What’s Happening on the Barrier Islands?
Hey neighbors! If you’ve been wondering what’s happening in real estate here on the Barrier Islands, I’ve got the scoop. Whether you’re a curious homeowner keeping an eye on property values, or maybe you’ve been thinking about selling, the latest numbers are in—and they’re telling an interesting story.
What About Homes That Didn’t Sell?
Not every home is flying off the market. Starting in May 2024, the number of homeowners pulling their properties from the market has increased 87.5% compared to the same time last year. That’s a big shift!
What’s even more interesting is that 63% of the homes that went off the market in May are still off-market today. We live in a unique resort area, which means many of these properties are second homes or vacation rentals, so owners might feel like they can wait things out. Just because they haven’t sold doesn’t mean they don’t want to sell.
Could We See a Wave of New Listings Soon?
Here’s where things get interesting. There are currently 721 properties actively for sale on the Barrier Islands, but with over 1,600 homes recently pulled off the market and not re-listed, we could see a flood of listings at any moment.
I took a closer look, and 37% of the 2,563 homes taken off the market over the past few months have already come back online—usually at a reduced price. And get this: 57% of those are now either sold or under contract.
So, if you’ve been thinking about selling your beach property, this is definitely something to keep an eye on. There are still plenty of buyers out there, and with fewer homes now actively for sale, this could be the perfect time to test the waters before any market shifts.
As always, if you want to talk more about what’s happening on our beautiful Barrier Islands or you’re curious about the value of your property, feel free to reach out. We're here to help!
