We hope everyone had a wonderful Fourth of July and enjoyed a relaxing holiday weekend with family and friends. As our nation celebrated its 250th anniversary this year, we couldn’t help but imagine what a real estate transaction might have looked like in 1776. There were no electronic signatures, inspections, appraisals, or lenders, maybe just a handshake, a handwritten deed, and perhaps even a horse as part of the negotiation! While the home buying process has certainly evolved over the past two and a half centuries, one thing has remained the same: owning a special place where family and friends can gather is an investment that stands the test of time. Here on the Outer Banks, we’re grateful for the opportunity to help owners buy, sell, and enjoy those special places for generations to come.
In local news, one of the biggest recent developments affects Currituck County’s occupancy tax, which is collected on short term accommodations. A new state law, signed on June 18, officially confirms that Currituck County can continue using a portion of those funds to support essential local services, including law enforcement, fire protection, emergency services, public facilities, solid waste services, and beach nourishment. The remaining portion of the occupancy tax will continue to be used to promote travel and tourism. This legislation also aligns with a recent North Carolina Supreme Court ruling that upheld the county’s ability to use these funds in this manner. As part of its 2026 through 2027 budget, Currituck County also approved a two cent reduction in the property tax rate, providing an additional benefit for property owners.
According to the June 2026 OBAR MLS Statistics Report, our local real estate market remained steady, with signs of a healthy, more balanced market. Single-family home inventory increased 10.8% year over year, giving buyers more choices, while new listings remained nearly unchanged from last June. Pending sales rose 4.3%, reflecting continued buyer interest, although closed sales dipped 5.7%. Homes sold a bit faster than a year ago, with the average days on market dropping to 60 days, and sellers continued to receive an impressive 96.1% of their list price on average. The median sales price increased 3.0% to $761,000, while the average sales price remained relatively stable, decreasing just 1.2% to approximately $860,000. It’s not uncommon to see a slight slowdown in sales activity during the peak summer months, as vacation rentals can make scheduling showings more challenging. Seasonal traffic may also cause some prospective buyers to postpone their home search until after the busiest weeks of summer, while those who do visit may have less time to tour multiple properties. At this point, these trends appear to be typical for this time of year, though the fall market will provide a clearer picture of the market’s overall direction.
Enjoy the rest of your July and hope to see you at the beach soon! Heather and Mandi
