obx sandbar living monthly market update

Can you believe it’s August already?!?

As tourist season begins to wind down and back-to-school prep kicks into gear, we hope you've had a chance to soak up some sunshine and make lasting summer memories. While the beach crowds may be thinning, the vacation home market is still going strong—making this a great time to start planning your next move. Whether you're looking for a quiet offseason getaway or exploring investment opportunities, we're here to help every step of the way.

Here’s to a smooth end to summer,

-Danielle

Sold and Under Contract Analysis

SINGLE FAMILY RESIDENTIAL:

• YTD residential sales units are up <1% versus YTD 2024 

• YTD residential sales dollars are down 4.1% vs. YTD 2024 

• YTD median sale price is $705,000, down 1% vs. YTD 2024 (meaning that half of the properties sold above $710,000 and half sold below that price)

• YTD average sale price is $862,066, down 4.6% vs. YTD 2024

• July 2025 residential sales units were down 18.2% versus July 2024

• Sales units July ‘25 over June ‘25 were down 26%   

  • New listing inventory for July was up 2.3% versus June

• As a comparison, new listings for July ‘25 were down 17.3% versus July ‘24

• July residential sales volume vs. June was down 26.2%

• Active listings are down 4.3% versus June

• While year-over-year sales units are flat (up less than 1%), the median sold price is down slightly, and the average sold price is down 4.6%. On a monthly basis, we definitely noticed a lag for July, with sales units down 26% versus the month prior and down 18% versus the previous July. Given June’s robust numbers, it could be that more of the activity shifted to June (with buyers more eager to close in the early part of the rental season to maximize income). It will be interesting to see whether the numbers level out in August.

• While we are still seeing some multiple offer situations, we’re also seeing these occur after longer days on market and/or one or more price reductions. For our sellers, this makes pricing right at the outset super important in order to avoid price reductions and/or languishing on the market. For our buyers, waiting for a price drop on your dream home means you’ll actually be more likely to be competing with multiple offers.

• Buyers continue to have increased sensitivity to income potential and expenses, and are seeking a strong value proposition when it comes to amenities. If your home has a strong rental history, privately-owned amenities (such as pool, spa, game room, etc.), have low or no HOA dues (or have a great amenities-to-dues ratio), these factors might put you in a better position as a seller in this market.

  Now, let's look at month-over-month:

• Median sale price for all Residential property sold in July was $705,000, down 1% versus June ‘25. 

• July 2025's median sale price was down 4.9% versus July 2024.     

• July ‘25 vs. July ‘24, residential properties sold 29% slower. We’re seeing a reduction in cash buyers (down 11%) and disclosed multiple offers (down 5.1%) year over year (keep in mind that multiple offers are not a required disclosure in our MLS).

  RESIDENTIAL LOTS AND LAND:

• YTD residential land sales units are down 18% versus YTD 2024. 

• YTD residential land sales dollars are down 12% versus YTD 2024. 

• YTD residential land median sold price is $154,000, down 5% versus YTD 2024. 

• July residential land sales units were down 24% compared to July ‘24. 

• July residential land sales units were up 56% versus June ‘25. 

• July residential land sales dollars were down 16% versus July ‘24. 

• July residential land sales dollars were down 1% versus June ‘25.

inventory analysis

• New listing inventory for July 2025 was down 17.3% versus July 2024 and up 2.3% versus June’s new listings.

  • Drilling down, 134 new residential listings hit the market in June 2025, with 33.6% of those properties already sold or under contract.

• Average days on market for these is 2; median days on market is 2 (the new, good inventory is still moving fast!).

• 50% of the sold listings were cash; no multiple offers were disclosed (disclosure of multiple offers is not required by our MLS).

• See the chart below for the full breakdown by area…

days on market and distressed data analysis

• Average days on market for SOLD residential properties in July was 71, up 4.4% from June’s average of 68 days. 

  • As demonstrated in our pricing analysis chart below, we’re seeing increased days on market across the board in all pricing categories.

• The average home sold 29% slower in July 2025 (71 days) versus July 2024 (55 days).   

• The Median days on market in July was 48, meaning that half of the sold units did so in 48 days or less. 

• Year over year, the average DOM for properties sold in 2025 is 73 (up from 53 days YTD 2024), meaning that the average property sold 38% slower than one year ago. 

• Average days on market for all current ACTIVE residential listings is 121 days (up 5.2% versus June)

• Month-over-month, the average days on market for Under Contract properties is 61 days (down 15.5% vs 70 days in June 2025). 

• 33.5% of properties listed in July have already gone under contract or sold with an average days on market of 2. 

• It still rings true that homes that are priced consistent with their condition and/or are located in high demand areas per the chart above are still moving quickly and with multiple offers.

• For distressed sales (short sales and/or bank-owned properties), there were 0 sold units in July ‘25 (down from 1 in July 2024). There was 1 active distressed unit as of July 31, 2025.

pricing analysis

Residential Median Sale Price for YTD 2025 was $710,000, which was down 1% versus the year prior.

You’ll find a breakdown by price point below:

area data at-a-glance

*All market data presented is courtesy of the Outer Banks Association of REALTORS MLS Single Family Residential, Jan 1 - June 30, 2024 and 2025.

want future editions delivered straight to your inbox?

just fill out the form below: