Real Estate Information Archive

Blog

Displaying blog entries 1-2 of 2

Corolla Real Estate - Market Conditions Report - September 2017*

by Holleay Parcker

Corolla Real Estate – Market Report – 9/17*

The Corolla real estate market is thriving!  If you’ve been thinking about purchasing a home for sale in Corolla, you really should get off the fence, as the median sales price year to date in 2017 has increased a whopping 13% over median values in 2016.* Further, while there are still 3 more months to go in 2017, every indication is that we are on track to exceed the number of units sold in 2016.*

Inventory is down, and there are more buyers competing for fewer homes.  I’ve had several instances this year where there were multiple bids on properties, something that hasn’t happened much since the Corolla foreclosure market dried up.  These multiple offers were on non-distressed properties; as I say, there is more competition today for homes in the Corolla real estate market.

If you’re interested in exploring what properties might best serve you and your family’s needs, why not call your Corolla real estate agent Holleay Parcker today at 252.207.1617 and let’s get started finding your perfect Corolla home for sale.   


 

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.

*YTD figures are based on information from the Outer Banks Association of REALTORS® MLS for the period January 1, 2017 through September 30, 2017. Historical data from OBAR MLS for the period 1/1/2013 – 12/31/16.

Corolla Real Estate - Market Conditions Report - August 2016

by Holleay Parcker

I’m frequently asked how the Corolla real estate market is doing.  From the chart below, you can see that the median sales price of residential home sales in Corolla year to date in 2016 is lower than it has been since 2012.  With historically low interest rates AND low values, now is a great time to consider purchasing Corolla homes for sale.

Further, we are now entering our annual sales cycle that benefits buyers.  You see, in the spring, before the rental season begins, sellers can command a higher price for their Corolla home, because the buyer will receive the full year’s income.  In the fall, however, Outer Banks sellers have received the income on their Corolla investment property for the year, and typically discount the sales price for this reason. 

Additionally, buyers interested in purchasing Corolla real estate need to be aware of the fact that our market is changing.  We are experiencing the lowest levels of inventory in recent years, and as a result, properties that are priced to the market are selling quickly.

So, let’s review why NOW is an excellent time to buy an investment property for sale in Corolla:

  1.  Historically low interest rates
  2.  Lower median sales price
  3.  Overall, the fall is a buyer’s market, whereas the spring is a seller’s market
  4.  The market is changing from a buyer’s market into a seller’s market, with low inventory, and priced right properties are selling quickly

Of course, there are different subsections of the Corolla real estate market.  Buyers who are considering purchasing a Corolla oceanfront home for sale have different questions and issues to address than those who are looking to buy a Corolla soundfront home for sale.  And the many differences that exist between those two types of purchases are simply beyond the scope of this discussion.

As your Outer Banks real estate agent, I’m happy to answer your questions and provide you with the information you need to make an informed decision.  Call me today at 252.207.1617 to discuss your real estate needs, whether you’re buying or selling.  

 

Corolla Real Estate - Market Conditions – August 2016*

 

Residential Units Sold

 

Jan

Feb

Mar

April

May

June

July

Aug

Sept

Oct

Nov

Dec

YTD

2012

12

13

26

14

22

20

12

15

9

19

29

12

204

2013

11

11

17

23

19

14

12

16

5

19

16

16

179

2014

9

9

12

17

16

19

12

15

20

13

11

24

177

2015

17

14

17

21

18

30

16

17

19

10

16

21

216

2016

18

11

14

25

26

25

17

21

 

 

 

 

157

 

 

Year

Median Sale Price

Percent Change

2012

$500,000

-5%

2013

$480,000

-4%

2014

$470,000

-2%

2015

$493,950

5%

2016

$460,000

-7%

 

 *2016 numbers reflect Year to Date values

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.

*YTD figures are based on information from the Outer Banks Association of REALTORS® MLS for the period January 1, 2016 through August 31, 2016. Historical data from OBAR MLS for the period 1/1/2012 – 12/31/15.

 

 


 

 

   

Displaying blog entries 1-2 of 2

Syndication

Categories

Archives

Contact Information

Photo of Holleay Parcker Real Estate
Holleay Parcker
Spinnaker Realty LLC
4012 Creek Road
Kitty Hawk NC 27949
252.207.1617