Hatteras Island Real Estate Blog

2009 has gotten off to a good start for the Hatteras Island real estate market.  President’s Day weekend was especially active - agents called to show our properties; prospective buyers called to ask about the prices of specific properties; sellers called in to reduce their asking prices, and, several properties went under contract or have offers working on them!  In addition, these encouraging things are happening:

• Between December and February the inventory of residential properties on the island decreased from 451 to 418, and the supply of lots dropped from 269 to 235.
• The Hatteras Island Pending Home Sales Index, an indicator of future sales, has risen 78 percent since December.
• Interest rates for conventional mortgages are at or near an historical low point.
• The number of foreclosed residential properties for sale on the island has decreased 36 percent since December.

While it would be far too premature to suggest that these statistics represent the market turnaround that we have all been awaiting, they do seem to reflect a sense that buyers are starting to recognize the value in today’s prices.

If you or someone that you know has an interest in taking advantage of today’s favorable market conditions, please contact us by phone at 866.942.4959 or by e-mail at hranicka@hatterasisland.com for a free consultation.  It would be our pleasure to put our experience in the Hatteras Island real estate market to work for you.

This entry was posted on Saturday, February 21st, 2009 at 5:28 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.