As a long term resident of the Outer Banks since 1981 (almost a local!), a 32 year real estate broker and 17 year Colington Island resident, I’ve had the good fortune of knowing the pros and cons of all of the communities from Corolla through South Nags Head. Here’s my thoughts on what makes Colington Island (there’s actually two!) unique and a great place to live and invest.
According to a recent article in Money Magazine (May 2015) for more than a decade the housing market has been in flux, in between that “just right” rate of growth that offers opportunities for both buyers and sellers, but by certain standards we may be getting closer. According to National Association of REALTORS® home prices nationwide are expected to rise 4.9% on average this year. At the same time inventory is expected to loosen up with 1.9M units on the market this year vs the market saturated 4M we saw in the late 2000’s.