Is there a housing shortage in Nags Head NC?According to various sources, Nags Head and the Outer Banks region are facing a serious challenge of affordable housing for both residents and workers. The median sale price of a home in Nags Head was $703K in June 2023, down 13.5% since last year, but still 67% higher than the national average . A survey conducted by Public Policy Polling in May 2022 found that 59% of North Carolinians agreed that affordable housing is a major problem in their communities, and 48% said state leaders should intervene to help alleviate the shortages . The problem is exacerbated by the lack of rental housing for seasonal workers, many of whom come from overseas and are unable to get visas due to the pandemic . The Outer Banks Chamber of Commerce has been advocat... 09/08/2023

The Nags Head NC real estate market is a popular destination for buyers who are looking for a coastal lifestyle, scenic views, and a variety of properties to choose from. The market offers a range of options, from oceanfront homes and condos, to soundside cottages and townhomes, to historic landmarks and new developments. The average home price in Nags Head NC is $608,000, which is higher than the national average of $295,300. However, the market also has some affordable options, especially for buyers who are willing to compromise on location or size. The market is influenced by seasonal demand, as many buyers are looking for vacation rentals or second homes. The peak season is from May to September, when the weather is warm and the beaches are crowded. The off-season is from October to... 08/27/2023

The George Stronach Subdivision real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners right now are reluctant to sell for some reason which has created a lack of  home inventory for sale which in turn is keeping the George T Stronach Subdivision home sales strong and the prices up.      Residential Homes Sold In George T Stronach Subdivision in Nags Head NC From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     2     $4,260,000     $2,130,000     $2,130,000     117          Analysis By Area                   Nags Head Oceanside     2     $4,260,000     $2,130,000     $2,130,000     117                   Tot... 04/18/2023

The Southridge real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners right now are reluctant to sell for some reason which has created a lack of  home inventory for sale which in turn is keeping Southridge home sales strong and the prices up.      Residential Homes Sold In Southridge in Nags Head NC From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     2     $1,315,900     $657,950     $657,950     35                   Cash     1     $490,000     $490,000     $490,000     27          Analysis By Area                   Nags Head Westside     3     $1,805,900     $601,967     $654,900     32                 ... 04/18/2023

The Nags Head Shores real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners right now are reluctant to sell for some reason which has created a lack of  home inventory for sale which in turn is keeping Nags Head Shores home sales strong and the prices up.      Residential Homes Sold In Nags Head Shores in Nags Head NC From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     4     $3,810,776     $952,694     $859,500     56                   Cash     2     $1,075,500     $537,750     $537,750     5                   Owner Finance     1     $900,000     $900,000     $900,000     139          Analysis By Area    ... 04/18/2023

The Nags Head real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners are reluctant to sell right now and the lack of inventory is keeping Nags Head home sales strong and the prices up.           Residential Homes Sold In Nags Head NC From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     28     $24,241,356     $865,763     $690,888     48                   Cash     11     $8,459,550     $769,050     $679,000     45                   Owner Finance     1     $900,000     $900,000     $900,000     139                   Jumbo Loan     1     $1,550,000     $1,550,000     $1,550,000     35          Analysis By Are... 04/17/2023

The Nags Head Acres real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners are reluctant to sell right now and the lack of inventory is keeping the Nags Head Acres home sales strong and the prices up.  Residential Homes Sold in Nags Head Acres in Nags Head From January 1, 2023 to April 11, 2023          No. of Listings     Dollar Volume     Average Price     Median Price     Average DOM       RESIDENTIAL                   Conventional     1     $490,000     $490,000     $490,000     73                   Cash     2     $995,250     $497,625     $497,625     79          Analysis By Area                   Nags Head Westside     3     $1,485,250     $495,083     $490,000     77                   Totals     3     $1,485,250     $495,083     ... 04/17/2023

The Old Nags Head Cove real estate market is moving along briskly considering there is a shortage of homes for sale. Home owners are reluctant to sell right now and the lack of inventory is keeping Old Nags Head Cove home sales strong and the prices up. Residential Homes Sold In Old Nags Head Cove in Nags Head NC From January 1, 2023 to April 11, 2023   No. of Listings Dollar Volume Average Price Median Price Average DOM   RESIDENTIAL Conventional 5 $2,274,780 $454,956 $420,000 17   Analysis By Area Nags Head Westside 5 $2,274,780 $454,956 $420,000 17 Totals 5 $2,274,780 $454,956 $420,000 17   Non Co-op Sales 0       0 Co-op Sales 5 $2,274,780 $454,956 $420,000 17 Total Sales 5 $2,274,780 $454,956 $420,000 17   Residential Homes Sold in Old Nags Head Cove in Nags Head From January 1, 20... 04/11/2023

