THE 2022 REAL ESTATE MARKET IS HOTTER THAN MCDONALD'S COFFEE!

HERE’S WHAT THE OBX IS SEEING AT THE START OF 2022….

• Inventory is down to 284 active listings from Corolla to Hatteras
• Homes currently under contract on their way to closing 676
• New home listings this month 207  

Our OBX market prediction for 2022  we are expecting prices to continue increasing, fueled by demand, low interest rates, and low housing inventory levels. 

Want to know what is going on in your town?

A Note to our Homeowners

I know you all must be sitting on the sidelines watching how HOT our market has been over the last two years. It’s been exciting! I’m always thrilled when I see a homeowner walk away from a closing table with more $$$$ then they ever thought possible. We have a few things going on in the market right now that we feel makes this the perfect time for our Owners to sell. 

LOW INVENTORY & HIGH BUYER DEMAND!

We had been in a buyers’ market for 13 years so this has been a long time coming for our owners!  We don’t know how long this seller’s market is going to last but if you have thought about selling– call us now and let us to do a market value report on your home to give you an idea of what you can expect to sell your home for.  Or maybe you just want to make sure you have enough insurance on your home?  Either way, we are here to provide you with a free-market analysis that is guaranteed to bring a smile to your face.  Look forward to hearing from you!  Call/text or email!

Some Examples of Recent Purchases and Sold Homes

1700 Paget Rd, Kill Devil Hills, condo purchased in 2013 for $140,000 sold Jan of 22 for $395,000 (+255,000)

103 Harbour Bay, Kitty Hawk, house purchased in 2019 for 392,000 sold May of 21 for $575,000 (+183,000)

1034 Mirage St, Corolla, house purchased in 2011 for $251,000 sold Sept of 22 for $456,000 (+205,000)

714 Spinnaker Arch, Corolla, house purchased in 2018 for $864,500 sold July of 21 for $1,245,000 (+380,500)

8215A Old Oregon Inlet, NH, house purchased in 2015 for $1,250,000 sold May of 21 $1,599,900 (+349,900)

One of our favorite OBX restaurants has changed hands, “THE BLUE POINT IN DUCK”.  Don’t worry, it’s staying in the family (sort of) John and Sam, are so pleased to pass on their “baby” to their employees Ryan, Jamie, and Leigh Raskin – 3 siblings who are passionate, capable, and enthusiastic restaurant professionals.  We have been in several times since and it’s running as the 5-star restaurant it is.  Along with this announcement, I thought it fitting to include one of their famous recipes

Instructions:

Do not shred crab meat.  Chill.  In a separate bowl lightly whisk together the eggs, mayonnaise, mustard, green onions and horseradish. Fold in the Old Bay, baking powder and bread crumbs.  Chill.

Remove from refrigerator and gently form crabmeat into individual cakes approx. three ounces each. This preparation can be done up to one day in advance.   To cook crabcakes, dust crabcakes in flour.  Heat peanut oil in a non-stick pan on medium heat for three to four minutes.  Pan fry crabcakes for two minutes on each side or until golden brown.  Remove from pan and drain on paper towels to remove excess oil.  Rewarm cakes in a preheated 300 degree oven for 5 minutes before serving. 

OBX WEDDING EXPO IS RIGHT AROUND THE CORNER

March 5th & 6th at the Sanctuary Vineyards

Saturday March 5th – 12pm to 8pm

Sunday March 6th – 9am – 2pm

If you have someone in your family getting married this is a “MUST GO TO” event.  NO UPCOMING WEDDINGS – GO ANYWAY.   The venue, Sanctuary Vineyards is worth checking out.  The Food Vendors (my favorite part) bring their best to this show.  You will be in heaven!  All you need is a $20.00 ticket – purchase in advance or at the door!

A sneak peek into some of the food vendors:

Basnight’s Lone Cedar Catering  

Black Pelican Catering

Dawn’s Kitchen Catering

Kelly’s OBX Catering

Red Skye Café

Steamers Restaurant

Almost Heaven Bakery

FOR SOME MORE MARCH FUN ON THE OBX

WE HAVE  “KELLY’S ST. PATRICK’S DAY PARADE ”

SUNDAY, MARCH 20TH AT 1PM

After two years of having to cancel due to COVID-19, Kelly’s Annual St. Patrick’s Day Parade will be back on in 2022. Parade Founder Mike Kelly, who has hosted the popular event for three decades, said the parade will be held on March 20 at 1 p.m. . The one-mile parade route along Virginia Dare Trail begins at Bladen Street at Milepost 11.5 and runs north to Driftwood Street.

HAPPY ST. PATRICK’S DAY TO ALL!   With a maiden name of McGowan, I will be celebrating as well!  Look for us in the parade!

Do you own an OBX Vacation Rental?

Is your vacation rental home MAXIMIZING its rental potential?  Sara Kristof with Village Realty has shared with us the top searches of what OBX renters are looking for.

Kathleen and Alex Argiroff (The Argiroff Group) hope you enjoyed this installment of OBX Realtor.

 
As always if you, a family member or friend are thinking of buying, selling or just want to get an idea of what your property is worth in today’s market don’t hesitate to call, text or email. We always look forward to hearing from you!

*From 2005 to Present | Each office is independently owned and operated.