Good news for the OBX Vacation Rental Home Market

Highest growth markets include Maryland's Eastern Shore, North Carolina's Outer Banks, Maine, Las Vegas and Washington State.  These markets all are predicting greater than 20% growth in 2011.
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February 08 2011 - Nags Head
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What are you basing this information on? Where are the stats?
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February 11 2011
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They come from a self promoting vacation home rental LLC here based on their owner "panels" "feeling" about the market. Not what I call an independent source or method. It's promotion, not news.
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February 11 2011
According to the Outer Banks, NC Chamber of Commerce:

The Outer Banks was not immune to the 2008-2009 recession, but visitors continued to come to the area to enjoy its amenities. For example, a look at a major occupancy measure in Dare County (the Outer Bank jurisdiction that currently shoulders the bulk of the tourism hotels and restaurants) showed essentially flat visitation activity from the summer of 2008 to the beginning of 2010. However, the results showed that the year-to-year activity increased in the summer of 2010. Retail sales estimates support this upturn. So, while businesses in the area suffered like many in the rest of the nation, the regional downturn was not as severe. Tourists continued to come.

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March 08 2011
So where do you get the stat 20% growth. They are predicting strong growth here in the Raleigh /Cary market too, with strong being a conservative 2.5-3% growth. 20% is a lot!
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March 08 2011
Yes, it been a tough real estate market...home values have soften...but, the GOOD NEWS is that we (Outer Banks area) experienced a 21% increase in sales volume in 2010 over 2009 according to Outer Banks Association of Realtor MLS statistical data.  

With visitor spending in North Carolina rising over 9%, the Outer Banks Chamber and Visitors Bureau reported a record number of tourists visiting the Outer Banks in 2010. Retail sales receipts were up 15% in Dare and 83% in Corolla over 2009.  Food & Beverage sales were up 1.5%. 

 
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April 06 2011

There was a typo in previous post.   Should be "8.3% in Corolla over 2009".

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April 06 2011
Well we are happy for you....but you know you are not supposed to 'self promote' here , right?
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April 08 2011
Good to hear! We have family who own a vacation property there! I would be curious to see some stats for Avon, so I can pass the info along to them!
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April 08 2011
The Outer Banks is a great place to vacation.  I went there last year and was in a rental for a week.  I think the cost to rent was around $10K.  For investors, this is some great information.
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April 14 2011
 
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