Our trend of low inventory and high demand continues!
Sandbridge got hammered by a late season Nor’easter the second week of this month that stayed with us for more than 5 days. Everyone is in clean up mode to get ready for the season, which is here! I am seeing plenty of visitors arrive which is a sign the summer season has begun.
For the past 30 days we have had a few homes and condos come on the market, most did not last long and were quickly “under contract”. There are currently 3 homes and 4 condos for sale in Sandbridge. It’s too early to tell the impact of recent interest rate hikes upon demand. We need some additional properties to come on the market to get a good gauge.
Activity for past 30 days is as follows:
Single Family Homes – 3 Pending & 5 Sold
Condos – 2 Sold
Market Metrics – January 1, 2022 – May 18, 2022
Current rates courtesy of Liza Gibboney – Fairway Mortgage
NMLS# 243062 | Cell: 757-630-9604 | Office: 757-932-8497
Jumbo Non- Conforming Primary and Second Home 30 year fixed – 5.50
VA 30 Year Fixed – 4.875
Conventional 30 Year Fixed – 5.625
FHA 30 Year Fixed – 4.99
Regarding the current infrastructure projects that will have an impact on Sandbridge; we have developed a landing page with the most current updates on all of them. These projects are: Nimmo Parkway extension, Globalinx fiber optic cable landing, Avangrid-Kitty Hawk Wind Farm and our ongoing sand replenishment project. This page will be updated regularly so you can always check in and see the latest developments. We hope you find this helpful and encourage you, if you are a stakeholder in the community, to stay informed.
That’s it for now. See you on the beach!
Aloha,
Pat