The October MLS Statistical Report has been posted. Despite a few declines, overall everything is holding steady.
Sales did decline 25% to 2,804 units sold compared to October 2021. However, things get exciting when discussing residential median sales price. Last month residential median price climbed to record $600,000 when compared to October 2021. That was a $93,000 increase, and it was a $5,000 increase compared to September 2022. Plus, year-to-date residential median sales price for October rose to $564,500 compared to October's year-to-date in 2021 which was an $88,500 increase. Even lots/lands median sale price rose 15% to $123,486 which was $16,436 higher compared to October 2021. It was also up $1,835 compared to September 2022.
Dare County issued 25 more permits in October 2022 which was an increase of 36 more permits than October 2021.
Town to Town Comparison
Again, real estate remained steady compared to September 2022. While overall sales declined compared to October 2021, Kitty Hawk had a minor increase in year-to-date sales. Kitty Hawk continues to have the lowest days on market at 21 compared to the overall days on market which was 34.
Once again, Duck had the highest median sales price at $900,000. That was an increase of $250,000 compared to October 2021 and an increase of $1,250 compared to September 2022.
Despite drops in overall sales compared to October 2021, the market is relatively stable compared to September 2022.