Hatteras Island
Real Estate Newsletter







Tom & Louise Hranicka - P.O. Box 280 - Avon, NC 27915 
Fall 2019 

Real Estate Market Indicators – A Broader Perspective

By: Tom & Louise Hranicka, Associate Brokers, Outer Beaches Realty

Typically, we tend to see statistical indicators presented on a short-term daily or monthly basis. This orientation can lead us to sometimes overlook broader market trends. In this article, I would like to share the residential real estate patterns on Hatteras Island since the beginning of this year.

HATTERAS ISLAND 2019 RESIDENTIAL MARKET INDICATORS BY QUARTER

Homes

March

June

September

# For Sale

+17.1%

+14.7%

+3.1%

# Sold

+13.0%

+4.7%

-3.9%

Avg Sale Price

-0.4%

+1.1%

+3.2%

Median Sale Price

+10.9%

+13.6%

+8.2%

Sales Volume

+12.6%

+5.9%

-1.4%

# Under Contract

+4.9%

-20.0%

+40.0%

Note: Percentages are cumulative compared to the same periods in 2018, i.e., Jan-Mar, Jan-Jun, Jan-Sep.

Conclusions that we might draw from this graphic are:

  • The residential real estate market has slowed as the year progressed. Except for the median sale price, the market is basically flat through September when compared to 2018. This is somewhat surprising since visitation numbers, meal tax receipts, and occupancy tax receipts are all up for the year.
  • Homes for sale may reflect seasonal patterns.
  • Residential sales have definitely slowed since the early part of the year. This may suggest buyers purchasing in advance of the start of the rental season.
  • The average sale price showed modest improvement through September.
  • The median sale price has consistently demonstrated significant strength throughout the year. Despite slowing sales, prices have increased.
  • The total dollar value of sales also weakened in response to fewer sales.
  • There is no clear pattern concerning the wide swings in residential sales under contract to be sold. Not all properties that are placed under contract end up going to settlement. Also, we are dealing with relatively small numbers (usually less than 50) which tends to amplify percentage changes.

While the central conclusion is that the residential market through September is basically where it was at this time last year, seeing the trends over time gives us insight into how the market has reached its current position.

We work hard to stay on top of market trends so that we can provide the best real-time guidance to our buyer and seller clients. If you have considered listing your cottage or lot for sale, we encourage you to contact us for a no cost/no obligation probable sale price analysis. To reach us by phone, call us at 252.305.1556, or contact us by e-mail at hranicka@hatterasisland.com. We look forward to being of service to you.

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Tom & Louise Hranicka
Associate Brokers
Outer Beaches Realty
Avon, NC 27915
252.305.1556
hranicka@hatterasisland.com
https://www.hatterasisland.com/

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Copyright 2019 Tom & Louise Hranicka. All rights reserved.

 

 

 
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