Island Real Estate: Hatteras Island home sales and trends for December 2022

Three Keys from the November 2022 OBAR Statistical Report… Last month the Outer Banks hit a new high for median sales price of $600k, and Hatteras Island specifically was $621,250. In the November report, the overall Outer Banks median sales price dropped to $519,654, yet the Hatteras Island figure stands at $618k.  So Hatteras Island […]

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Island Real Estate: New mortgage limits announced for 2023

Homebuyers are getting some relief in 2023, thanks to the Federal Housing Finance Agency (FHFA) raising the conforming loan limits substantially. Commonly referred to as “conventional” loans, these are mortgages that are backed by one of two government agencies, (Fannie Mae and Freddie Mac), and this typically allows for a smoother loan process and lower […]

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