We hope that 2016 is off to a wonderful start for you and your family. After spending much of the holiday season in shorts and T-Shirts, January finally brought the arctic blast we knew was looming. We even had a slight dusting of snow mid January.
If you find yourself in Corolla in the coming months you will notice the pedestrian path along highway 12 is coming along very nicely. For those of you that enjoy active visits to the northern Outer Banks, Corolla Adventure Park has gotten approval to add a high ropes course which will be similar to the one that is currently located in Nags Head.
In real estate news, 2016 seems to be off to a great start for us. We are busy working with buyer clients, taking new listings, and negotiating offers. Interest rates remain historically low, and inventory continues to decline. Unit sales were up by 9% in January, and total volume was up by 36%. Single family homes sales were up by 11% compared to January of 2015. Land sales remain flat, but we believe this is due to decreased inventory, as construction is booming. Inventory continues to decline on all fronts while distressed property sales are half of what they were this time last year. We are more optimistic than ever. As always, we will keep you posted and we hope to see you in Duck soon!