"I haven't seen anything like this in 31 years': OBX real estate booming, breaking records

Posted at 4:52 AM, Oct 06, 2020
and last updated 2020-10-06 23:18:53-04

OUTER BANKS, N.C., - With wide sandy beaches and pristine waters, the Outer Banks is a magical place.

"Ever since they opened the beach back in May, it's been crazy," said Jeff Scott, a Realtor in Southern Shores.

Scott owns the Scott Team Realty, and says for the past six months he hasn’t had much time off to enjoy his beautiful surroundings.

"People came out of the woodwork wanting a place at the beach - it's nuts," said Scott.

The real estate market is hot and it's part of a national trend, but Outer Banks realtors are breaking records as far back as 2005.

"We just got some info, and the graph shows two huge peaks: One now and one 15 years ago; it's just surging," he said.

Just in August alone, the Outer Banks Association of Realtors said there were 989 properties under contract with 397 sales.

"I have been tracking inventory since 2006. Back then, we had 4,600 listings; now I just checked today, and it's only 1,400," said Scott.

Scott attributes the boom to several things: All-time low interest rates, more people working from home and being able to do it in an idyllic setting, and a little bit of good press.

"That Netflix special highlighting the Outer Banks has really been at the top of people's minds," said Scott. "People want to spend time with family, and this is a family beach."