OBX Market Update | August 2026

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August brought a softer pace to the market, with just 108 units sold — our softest month since February and the third month in a row where sales dipped from the previous month. It also marked the first time since March that both units and volume declined year over year.

But there were bright spots as well. Both the Average and Median Sales Price rose compared to August 2025, showing continued strength in property values. And while the Average Days on Market reached 73 — the highest of the year — it wasn’t a dramatic jump. In fact, our yeartodate DOM sits at 66, outperforming last year’s 71 at this time.

Sellers appear to be aligning more closely with current market conditions, as price reductions have declined for three consecutive months. With homes averaging 93% of their original list price, sellers may be holding steady and negotiating price once an offer is on the table.

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Outer Bnaks MLS Fun Fact | August:

 29 of the 108 were cash transactions.
 On average, property sold for 93% of the original asking price (same as last month).
 15 sold for 100% or higher of the original asking price!
 231 properties were listed, which was the highest number since April.
 58 of the 231 August listings are already under contract as of 9/12.
 128 properties went under contract in August, similar to last month.
 167 price reductions compared to 206 the previous month.
 Just 3 homes sold above $2 Million.
 A 23-bedroom oceanfront home in Kill Devil Hills sold for $5.7 Million after being on the market for a cumulative 457 days and an original asking price of $7.1 Million!
 22 single-family homes sold for less than $500k, including 10 selling below $400k.

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• Seller's market: Less than 5 months of inventory. There are fewer homes available, which generally gives sellers more negotiating power.
• Balanced market: Approximately 5–6 months of inventory. Supply and demand are relatively equal, giving neither buyers nor sellers a major advantage.
• Buyer's market: More than 6 months of inventory. Buyers have more choices and typically greater negotiating power.