November has started with unseasonably warm weather in the low to mid-70s. We are making the most of it, as we know it surely won’t last long!
Regardless of who you voted for, we can all agree that it is nice to have the presidential elections behind us. The multitude of candidate signs all over towns across America have been put away, and we can get back to normal for the next few years.
If you happen to drive along Highway 12 heading north through Southern Shores, you’ll notice the westside bike path/sidewalk construction is well underway. This will be a big improvement for the town and drastically help reduce bicycle and pedestrian risk. The town of Duck is also working on its plan to extend the bike path/sidewalk from Aqua Restaurant in Duck South on the west side to connect with the Southern Shores path. Duck is currently at the feasibility study stage of the project.
The Town of Kitty Hawk has opened a new walking, biking, and hiking trail. The trail is approximately one mile long and begins at the Town Hall located at 101 Veterans Memorial Drive in Kitty Hawk. The trail is a natural trail and focused on protecting wildlife and vegetation.
In real estate news, home prices along the Outer Banks have reached near-record highs. Residential Median Sales Price is up 9% from the third quarter of 2023 and up 5% for the year. Total inventory continues to rise, up 38% from the third quarter of 2023 and up 28% for the year. Total sales are down 2% from the third quarter of 2023 and down 9% for the year.
159 residential properties were sold in October. The sales prices ranged from $157,000 for a mobile home in Grandy to $4,300,000 for an oceanfront home in Pine Island. There were 6 homes sold for over $2,000,000. The average days on the market were 62 days, and the average sale price was 94% of the original asking price. The average sale price for all areas was $734,302. As of today, there are 228 residential properties under contract.