September 218 MLS Statistical Report Total Sales Blame it on Hurricane Florence but overall, sales dropped drastically in August - down 17%. Total Sales Sept'18 172-17% Sept'17 26-2% Sept'16 211 7% 3 2 1 Total Sales - Month over Month 2 216 217 218 Under Contract Under contract listings also dropped dramatically - down 17% Total Under Contract Sept'18 367-17% Sept'17 442 4% Sept'16 426-2% 6 4 2 Total Listings Under Contract Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec 2 216 217 218 Residential Inventory Year-over-year inventory increased again - up 1% Residential Inventory Aug'18 6 1% Aug'17 1484-1% Aug'16 1642-1% 2 1 Active Residential Inventory 2 216 217 218 Data Obtained: October, 218 Note: This report reflects corrections / updates to previous data.
Residential Property Sales Residential Sales Year-to-year sales declines - down 16%. Residential Sales Sept'18 136-16% Sept'17 162 2% Sept'19 9-2% 2 2 1 Residential Sales 2 216 217 218 Absorption Rate With the decline in sales, the absorption rate is up - 36%. 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) / 2 weeks) 1... Absorption Rate in Weeks Days on the market Days on the market are down, but this decline is a reflection of the low sales volume. Residential Under Contract Sept'18 138-3% Sept'17 142-28% Sept'16 197 4% 3 2 2 1 Days on the Market 2 216 217 218
Lots / Land Lots / Land Sales Sales are definitely trending downward.. 8 Lot / Land Sales Lots / Land Sales Sept'18 31-16% Sept'17 37 9% Sept'16 327 1% 6 4 2 2 216 217 218 Lots / Land Average / Median Sale Price Although sales are down, the average sale price is up by 26% and the median sale price is up by 21%. Lots / Land Median Price Sept'18 $93, 13% Sept'17 $82,9 11% Sept'16 $7, 4% $, $1, $, $ Land - Median Sale Price 2 216 217 218 Lots / Land Inventory Month-over-Month inventory has remained relatively constant; however, year-over-year inventory has deliined by 2%. Residential Inventory Sept'18 748-2% 12 1 8 6 4 2 Land Active Inventory Sept'17 764-13% Sept'16 882-16% 2 216 217 218
Distressed Property Distressed Inventory Inventory Not much to discuss here. Distressed Sale Inventory Sept'18 2 19% Sept'17 21-42% Sept'16 36-48% 12 1 8 6 4 2 2 216 217 218 Distressed Sales The percentage increase is impressive, but the number of sales is are just so low. Distressed Sales Sept'18 11 12% Sept'17-44% Sept'16 9-18% 2 2 1 Distressed Sales 2 216 217 218 Foreclosures Foreclosures Sept'18 2-7% Sept'17 8-38% Sept'16 13 86% 2 18 16 14 12 1 8 6 4 2 Dare County Foreclosures 2 216 217 218
KDH - UnIncorporated - 18 August 218 New Construction Building Permit Value Roanoke Island -18 Hatteras Island -18 Duck - 18 Kitty Hawk-18 Kill Devil Hills -18 Nags Head-18 Southern Shores-18 Manteo - 18 $ $2,, $4,, $6,, $8,, $1,, $12,, $14,, Year To Date 218 Number of Building Permits 1 2 2 218 Total 217 Total Kill Devil Hills - 18 Kill Devil Hills - 17 KDH - UnIncorporated - 18 KDH - UnIncorporated -17 Roanoke Island - 18 Roanoke Island -17 Hatteras Island - 18 Hatteras Island - 17 Southern Shores - 18 Southern Shores - 17 Nags Head - 18 Nags Head - 17 Kitty Hawk - 18 Kitty Hawk - 17 Duck -18 Duck - 17 Manteo-18 Manteo-17 3 28 27 26 27 24 17 2 28 13 21 13 7 9 3 7 46 46 186 26
Units Sold Outer Banks Towns / Areas Corolla 218 163-6% 217 174 12% 216 3% 218 $497,4 4% 217 $477, 12% 216 $42, -14% 3 3 2 2 1 Town of Duck 218 88-3% 217 91 4% 216 6-4% 218 $487,2 % 217 $466, -2% 216 $477, 8% 2 2 1
Units Sold Town of Southern Shores 218 68 17% 217 8 21% 216 48-2% 2 2 218 $412, -2% 217 $42, -1% 216 $422, 17% 1 Town of Kitty Hawk 218 83 3% 217 64 7% 216 6-17% 218 $34, 1% 217 $31, 2% 216 $3, -1% 2 1
Colington 218 14 24% 217 84 17% 216 72-6% 218 $27, 8% 217 $2, 9% 216 $234, -2% Town of Kill Devil Hills 218 24 22% 217 197 4% 216 189-2% 218 $283,7 3% 217 $27, 2% 216 $268, 14% 4 3 3 2 2 1
Units Sold Town of Nags Head 218 4-3% 217 8 21% 216 131 2% 218 $377, -2% 217 $384, 1% 216 $382, % 3 3 2 2 1 Hatteras Island 218 24 13% 217 181 8% 216 167 12% 218 $3, % 217 $3, 13% 216 $271, 3% 4 3 3 2 2 1
Units Sold Roanoke Island 218 94 4% 217 9 -% 216 16 63% 2 2 218 $279, -1% 217 $283,3 7% 216 $26, 8% 1 Currituck Mainland 218 131 % 217 12 13% 216 111 -% 218 $242, 1% 217 $239,9 1% 216 $238, 8% 3 2 2 1
Ocracoke Island 218 13-32% 217 19 73% 216 11 83% 218 $29, -% 217 $31, -1% 216 $312,812 14% Axis Title