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Market Monday: Ocean Isle Beach Edition - April 17, 2023

Ocean Isle Beach is a town located on the southern coast of North Carolina, in Brunswick County. Known for its pristine beaches, picturesque sunsets and relaxing atmosphere, Ocean Isle Beach is a popular destination for tourists and a desirable location for residents seeking a coastal lifestyle.

Staying up to date on the real estate market is essential for anyone who is buying, selling or investing in property. Real estate markets are dynamic and can be affected by a variety of factors, such as economic trends, interest rates, local regulations and consumer preferences. Being aware of the current market conditions and trends can help buyers and sellers make informed decisions about pricing, negotiation and timing. It can also help investors identify opportunities and potential risk. Staying up to date can mean the difference between a successful transaction and a missed opportunity or costly mistake. Keep up to date with my weekly and monthly market up dates!

In this Monday Market Update I focus on the first quarter of 2023 compared to 2022 on Ocean Isle Beach. I included both the island and mainland for this update to show the variety of homes available. Even being off the island allows for coastal living!

Ocean Isle Beach has experienced an increase in list price, sales price, days on market and price per square footage when we compare the first quarter of 2023 to the first quarter of 2022. There was a decrease in number of homes sold during this time from 128 to 74. This shows that we have low inventory, increasing the sales prices of properties.

The Averages for 2023:

- Listing Price: $630,000

-Sale Price: $611,000

-Price/sqft: $327

-Days on Market: 57

The Averages for 2022:

- Listing Price: $507,000

-Sale Price: $504,000

-Price/sqft: $274

-Days on Market: 26

Several factors are driving the real estate market in Ocean Isle Beach, NC including the town's growing popularity among tourist and new residents. The town has also seen an increase in economic growth and new job opportunities, which are further boosting the demand for real estate. Brunswick County as a whole is seeing an ongoing development and construction of new properties including residential homes, condos and commercial buildings. These factors have contributed to a strong market in Ocean Isle Beach, NC.

To keep up to date on the market subscribe to my blog or follow me @jordanontheislands.

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