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Real Estate News in Bald Head Island - January 10th, 2017
The last quarter showed an increase of sale, the last week of September I wrote 8 contracts! Golf Course and forest homes are slowly creeping up. Many up 100,000 more than they were a year ago. The most sales have been oceanside where inventory under 1.5 million has dwindled. The only area where homes are oceanside under 1.5 is in the premier award winning neighborhood of floras bluff /killegray. The neighborhood that put BHI on the map where 67 homes are clustered together, designed by 2 Boston based architects and has a Cape Cod / Nantucket feel. There are 5 private boardwalks, only for homeowners and their guests, therefore beaches are always quiet! January 2017 has been extremely busy with rental requests. Holiday weeks are almost full for the large homes. Buyers are moving forward because of our low prices compared to the mainland beaches and the threat of increased interest rates. If you have been following the market for years I feel that we are almost to a point where purchas...
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News for Bald Head Island, NC - June 18th, 2010 10:34am
SUMMER SEASON IS HERE! So many new guests who had plans to vacation on the gulf coast are now changing their plans and vacationing with us on our beautiful island. Some great values in both lots and villas and small homes. Last month very busy with 20 offers for numerous homes/land, Please call to visit 910 470-2253, Mary Munroe
National Market Conditions
2017 3rd Quarter Market Report: Home Sales and Prices Hit a Wall

The 3rd quarter of 2017 ended with not much of a change from the 2nd quarter. Home sales are down slightly and home prices continue to rise with median home prices up 4.2% year over year, but down from the second quarter's 6.2% increase. The primary reason for the slow-down in sales is the limited number of homes for sale, higher prices and less buyers being able to afford to buy a home.

The most notable change in the 2nd quarter was a shift in the amount of buyer activity declining 16% from last quarter. Additionally we found a significant change in the amount of price appreciation. Although 91% of the markets reported price appreciation there was an 11% shift from those markets reporting 5-10% appreciation and over 10% appreciation to those markets reporting under 5% appreciation.

According the National association of Realtors (NAR) existing home prices were up 4.2% over last year; the inventory of unsold homes is at a 4.2 month supply and 48% of all homes were sold in under one month. Still home sales dropped overall due to the low inventory of homes for sale.

The data in this report is generated primarily from our survey of HouseHunt.com and MoveUp.com exclusive member real estate agents across the United States. This grass roots approach to studying the housing market gives us a thorough look at where the real estate market is through the eyes and perspective of the local real estate agents who are living and working in the trenches of each community.

Buyer and Seller Activity
The trend in buyer activity is significantly higher than seller activity, however there was a definite downward trend in the number of markets continuing to show increasing buyer activity in the 3rd quarter. Our Realtors reported increasing buyer activity in 73% of the markets - down 16% from last quarter, but up 7% compared to last year. Seller activity was increasing in 49% of the markets in the 3rd quarter which was no change from the 2nd quarter, but up 9% over last year.

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Spring 2018 Market Update
If you can qualify, now is an exceptional time to buy a home in Bald Head Island. Call now for more information at 910-470-2253. For the first quarter of 2016 we sold 14 properties (homes, land, timeshares) this year from Jan 1- april 1 we sold 54! Almost 4 times as much. Inventory for homes under 600,000 is Decreasing. Interest rates have increased from 3.2 before the election now 4.3% with the Fed thinking about raising them again. With the stock market going up, buyers have cashed out of the stock market and are now investing on property on the island.
Average Sold Home Price: $600,000

Average Time on Market: More than 120 days

Best Selling Price Range: $550,000 - $599,000

Existing Home Prices for the past 90 days: Increasing

Market Trend: Decreasing

Buyer's or Seller's Market: Equal buyers and sellers

Buyer Activity for the past 90 days: Increasing

Seller Activity for the past 90 days: No Change

Multiple Offers? Yes

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? 5-10%

Is Financing Available For Qualified Buyers? Yes

Housing Inventory: Limited Supply

Greatest Activity: Repeat Buyers

Best reason to buy or sell: Good economic news

Nearest Metro Area: Wilmington

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Real Estate Professional, Mary Munroe Mary Munroe
Mary Munroe Realty: Bald Head Vacations & Sales, Inc.
Specializing in Bald Head Island Real Estate
P.O. Box 3065
Bald Head Island, North Carolina 28461
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(Because current market conditions can change rapidly in any given marketplace,
please check with Mary Munroe for current Bald Head Island, NC market conditions before acting on this information.)
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