Forget what all the talking heads are saying. The real estate market is not crashing. It might be depressed in some areas but not in Nags Heads on the Outer Banks.While the Nags Head home sales market size has shrunken considerably , the prices for homes are continuing to go up. This might be because property owners have become reluctant to sell which is keeping the inventory low which always boosts real estate prices.The number of home sales dropped 40% from 2021 to 2022  and the median price went  up  17% from $665,000 in 2021 to $800,000 in 2022.  Nags Head Home Sales in 2021   No. of Listings Dollar Volume Average Price Median Price Average DOM   RESIDENTIAL Other 6 $7,405,000 $1,234,167 $915,000 68 Conventional 209 $147,997,959 $708,124 $610,000 40 FHA 1 $335,000 $335,000 $335,000 ... 01/13/2023

As soon as the real estate market in Nags Head Slowed down from an insanely crazy 10 offers on the first day of a house coming on the market for sale to a better than normal pace, everyone started calling it a crash, the Bubble Burst, the end of times is nigh!The truth is, home prices are still going up in Nags Head and we are still getting multiple offers on properties and sales are still over asking price. Buyers are still paying the high prices. Gone are the days of fierce competition between buyers with the goal of winning at any cost. This a is a win-win for both sides, the seller gets their price and buyers don't have to engage in a bidding war.As you can see from the data below, we sold 30% less homes in 2022 than the previous year and at a price 25% higher than previously. Price... 07/31/2022

Sold Market Nags Head Homes Sold During 2021   No. of Listings Dollar Volume Average Price Median Price Average DOM   RESIDENTIAL Other 6 $7,405,000 $1,234,167 $915,000 68 Conventional 233 $160,096,509 $687,109 $575,000 42 FHA 1 $335,000 $335,000 $335,000 9 VA 3 $1,469,900 $489,967 $465,000 37 Cash 63 $56,412,890 $895,443 $660,000 28 Owner Finance 1 $501,000 $501,000 $501,000 6 Jumbo Loan 32 $59,734,500 $1,866,703 $1,858,750 65   Analysis By Area Nags Head Oceanside 69 $106,953,300 $1,550,048 $1,399,900 48 S. N.H. East/Old Oregon R 60 $53,865,293 $897,755 $705,000 67 Nags Head between hwys 72 $52,877,687 $734,412 $720,250 26 S. N.H. West/Old Oregon R 21 $15,479,317 $737,110 $685,000 52 Nags Head Westside 117 $56,779,202 $485,292 $446,007 34 Totals 339 $285,954,799 $843,524 $626,000 42 ... 01/11/2022

Homes In Nags Head NC Sold During 2020   No. of Listings Dollar Volume Average Price Median Price Average DOM   RESIDENTIAL Other 2 $814,000 $407,000 $407,000 56 Conventional 199 $109,312,143 $549,307 $480,000 80 FHA 1 $315,000 $315,000 $315,000 1 VA 9 $4,260,900 $473,433 $380,000 75 Cash 59 $32,855,950 $556,881 $450,000 70 Owner Finance 2 $595,000 $297,500 $297,500 243 Private 1 $212,500 $212,500 $212,500 91 Jumbo Loan 17 $19,310,752 $1,135,927 $1,130,000 105 USDA 1 $260,000 $260,000 $260,000 16   Analysis By Area Nags Head Oceanside 43 $40,304,794 $937,321 $945,000 123 S. N.H. East/Old Oregon R 42 $31,505,100 $750,121 $636,500 68 Nags Head between hwys 66 $35,591,300 $539,262 $555,000 94 S. N.H. West/Old Oregon R 20 $9,859,450 $492,973 $450,000 79 Nags Head Westside 120 $50,675,601 $... 01/08/2021

