Taking a Closer Look at the Real Estate Market on Oak Island, North Carolina for the first quarter of 2023.
Are you looking to buy or invest in real estate on Oak Island, North Carolina? This article will explore the current market conditions and give an overview of the first quarter of sales in 2023 compared to 2022.
Oak Island is located in southeastern North Carolina and is known for its beautiful beaches and stunning coastline. The real estate market in this region has remained strong.
The current price for a single family home in Oak Island ranges from $260,000-$2,300,000 depending on size and location. Prices have increased over time due to the high demand for this desirable coastal destination. In terms of rental properties, vacation homes can fetch anywhere between $1,800-$6,000 per week.
The different areas on the island offer a variety of landscapes and type of living. Oak Island has a wide range of houses giving many the opportunity to make a home on this coastal island!
The real estate market on Oak Island has consistently provided attractive returns for investors looking to build an income producing property or simply buy a new home by the beach. With its vibrant community atmosphere, proximity to local amenities and stunning scenery it remains an ideal destination for anyone wanting to take advantage of an excellent quality of life!
Now, let's take a look at some of the recent numbers: At then end of last month, there were 118 Active Listings, 89 Pending and 119 properties that closed in the first three months of 2023. Averages for the first three months: Days on market - 65 (THAT IS ONLY 2 MONTHS), List Price - $597,932, Sold Price - $581,736. Compared to last year the numbers have decreased, but not by much! Average for the first quarter in 2022: Days on market - 42, Listing Price - $607,765, Sold Price - $596,124.