While it's taken a little bit longer to sell homes on Oak Island the average sales price has got her foot on the gas. It jumped a whopping 23.31% in August 2024 reaching $835,628. The Year To Date numbers reflect a similar increase in average sales price of $747,938 which is a 20.59% increase.
Take a peek đ§ at all the other numbers and then let's chat if you are thinking about selling your Oak Island property. It may take a little longer to get it sold but let me tell you it will be time well spent.
Market Overview for August 2024:
Absorption Rate: Increased by 105.06% year-over-year (YoY) from 2.37 to 4.86.
Average List Price: Increased by .88% YoY, reaching $810,020
Median List Price: Dropped by 5.89%, now at $695,000.
Average Sale Price: Up a whopping 23.31%, now at $835,628
Median Sale Price: Grew by 15.15%, rising to $688,000
Average CDOMÂ (Days on Market): Increased by 37.68%, up to 95 days.
Year-to-Date (YTD) Comparisons (2024 vs. 2023):
Average List Price: Up by 16.10%, from $687,198 to $797,805
Average Sale Price: Increased by 20.59%, now at $747,938
Median Sale Price: Rose by 14.49%, standing at $640,000.
Median CDOM: Increased by 46.88%, now at 47 days compared to 32 in 2023.
Download the Full Oak Island Residential Market Summary for August 2024
Information is deemed to be reliable, but is not guaranteed. Data may have come from public tax records. Š 2024 MLS and FBS. Prepared by Jess Wainwright on Wednesday, September 11, 2024 3:28 PM.Â
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