April Recap

Posted on Posted in News, News Letter

If April showers really do bring May flowers, then we can expect to see a magnificent array of blooms any day now.  April’s rainfall total came in at 5.22 inches, considerably more than the 3.1 inch average.  We saw only 5 days of all-day sunshine.  This was good for retailers in the area during spring break.  We saw droves of visitors in Duck and Corolla for the two weeks mid-month over Spring Break.  Twiddy alone had nearly 550 check-in’s the weekend of April 12th. 
We will soon enjoy smooth traffic patterns for a  little bit:  The west  bound lanes of the Wright Memorial Bridge are scheduled to reopen on May 15th, but the bridge work is not complete, so next winter we can again expect one-lane each way on  the bridge. 
The sound-side board walk extension is nearly complete.  It will add 770 feet to the sound-side boardwalk making it span a distance of nearly 1 mile once it opens.  If you have not experienced the boardwalk yet, please do yourself a favor and make the time to do so soon. 
In real estate news, things are still relatively unstable.  We’ve seen a jump in the inventory this year by 12%, and the number of  residential sales has decreased by 12%.  This is for the entire Outer Banks, not just the northern beaches.  The good news is that interest rates are staying low.  This should help the market continue on its slow path towards recovery.  The number of foreclosures remains at a reduced level; however, short sale property sales are on the rise. 
As always, if you ever have any real estate related questions, please let us hear from you.  We are happy to help!