R E A L E STAT E
beach briefs What’s happening in your town? Here’s a report from all over the Outer Banks. . Real Estate Through the Roof
Numbers on the Rise
One unanticipated outcome of the Covid-19 impacts on the Outer Banks has been the stunning spike in demand for real estate. The boom is consistent with a national trend of people seeking a haven from the virus, whether temporarily or year-round, that is perceived as safe and less crowded.
During a time when getting outdoors has become an increased priority, visitation at the Cape Hatteras National Seashore has been record breaking. In July alone, there were 451,849 recreational visits, according to the National Park Service – an increase of three percent over last year, and the highest number since July 2003. In addition to this, camping was so popular that park service campgrounds at Ocracoke and Oregon Inlet plan to remain open through the winter season.
According to the August 2020 MLS Statistical Report from the Outer Banks Association of Realtors, sales records were broken this summer, and inventory was “shockingly low.” Residential sales were up 23 percent over the previous year, inventory was down 52 percent and properties under contract were up 127 percent in August, according to the report. “We haven’t seen this level of activity since the MLS started tracking this data in 2005,” the report stated. In other eye-popping numbers, the median sale price for residential homes shot up 32 percent over August 2019, and the number of land/lot sales jumped from 39 last year to 76 this August, a 95 percent increase. Year-to-date, the number of building permits increased from 112 last August, to 145 in August 2020. Planning for 2021 Even as Governor Cooper loosened state safety restrictions in October, including social distancing restraints, mask-wearing requirements and occupation limits indoors, a return to business-as-usual is still in the works. A number of local fall events have been postponed until 2021, and others may also be canceled at the last moment, so checking directly with event organizers ahead of time is recommended. September through November 2020: The 2020 Duck Jazz Festival, the Day at the Docks in Hatteras Village, the OBX Jeep Jam, the Outer Banks Seafood Festival, OBX Brewtag, the Mustang Rock & Roast music festival, the Wings Over Water festival, Blackbeard’s Pirate Jamboree, Festival Latino de Ocracoke and the Outer Banks Food Truck Showdown were canceled as of press time. Forthcoming details about the return of these events in 2021 can be found on their respective websites. 32 | FA L L/H O L I DAY 2020
Occupancy taxes were also up 37 percent in July, according to the Outer Banks Visitors’ Bureau. Meal taxes were down 21 percent with restaurants limited to take-out or curb-side pickup and limited indoor occupancy, but losses were not as severe as people had initially anticipated – and when new numbers are released, they’re expected to be impressive. With many people still working and going to school virtually, most businesses on the Outer Banks are anticipating plenty of visitors throughout November and maybe even well into December. Saving the High Seas The White House announced in September that the North Carolina coast would be included in a 10-year moratorium on offshore oil drilling and exploration, and later agreed to add seismic testing to that moratorium. Seismic testing, which can be harmful to marine life, especially whales, is done prior to oil projects in order to determine the location and extent of fossil fuel deposits in the ocean. The president had earlier put the moratorium on the Atlantic Coast from South Carolina to Florida, before consenting to add the Virginia and North Carolina coasts. Looking Forward to the Future Demolition of the old College of The Albemarle building on Roanoke Island – which was also once the old Manteo High School and Manteo Middle School building – began this past September. The modern updated building is expected to be completed by February 2022 as a two-story facility that will offer programs in a number of fields, including the sciences, public safety, hospitality, mechanics and early childhood education, among others.
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Our Virtual World In the wake of a slew of cancellations of numerous beloved 2020 spring and summer events, including The Lost Colony play, the Mustang Spring Jam and the Outer Banks Bluegrass Festival, local event planners have also had to adjust their schedules for the fall and beyond. In response, a number of events were moved online to be enjoyed virtually. Theatre of Dare plans to launch its 30th season with a livestream reading done by local actors of Mercury Radio Theatre’s Dracula for three performances from October 29-31, plus a reinterpretation of the classic tale called Draculescu on Halloween night. A Christmas variety show is also planned for the holiday season, with more details to come on their Facebook page. The 37th Nags Head Woods 5K will be a virtual race, with runners invited to participate through December 31, 2020. The race is usually held on Mother’s Day weekend, but organizers with the North Banks Rotary Club opted for an online event that allows racers to run the 5K from their location anywhere in the world – including the actual course in Nags Head Woods – and post their time on the race results page at nagsheadwood5krun.org. Proceeds from the race will benefit the Interfaith Community Outreach, a local charitable nonprofit organization. Organizers with the Outer Banks Sporting Events have decided to hold the annual Outer Banks Marathon weekend in November virtually. The Veteran’s Day weekend events include the marathon, a 5 and 8K, the Southern Fried Half Marathon, and the Southern Six and Fun Run. Updates and details on all the weekend races will be provided online at obxse.com.
