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 
significant. 
 
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%.