August is here, and after a particularly hot summer, we are beginning to see those first signs that the peak season is winding down. The beaches and communities are still buzzing with summer visitors, but the days are getting a little shorter and fall is just around the corner. It has been a wonderful and busy summer on the Outer Banks, and we look forward to the change of season and all that September brings. For those of you with children or grandchildren heading back to school, we wish them, along with all of the teachers and school staff, a wonderful year ahead!
A local tax question headed to the ballot this November could affect both residents and visitors to Currituck County. Voters will decide whether to increase the county sales tax by a quarter cent, bringing the rate from 6.75% to 7%. County officials estimate the increase would generate about $2.3 million in additional revenue each year, which they hope to use toward infrastructure improvements and public safety services as the county continues to grow. The increase would apply to purchases such as vacation rentals, restaurant meals, clothing, and household goods, but would not apply to groceries, gasoline, prescription medications, or vehicles. Currituck voters considered a similar proposal in 2024, which was not approved, so it will be interesting to see how the measure is received this time around.
The July market numbers continue to show a healthy mix of activity across our beach communities, with some areas seeing more inventory while others continue to experience limited availability. In Corolla, the median single family sales price is up 3.2% year to date, while available inventory is down more than 15%. Nags Head is seeing a different trend, with the median sales price up 10% and inventory nearly 40% higher than a year ago. Overall, buyers are finding more opportunities in some areas, while well priced and well positioned properties continue to attract attention. As we head toward fall, we are encouraged by the continued activity and will be watching closely as the market takes its next seasonal turn.
Hope everyone is enjoying the end of summer! Heather and Mandi