Sold Market Villages At Nags Head Real Estate Sold June 1, 2020 Through Sept 1. 2020   No. of Listings Dollar Volume Average Price Median Price Average DOM   RESIDENTIAL Conventional 13 $7,040,300 $541,562 $475,000 106 Cash 4 $1,698,000 $424,500 $439,000 45 Owner Finance 1 $360,000 $360,000 $360,000 316   Analysis By Area Nags Head Oceanside 1 $1,325,000 $1,325,000 $1,325,000 272 Nags Head between hwys 5 $2,485,500 $497,100 $485,000 39 Nags Head Westside 12 $5,287,800 $440,650 $419,600 117 Totals 18 $9,098,300 $505,461 $460,600 104 LOTS/LAND Cash 1 $143,000 $143,000 $143,000 195   Analysis By Area Nags Head Westside 1 $143,000 $143,000 $143,000 195 Totals 1 $143,000 $143,000 $143,000 195   Non Co-op Sales 4 $1,901,500 $475,375 $496,250 70 Co-op Sales 15 $7,339,800 $489,320 $446,200 119... 09/23/2020

Sold Market Nags Head Real Estate Sold June 1, 2020 Through Sept 1, 2020   No. of Listings Dollar Volume Average Price Median Price Average DOM   RESIDENTIAL Other 2 $814,000 $407,000 $407,000 56 Conventional 58 $30,228,001 $521,172 $482,500 103 VA 2 $1,018,000 $509,000 $509,000 38 Cash 17 $7,142,500 $420,147 $393,000 90 Owner Finance 1 $360,000 $360,000 $360,000 316 Private 1 $212,500 $212,500 $212,500 91   Analysis By Area Nags Head Oceanside 6 $3,925,900 $654,317 $639,500 228 S. N.H. East/Old Oregon R 8 $3,634,400 $454,300 $500,000 43 Nags Head between hwys 24 $12,733,500 $530,563 $545,000 109 S. N.H. West/Old Oregon R 9 $3,939,500 $437,722 $435,000 147 Nags Head Westside 34 $15,541,701 $457,109 $384,000 73 Totals 81 $39,775,001 $491,049 $459,000 100 LOTS/LAND Other 1 $120,000 $120,... 09/23/2020

Sold Market Nags Head Real Estate Sold Jan 1, 2019 Through Jan 1, 2020   No. of Listings Dollar Volume Average Price Median Price Average DOM   RESIDENTIAL Other 3 $3,840,000 $1,280,000 $1,795,000 168 Conventional 164 $81,811,461 $498,850 $414,325 104 FHA 6 $1,864,400 $310,733 $286,500 115 VA 1 $250,000 $250,000 $250,000 195 Cash 38 $16,356,800 $430,442 $363,750 108 Owner Finance 2 $725,000 $362,500 $362,500 135 Jumbo Loan 3 $3,490,000 $1,163,333 $1,155,000 41   Analysis By Area Nags Head Oceanside 29 $25,926,931 $894,032 $839,000 99 S. N.H. East/Old Oregon R 28 $18,809,422 $671,765 $495,000 89 Nags Head between hwys 50 $22,637,350 $452,747 $427,500 154 S. N.H. West/Old Oregon R 16 $6,808,580 $425,536 $408,815 111 Nags Head Westside 94 $34,155,378 $363,355 $315,625 86 Totals 217 $108,3... 03/01/2020

Sold Market Southridge Real Estate Sold Jan 1, 2019 Through Jan 1, 2020   No. of Listings Dollar Volume Average Price Median Price Average DOM   RESIDENTIAL Conventional 10 $3,737,300 $373,730 $360,000 62 Cash 1 $479,000 $479,000 $479,000 91   Analysis By Area Nags Head Westside 11 $4,216,300 $383,300 $380,000 64 Totals 11 $4,216,300 $383,300 $380,000 64 RESIDENTIAL LONG TRM RENT Rented 1 $1,650 $1,650 $1,650 7   Analysis By Area Nags Head Westside 1 $1,650 $1,650 $1,650 7 Totals 1 $1,650 $1,650 $1,650 7   Non Co-op Sales 3 $799,650 $266,550 $340,000 63 Co-op Sales 9 $3,418,300 $379,811 $380,000 59 Total Sales 12 $4,217,950 $351,496 $360,000 60   Sold Market Southridge Real Estate Sold Jan 1, 2018 Through Jan 1, 2019   No. of Listings Dollar Volume Average Price Median Price Average DO... 03/01/2020

