Real Estate in Outer Banks
Hugh "Scooter" Willey
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Manteo Real Estate Analysis


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About Manteo, North Carolina

Approximate Location Boundaries: The town of Manteo wraps around Shallowbag Bay on the eastern side of Roanoke Island. It is centrally located in the world-famous Outer Banks. Manteo is the county seat of Dare County. North of the town you will find the Lost Colony outdoor drama, Fort Raleigh National Monument and the Manteo Airport.

Zip Code: 27954

Location Characteristics: Many visitors/locals enjoy the charming downtown streets of Manteo, as well as the many reminders of the island’s unique history, including the representative 16th century ship Elizabeth II at Roanoke Island Festival Park, and the George Washington Creef Boathouse and Roanoke Marshes Lighthouse, part of the Roanoke Island Maritime Center. Each summer, Manteo welcomes singers, dancers and actors back to Waterside Theatre, where they perform the nation’s oldest outdoor symphonic drama, The Lost Colony.  In the arts, outdoor concerts are held on the grounds of Roanoke Island Festival Park. Concerts usually feature a wide variety of entertainment ranging from classical, country and western to Hard Rock. It’s not uncommon to see Manteo residents resting on blankets at these concerts on warm summer evenings drinking wine and eating fine cheeses as they enjoy the open air music.

The Roanoke Island real estate scene is a little different than Outer Banks real estate overall. Why? Because most people who buy real estate on Roanoke Island, particularly in its main town, Manteo, are moving here permanently, not looking for an investment property. Not that Roanoke Island rentals aren’t popular! Indeed, more and more visitors are discovering the charms of Manteo and its draw as a walkable vacation community that offers incredible amenities—tons of arts events, great shopping, heralded restaurants, fun attractions. 

Roanoke Island real estate offerings include older established homes with lovely lawns and historic backgrounds, newer homes in community developments, waterfront condos, some lots and commercial property. So, if you’re considering a real estate purchase, make sure you’ve considered Manteo and Roanoke Island…it’s an Outer Banks real estate jewel.

Real Estate Market Snapshot: The Manteo 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, now is the opportune time for buying. Come in and talk with “Your Full-time, Overtime, Anytime 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 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 Manteo home… Start searching now!

Posted on July 3, 2012 at 2:04 pm by Hugh "Scooter" Willey