Real Estate in Outer Banks
Hugh "Scooter" Willey

Corolla Real Estate Analysis

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About Corolla, North Carolina

Approximate Location Boundaries: Corolla is situated north of Duck Township, all the way until the paved road (NC Hwy 12) dead ends onto the beach which is just south of the Village of Carova.

Zip Code: 27927

Location Characteristics: Corolla is an unincorporated community located in Poplar Branch township, Currituck County, North Carolina along the northern Outer Banks. Corolla is definitely one of the Outer Bank’s finest resort areas. It has some beautiful communities that offer world class amenities.  Some of Corolla’s communities include: Villages at Ocean Hill, Corolla Light, Monteray Shores, Whalehead, Buck Island, Ocean Sands, Pine Island, Corolla Village, and The Currituck Club.  

Corolla currently has a very small, but growing year round population.  The majority of the homes are used for vacation and investment purposes. During the summer vacation season, the population surges into the thousands.

Corolla is home to the red brick Currituck Beach Lighthouse and to the feral Banker horses. The Banker horses are located on a 12,000-acre animal sanctuary which can be found north of the populated areas of Corolla. The Corolla Wild Horse Fund is a public charity whose mission is to protect and preserve the herd. Also located, in Corolla is the Whalehead Club. Millionaire industrialists built the Whalehead Club in the 1920’s as a base for waterfowl hunting expeditions to the Outer Banks. The spectacular Currituck Club is a must play golf course located on the Northern Outer Banks in Corolla.

Real Estate Market Snapshot: The Corolla 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 Corolla home… Start searching now!

Posted on February 21, 2013 at 3:18 pm by Hugh "Scooter" Willey