony Realty, now officially part of the Resort Realty team. While this update comes a bit later than usual — already brushing up against July — it’s worth taking a moment to recap what happened in the real estate market during May and what we’re currently seeing as summer gets into full swing.
A Strong May & Big Transitions
May was an exceptional month for our team, not only in terms of sales volume but also with a major business milestone: Colony Realty has officially joined Resort Realty. This partnership brings a new level of resources and service to our clients, and I’m excited to now be working today in our Nags Head office. All of our agents and staff have made the move with us, and we’re looking forward to continuing to serve you with even more support behind the scenes — whether you’re buying, selling, or looking for rental and property management services.
Market Overview: A Return to Normal
Now, onto the market itself. If you’ve followed my updates in recent months, this will sound familiar: inventory continues to rise, especially on the residential side. In fact, residential listings are up 38% year over year, while lot and commercial listings are slightly down, simply due to fewer properties being available in those categories.
Buyers and sellers alike often ask, “What’s the market really like right now?” My answer: it’s finally starting to feel normal again. After the explosive and unpredictable “unicorn years” of the pandemic, we’re seeing inventory levels stabilizing. A healthy, balanced market for our region typically means 1,300 to 1,500 active units. As of now, we’re sitting at 1,292 — right on target.
Days on Market & Pricing Trends
The average days on market (DOM) is trending up, currently ranging between 70 and 92 days, depending on the area. If a home is priced appropriately, it’s still likely to sell fairly quickly. But properties that are even slightly overpriced are starting to linger — sometimes sitting for 3 to 6 months or longer.
Year-to-date, total sales are down about 5% compared to last year, which isn’t unexpected given the market shift. As always, our analysis focuses on the areas we serve most: Currituck beaches, Dare County beaches, Roanoke Island, Manteo, and Wanchese. While broader MLS data includes outliers like Moyock and Columbia, we stay focused on the vacation and residential coastal markets that matter most to you.
Looking Ahead
As we settle into this new chapter with Resort Realty, I want to emphasize that nothing has changed about our commitment to personal service — only now, we’re backed by an even stronger team. Whether you’re interested in buying, selling, vacation rentals, or long-term property management — residential or commercial — we’re here to help.
Have questions or need a more tailored update? Feel free to reach out to your Colony Realty agent or contact me directly at john.head@resortrealty.com. Our phone numbers remain the same, and our entire staff is ready to assist you.
Until then, stay well and enjoy the season. We hope to see you here at the beach soon!
Make it a great day
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