Welcome to what many people believe to be paradise: the picture-perfect conditions on the Outer Banks in the fall! Think of September’s ideal combination of warm orange and yellow tones and the sounds of waves crashing on the beach. Many people envision the Outer Banks in September as a picture-perfect place where the temperatures are warm and pleasant, the sunsets are even more spectacular, and there is plenty of space for everyone to explore and enjoy our exceptional beaches.
At the end of last month, the US Army Corps of Engineers and the US Environmental Protection Agency released a final regulation modifying the 2023 definition of “waters of the United States” to comply with the recent Supreme Court judgment in the Sackett v. EPA case. These changes are intended to integrate with the Supreme Court’s decision while increasing clarity in conserving the nation’s water bodies. Furthermore, these modifications benefit various activities, including construction projects, business opportunities, and farming operations. Please see the accompanying PDF Fact Sheet on this judgment for further information.
Exploring local market patterns as the end of the year approaches and comparing them to national statistics becomes relatively appealing for the Outer Banks real estate sector. OBAR’s analysis identifies notable developments in our local market from 2022 to 2023. While the report will indicate fewer active listings, longer days on the market, lower median selling prices, and fewer new home listings, it’s critical to remember that these are only half of the picture. As we enter the fall market, the possibility of increasing inventory might have a beneficial influence on year-end statistics and boost total sales. Let us consider these shifts as opportunities and look forward to what the Outer Banks real estate market has in store for us!
If you’ve been thinking of selling, are looking to purchase, or have friends/family interested, please don’t hesitate to reach out, as we can send a free market analysis for your property and also add prospective buyers to the auto-email notifications for specific types of properties here at the beach. If you’re not able to visit in person, we offer virtual showings and are more than happy to preview a home for you and send some notes.
We’ve included the OBAR statistics report for August* for your review. If you would like a more tailored report with specific figures for your neighborhood, please let us know, as the report we send contains figures from Corolla south until Nags Head.
Please don’t hesitate to call or email us if you have any questions or should you need anything at all.
The OBX Homes Team
