What will happen to prices this November/December when the new bridge is completed over the Oregon Inlet?
The new bridge over the Oregon Inlet is officially connected from both the north and south, so does this mean that housing prices will increase with its completion in late November/early December? The short answer is that I am optimistic.
If there is to be an increase, I believe that it would be happening already. Investors would be here shopping more vigorously. For this reason, I am going to stick with my original numbers and say that we are on par with 2017.
While I hope that this changes and that we see an increase in appreciation on the southern beaches, specifically Hatteras Island, I don't believe that the bridge will give us a 3% to 5% increase. Since we have had a bridge to this location for a long time, it's not like it is a new location or frontier for people to come to. Instead, it’s just allowing longevity, which is a good commitment from the state and the Department of Transportation.
If there is to be an increase, I believe that it would be happening already.
So, if you are thinking about selling or buying, I think we're going to stay steady. And, hopefully we will see some good numbers.
If you have any questions about this or you’re interested in buying one of our many great waterfront homes currently listed in Brigands Bay in Frisco, please feel free to contact me. I look forward to speaking with you soon.
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