April 2013 Recap

Posted on Posted in News Letter

We certainly had our share of April showers along the Outer Banks.  Much of the month was cloudy and windy, but we were lucky enough to have had an entire week of summer-like temperatures in early April. 
Our big news is that we have a newly designed website!  Please take a look at it and let us know what you think at www.obxhomes.com.  It is more user friendly, and the revamp was long overdue. 

In real estate news, residential sales remain down for 2013.  We’ve seen an 18% decline; however, land sales are up by 19%, so the news isn’t all bad.  Now that spring is in full swing we are also noticing the number of properties under contract has increased.  Interest rates are still very low, and inventory is steady.  The number of foreclosure filings is also down for this year by about 1/3.  Distressed property sales have once again decreased and are now below market highs, currently accounting for 30% of the total sales for all of Dare and Currituck counties. 

If you have plans to be in the area, take note of some upcoming events.  Downtown Manteo has started the First Friday celebrations once again.  The first Friday of every month is a must experience on Roanoke Island.  Duck will begin fitness classes on the lawn June 5th, and Duck’s summer concert series will begin on June 27th.  The Outer Banks Music Festival takes place at the Whalehead Club on May 26th, and the Whalehead Wednesday wine festivals will begin on May 29th. 

We hope to see you soon.