February MLS Fun Facts
- 204 properties were listed, compared to 214 the previous month.
- As of today, 52 of those 204 properties are either under contract (50) or sold (2).
- 123 properties went under contract in February, slightly below the 130 that went under contract in January.
- On average, properties sold for 93% of their original asking price.
- 16 properties sold for 100% or more of the asking price.
- 27% of sales (24 properties) were cash transactions; 8 were VA/FHA loans, 3 were jumbo loans, 1 was owner-financed, and the remainder were financed with conventional loans.
- 6 homes sold for more than $2 million, including 3 sales above $3 million.
- The highest sale of the month was an 8-bedroom, 7.5-bath oceanfront home in the Seapines subdivision of Duck, which sold for $3.5 million.
- 27 single-family homes sold for under $500,000, including 9 that sold for under $400,000.
Market Metrics - OBX Statistics
Total Properties for Sale: 917
Average Properties Selling Per Month: 109
Months of Remaining Inventory: 8.4
Average New Listings Per Month: 213
If you’re thinking about selling, it’s worth remembering what happened during the 2008 market cycle. At that point, many sellers chose to wait, hoping prices would rebound, while buyers held off, expecting prices to soften further. In a declining market, waiting rarely benefits the seller.
If your goal is to maximize your net proceeds, selling earlier in the cycle rather than later is often the stronger strategy. Reach out for a detailed analysis of your home and its position in today’s market.