Well… here it is!
The long awaited real estate market update for February 2023! They sure took their time when publishing this one…
The local Real Estate Market, on paper, is still holding strong in the Oak Island and Southport North Carolina region. Home sales are staying steady and inventory levels are not increasing drastically, yet.
Historically the Real Estate Market in our local area of Oak Island and Southport North Carolina sees a huge increase in homes, beach homes, and town-homes going on the market during this time of the year. This huge increase of home inventory in a small geographic area usually tends to lower home sale prices, because home buyers get to “pick and choose”.
Only time will tell how many houses come on the market in Oak Island NC and if in fact they will be bought up in a reasonable amount of time. As it looks now many beach homes are coming on the market and staying on the market. We are seeing an increase in the amount of the days on the market before homes go under contract.
Until Next Month!
