Sales – The February statistics are in and the numbers look strong, with
residential sales up 4% and commercial sales up 100%. However, the
number of lot / land unit sales, which were our star performers in 2013, have
declined dramatically – down 40%.
Sales Price – Average sales price and the median sales price have declined
slightly (1% and 2% respectively), but this decline is not statistically
Under Contract - It should also be noted that the number of units placed in an
under contract status have declined – down 39%. The decline in this the
number of units placed in an under contract status could have a significant
impact on our sales season. The MLS will continue to track this statistic.
Distressed Sales – One of the more interesting February statistics is that the
number of sales of residential properties, listed as potential short sales, has
declined dramatically. In February 2012, Potential Short Sales contributed to
over 12% of all residential sales; however, in February 2014 they only
contributed only 1%.
Foreclosures – Dare County data shows that the number of units entering
foreclosure has declined dramatically over the last two years. In February
2012, 34 units entered foreclosed; however, in February 2014 only 25 units
entered foreclosure – down 26%.