Outer Banks Association of REALTORS

June2015- MLS Statistical Report

Summary

Residential sales – Residential sales are doing well this year. So far the number of units sold is up 8% and the median sale price is up 5%. Single family detached sales are up 9% and the median sale price is up 1%; however, the average sales price is down 7%. Condominiums are not doing well with the number of unit sales down by 5%; however, the good news for condominium sales is that the median sale price is up 5%.

Land Sales –Land sales continue to climbwith overall unit sales up 9%. Residential land is up 9% also. Total volume sold is up 5% while average sales price is down3%.

Inventory –For the year, total inventory is down 10%. Commercial inventory is down 20%, land is down 10% and residential property inventory is down 9%.

Foreclosures – There was a small increase in the number of Dare County foreclosure filings in June with the numbers going from 7 units in May to 12 units in June; however, the June numbers are still below the 2015 monthly average of 15 unit filings / month.

Distressed Property sales– Distressed property sales are down 25% this year with short sales down 16% and bank owned property sales down by 30%. There was an increase in the number of distressed property sales in June; however, for this report, the number is statistically insignificant.

Data Obtained: July6, 2015

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

Year to Date Comparison
Qty Sold / % Chg / Volume Sold / % Chg / Average Sale / % Chg / Median Sale / % Chg / Qty Active / % Chg
Residential
Current Period / 864 / $316,219,025 / $365,994 / $290,000 / 1902
One year Ago / 797 / $312,224,268 / $391,749 / $276,123 / 2095
Increase / (Decrease) / 67 / 8% / $3,994,757 / 1% / ($25,755) / -7% / $13,877 / 5% / (193) / -9%
Lots / Land
Current Period / 217 / $26,108,365 / $120,315 / $75,000 / 1068
One Year Ago / 200 / $24,845,199 / $124,225 / $75,000 / 1190
Increase / (Decrease) / 17 / 9% / $1,263,166 / 5% / ($3,910) / -3% / $0 / 0% / (122) / -10%
Commercial
Current Period / 15 / $3,208,100 / $213,873 / $130,000 / 101
One Year Ago / 19 / $6,039,900 / $317,889 / $220,000 / 127
Increase / (Decrease) / (4) / -21% / ($2,831,800) / -47% / ($104,016) / -33% / ($90,000) / -41% / (26) / -20%
All Classes
Current Period / 1096 / $345,535,490 / $315,269 / $251,750 / 3071
One Year Ago / 1016 / $343,109,367 / $337,706 / $248,000 / 3412
Increase / (Decrease) / 80 / 8% / $2,426,123 / 1% / ($22,437) / -7% / $3,750 / 2% / (341) / -10%

Residential Property Sales

Year to Date Comparison - Residential Property
Qty Sold / % Chg / Volume Sold / % Chg / Average Sale / % Chg / Median Sale / % Chg
Single Family Detached
Current Period / 752 / $291,393,550 / $387,491 / $297,250
One year Ago / 689 / $291,315,143 / $422,808 / $295,425
Increase / (Decrease) / 63 / 9% / $78,407 / 0% / ($35,317) / -8% / $1,825 / 1%
Condominium
Current Period / 69 / $16,271,125 / $235,813 / $225,900
One Year Ago / 73 / $16,643,498 / $227,993 / $214,500
Increase / (Decrease) / (4) / -5% / ($372,373) / -2% / $7,820 / 3% / $11,400 / 5%
All Residential
Current Period / 864 / $316,219,025 / $365,994 / $290,000
One Year Ago / 797 / $312,224,268 / $391,749 / $276,123
Increase / (Decrease) / 67 / 8% / $3,994,757 / 1% / ($25,755) / -7% / $13,877 / 5%

Land Sales

Year to Date Comparison - Land Listings
Qty Sold / % Chg / Volume Sold / % Chg / Average Sale / % Chg / Median Sale / % Chg
Land - Residential
Current Period / 203 / $23,964,865 / $118,053 / $75,000
One Year Ago / 186 / $22,289,599 / $119,836 / $76,500
Increase / Decrease / 17 / 9% / $1,675,266 / 8% / ($1,783) / -1% / ($1,500) / -2%
All Land
Current Period / 217 / $26,108,365 / $120,315 / $75,000
One year Ago / 200 / $24,845,199 / $124,225 / $75,000
Increase / (Decrease) / 17 / 9% / $1,263,166 / 5% / ($3,910) / -3% / $0 / 0%

Distressed Properties

(Residential)

Year to Date Comparison - Distressed Properties
Qty Sold / % Chg / Volume Sold / % Chg / Average Sale / % Chg / Median Sale / % Chg
Residential - Short Sale
Current Period / 88 / $35,257,045 / $400,648 / $291,875
Previous Period / 105 / $39,436,664 / $375,587 / $280,100
Increase / (Decrease) / (17) / -16% / ($4,179,619) / -11% / $25,061 / 7% / $11,775 / 4%
Residential - Bank Owned
Current Period / 131 / $29,334,599 / $223,928 / $182,000
Previous Period / 186 / $29,334,599 / $223,928 / $182,000
Increase / (Decrease) / (55) / -30% / $0 / 0% / $0 / 0% / $0 / 0%
All Residential - Distressed
Current Period / 219 / $64,591,644 / $312,288 / $236,938
One Year Ago / 291 / $68,771,263 / $299,758 / $231,050
Increase / (Decrease) / (72) / -25% / ($4,179,619) / -6% / $12,531 / 4% / $5,888 / 3%

Sales By Area

Corolla
Units Sold
Jan / Feb / Mar / April / May / June / July / Aug / Sept / Oct / Nov / Dec / YTD
2011 / 10 / 9 / 12 / 28 / 21 / 20 / 12 / 6 / 14 / 13 / 10 / 14 / 169
2012 / 12 / 13 / 26 / 14 / 22 / 20 / 12 / 15 / 9 / 19 / 29 / 12 / 204
2013 / 11 / 11 / 17 / 23 / 19 / 14 / 12 / 16 / 5 / 19 / 16 / 16 / 179
2014 / 9 / 9 / 12 / 17 / 16 / 19 / 12 / 15 / 20 / 13 / 11 / 24 / 177
2015 / 17 / 14 / 17 / 21 / 18 / 29 / 116
Year / Median Sale Price / Percent Change
2011 / $527,000 / -10%
2012 / $500,000 / -5%
2013 / $480,000 / -4%
2014 / $470,000 / -2%
2015 / $512,500* / 9%