OBX Market Report Fall 2023

OBX Market Report Fall 2023

After finishing school in 1989, I immediately started my real estate career on the Outer Banks.  The other Realtors who had been working in this market for a while kept saying "You should have been here last year."  Evidently, I had just missed the peak of that previous real estate cycle.  New agents who enter the market today are likley to hear simliar comments. After close to three years of very busy real estate activity, the Outer Banks Real Estate Market is showing some signs of cooling … Continue reading...

OBX Market Info Spring 2023

Are home prices dropping on the Outer Banks? Opinions vary on this and it’s difficult to quantify.  However, it’s clear that the number of real estate transactions has gone down significantly compared to the same period of 2022.   Just because the number of sales is down does not mean values have gone down. On the other hand, fewer transactions often help cause lower values.  This post will outline some recent statistics and OBX Market Info for the spring of 2023. Supply The indicator that … Continue reading...

Is the Outer Banks a good investment?

outer banks a good investment

We frequently receive inquires from potential buyers who want to purchase an Outer Banks property that has a positive cash flow. It’s amazing how many people today want to become landlords! In many places of the country, you can purchase a house, possibly make some improvements, and then have a tenant pay the mortgage and expenses. This is a great way to create wealth. So is the Outer Banks a good investment? You can use our vacation rental home calculator to determine if a specific house has … Continue reading...

Get OBX Market Exposure

Since 2020, we have seen the housing market explode.  Some expected this to fizzle out in 2021, but three months into 2022 and the housing market, especially in the OBX is hot.  More importantly, there is a lack of inventory, which is sending prices up.  Inventory is down 34% between February 2021 and February 2022. Current inventory in the Outer Banks Association of Realtors’ MLS system is sitting near 700 properties whereas last year it was just over a thousand.  Moreover, in March 2020, there … Continue reading...

Solution to OBX Rental Income Dilemma

I think there is a solution to the OBX rental income dilemma. This article will explain this problem and provide a solution so that, hopefully, people don’t have to be in this position in the future. The problem As of this moment no visitors are allowed on the Outer Banks. Local government is concerned that our limited health care facilities could quickly become overwhelmed by the pandemic. There is no set date when vacationers will be allowed back in. This could become a real problem for … Continue reading...

Virus Effects to Outer Banks Real Estate

With access to Dare and Currituck County beaches closed off to most people without local driver's licenses, we are sure to see some virus effects to Outer Banks Real estate. Some changes to the busy Outer Banks real estate market are already happening. Probably the most affected type of property is homes for sale since people can not get here. Here are some initial thoughts about how local real estate is being affected. Comparing Months It makes sense to compare residential real estate … Continue reading...

Dare County 2020 Tax Revaluation

This past Thursday I received my Dare County Tax Revaluation in the mail. By Noon on Friday I had received numerous calls or visits from OBX property owners wanting to know if this is really what their house is worth. This post is a little bit about this new revaluation. Hopefully it will help you in your decision about what to do next. What is a revaluation? The state requires that counties revalue property values at least once every eight years. Dare County decided to complete their … Continue reading...

Spring 2018 OBX Real Estate Conditions

Real estate conditions on the Outer Banks are improving. Both average sales prices and median sales prices are higher than they were for the first quarter of 2017. According to the Outer Banks Association’s MLS system average prices are up 7% over last year and median prices are up 1%. Another indicator pointing towards appreciation is the sold price per square foot. You can see that trend in this report. It’s interesting that these indicators point towards appreciation even though the number of … Continue reading...

About Us

Our goal is to make this site the most consumer friendly web site for folks who are looking to buy or sell Outer Banks real estate.

Outer Banks real estate is always changing. This site will also change to provide you with the most recent and valuable information available so you can make the best buying or selling decision possible.

Address: 5535 N Croatan Hwy
Southern Shores, NC 27949
Phone: 866-438-8382

  

Credentials

Accredited Buyer's Representative
Accredited Buyer's Representative
Certified Real Estate Brokerage
Certified Real Estate Brokerage
NAR's e-PRO®
NAR's e-PRO®
Resort & Second Home Property Specialist
Resort & Second Home Property Specialist
Senior Real Estate Specialist
Senior Real Estate Specialist

CLIENT REVIEWS

Jacob Keenan

Jeff Scott and team helped my fiancé and I find the perfect home. They treated us with kindness and dealt with this fast moving market with professionalism. Definitely a very trustworthy organization who I will be recommending to anyone looking to buy in the Outer Banks.

Ted Piazza

Great communication from afar. I hope to avail myself of their services in person.

Tony Salamone

I’ve dealt with several realtors over the years and gotta say that Jeff at Scott Team Realty was the abosolutely the best, and would highly recommend anyone purchasing a home on the OBX to check him out…

David Kravitz

Jeff was professional, thorough
and was easy to get in contact with for any questions or issues that needed to be answered. We would highly recommend him for a sales agent.

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