Sold Market Vista Colony Real Estate Sold Jan 1, 2019 Through Jan 1, 2020   No. of Listings Dollar Volume Average Price Median Price Average DOM   RESIDENTIAL Conventional 4 $1,085,675 $271,419 $264,337 52 FHA 2 $565,000 $282,500 $282,500 78 VA 1 $250,000 $250,000 $250,000 195 Cash 3 $727,900 $242,633 $229,000 34   Analysis By Area Nags Head between hwys 2 $584,900 $292,450 $292,450 4 Nags Head Westside 8 $2,043,675 $255,459 $263,337 82 Totals 10 $2,628,575 $262,858 $263,337 66   Non Co-op Sales 0       0 Co-op Sales 10 $2,628,575 $262,858 $263,337 66 Total Sales 10 $2,628,575 $262,858 $263,337 66   Sold Market Vista Colony Real Estate Sold Jan 1. 2018 Through Jan 1, 2019   No. of Listings Dollar Volume Average Price Median Price Average DOM   RESIDENTIAL Conventional 2 $604,360 $302,1... 03/01/2020

Sold Market Old Nags Head Cove Real Estate Sold Jan 1, 2019 Through Jan 1, 2020   No. of Listings Dollar Volume Average Price Median Price Average DOM   RESIDENTIAL Conventional 16 $5,596,400 $349,775 $317,500 60 FHA 1 $357,500 $357,500 $357,500 196 Cash 5 $1,338,000 $267,600 $240,000 138 Owner Finance 1 $250,000 $250,000 $250,000 37   Analysis By Area Nags Head Westside 23 $7,541,900 $327,909 $300,000 82 Totals 23 $7,541,900 $327,909 $300,000 82   Non Co-op Sales 2 $629,000 $314,500 $314,500 57 Co-op Sales 21 $6,912,900 $329,186 $300,000 84 Total Sales 23 $7,541,900 $327,909 $300,000 82   Sold Market Old Nags Head Cove Real Estate Sold Jan 1, 2018 Through Jan 1, 2019   No. of Listings Dollar Volume Average Price Median Price Average DOM   RESIDENTIAL Conventional 15 $5,190,999 $346,06... 03/01/2020

Sold Market Nags Head Shores Real Estate Sold Jan 1 , 2019 Through Jan 1, 2020   No. of Listings Dollar Volume Average Price Median Price Average DOM   RESIDENTIAL Other 2 $3,590,000 $1,795,000 $1,795,000 241 Conventional 5 $2,101,900 $420,380 $464,900 172 Cash 8 $2,204,500 $275,563 $129,000 106 Jumbo Loan 1 $1,300,000 $1,300,000 $1,300,000 30   Analysis By Area Nags Head Oceanside 9 $6,313,000 $701,444 $499,500 132 Nags Head between hwys 7 $2,883,400 $411,914 $350,000 147 Totals 16 $9,196,400 $574,775 $407,450 139 LOTS/LAND Conventional 1 $730,000 $730,000 $730,000 844 Cash 1 $186,000 $186,000 $186,000 10 Jumbo Loan 1 $700,000 $700,000 $700,000 34   Analysis By Area Nags Head Oceanside 2 $1,430,000 $715,000 $715,000 439 Nags Head between hwys 1 $186,000 $186,000 $186,000 10 Totals 3 $... 03/01/2020

Sold Market Nags Head Acres Real Estate Sold Jan 1, 2019 Through Jan 1, 2020   No. of Listings Dollar Volume Average Price Median Price Average DOM   RESIDENTIAL Conventional 2 $615,000 $307,500 $307,500 162 FHA 1 $399,900 $399,900 $399,900 311 Cash 1 $470,000 $470,000 $470,000 51   Analysis By Area Nags Head Westside 4 $1,484,900 $371,225 $355,950 171 Totals 4 $1,484,900 $371,225 $355,950 171   Non Co-op Sales 1 $470,000 $470,000 $470,000 51 Co-op Sales 3 $1,014,900 $338,300 $312,000 211 Total Sales 4 $1,484,900 $371,225 $355,950 171   Sold Market Nags Head Acres Real Estate Sold Jan 1, 2018 Through Jan 1, 2019   No. of Listings Dollar Volume Average Price Median Price Average DOM   RESIDENTIAL Conventional 6 $2,049,000 $341,500 $353,500 47   Analysis By Area Nags Head Westside 6 $2,0... 03/01/2020