In the June 2021 report, the MLS reported that, although the summer was heating up, sales were starting to cool down. In July we saw this trend continue with monthly sales down 20% and total inventory down 32%. However, the total number of sales are up 65% since last year. Here is the breakdown:

• Residential Inventory - 2020 - 881 units / 2021 - 477 units - down 46%

• Lot / Land Inventory - 2020 - 699 units / 2021 - 583 units - down 17%

• Residential Unit Sales - 2020 - 1412 units / 2021 - 2144 - up by 52%

• Lot / Land Unit Sales - 2020 - 234 / 2021 - 579 - up by 147%

• Under contract listings have fallen off a little - down 23%

OTHER IMPORTANT NOTES!

• Distressed property is practically non-existent.

• Building Permits are up again over last year.

Here’s the numbers by town:

**Important to note…while every town is experiencing a dip in the number of sales compared to July 2020, EVERY Town is UP from July 2019. **

This representation is based in whole or in part on data supplied by, and to the Subscribers of the Outer Banks Association of REALTORS® Multiple Listing Service. Information contained herein is deemed reliable but not guaranteed. Data maintained by the OBAR MLS is for its own use and may not reflect all real estate activity in the market, July 2021.