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Hugh "Scooter" Willey

Nags Head Real Estate Analysis

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About Nags Head, North Carolina

Approximate Location Boundaries: Nags Head is perfectly positioned at the center of the Outer Banks. It neighbors Kill Devil Hills, home of the Wright Brothers National Memorial. It’s just five miles from Roanoke Island, home to charming Manteo and some of the top Outer Banks attractions. Nags Head is the gateway to the Cape Hatteras National Seashore, where undeveloped beaches and even more recreational opportunities await. It’s just eight miles from world-renowned Oregon Inlet Fishing Center and Oregon Inlet that leads to Hatteras Island.

Zip Code: 27959

Location Characteristics: The birth of vacationing on the Outer Banks started in Nags Head before the Civil War as wealthy farmers would bring their families here for the summer to escape the heat and enjoy the ocean breezes. For many years, the entire Outer Banks was referred to as Nags Head.  Since the area has grown, Nags Head often only refers to the specific town itself. To keep the old Nags Head building style alive and well, the town has adopted architectural standards. According to its mission statement, the town of Nags Head “takes pride in its clean water, low density of development and abundant open spaces.”

Nags Head is smaller than most of the other northern Outer Banks towns in square mileage but longer than the rest. Because it is a long thin strip of land, Nags Head real estate values have historically been higher than in other similar areas. Everywhere in Nags Head is close to the beach. Additionally, its central location and access to local shopping and restaurant allows Nags Head to draw vacationers for the longest season of any Outer Banks town. This can be a significant factor in vacation and investment home analysis. There are many beautiful communities to own real estate in Nags Head. From beautiful oceanfront homes to homes on a Nags Head Golf Links it is truly a place that offers much to Outer Banks homeowners.

Nags Head is home to two beautiful state parks in Jockeys Ridge and Nags Head Woods. Both Jockeys Ridge and Nags Head Woods are amazing examples of nature.  Jockeys Ridge is the largest sand dune on the East coast.  Nags Head Woods is unique in that it is bordered by Run Hill and Jockeys Ridge.  These two huge sand dunes provide natural protection for the trees and wildlife inside.  Being the home of two beautiful states parks allows for some amazing homes to border or have views overlooking these refuges. Just down the beach road (NC Hwy 12), is the newly and very impressively renovated Jeannette’s Fishing Pier. The new state-of-the-art, LEED certified, wind-powered, 1,000-foot concrete pier and 16,000 square-foot pier house is a one-of-a-kind educational ocean fishing pier.

Real Estate Market Snapshot: The Nags Head real estate market has been a buyer’s market for the past several years and has been very active. As prices stabilize, a dramatic shift appears to be in store for us. Currently, prices remain very reasonable. Since the sold prices for the Outer Banks real estate market has bottomed for many vacation rental properties, the return-on-investment ratios are the BEST that it’s going to get. Properties are selling and financing is available to qualified buyers. As demand continues to grow and should the inventory of real estate properties continue to shrink, real estate prices will rise. As prices begin to rise, the return-on-investment will be decrease.

If you have been thinking about purchasing an Outer Banks home, whether for retirement, for relocation, as income producing vacation investment property or as a vacation getaway, things won’t get much better. Now is the time to come in and talk with “Your Full-Time, Overtime, Anytime OBX Realtors”. We will provide you all the crucial information you need to make the best decision.  Please contact us to request our FREE monthly OBX real estate newsletter and our quarterly update with OBX Real Estate Market Statistics. We will keep you posted on the most current OBX real estate developments so you can have an edge on others when searching for Outer Banks real estate.

Imagine finding your perfect Nags Head home… Start searching now!

Posted on July 2, 2012 at 2:24 pm by Hugh "Scooter" Willey