Case Study: New Home Sold and New Homes for Sale in Corolla, NC

Corolla new homes sold and currently for sale 2016 to 2017

Overview of Corolla New Home Sold 2016 – 2017

Viewing recent sales of new homes in Corolla that have sold reveals some interesting facts. There were 14 new homes sold in 2016 and 2 in 2017. The average new home sold price over this period was $761,288 with a median sale price of $421,450. On average these homes were 5.5 bedrooms and 4.6 baths. The average cost per square foot was $231.43 with a median cost at $191. These homes spent an average of 115 days on the market before they were sold.

Villas at Corolla Bay – Sold Out

Digging a little deeper reveals a slightly different picture. 8 or half of the total sales were in the same community of the Villas at Corolla Bay. This gated ocean side new community in Corolla was a hit with buyers and just hit a sweet spot. Each villa was 4 bedrooms and 3.5 baths. The quaint community boasted an amenity area with a swimming pool, bath house, shuffleboard, basketball court, horseshoes and a picnic area for large gatherings. Each villa has its own courtyard, some with private pools and hot tubs. The villas are a short walk to the beach and popular as vacation rentals earning approximately $42,400 per season. The average cost of the villa was $412,950 with half selling for $399,900. The villas ranged from 2,231 square feet to 2,270 with a cost per square foot averaging to $181. Buyers certainly recognized what a value these villas are nestled in this charming community. On average the homes were on the market for 143 days.

Whalehead Sold

Whalehead is an older established community in Corolla with 3 main streets that run parallel to the oceanfront. The community has public beach access but no community amenities or association fees. This community is popular for vacation rentals and features generous lots with many homes having a private pool and hot tub with only a short walk to the beach access. Even today, there are lots available to develop your dream home at the beach.

At the other end of the spectrum compared to the Villas at Corolla Bay, there were 3 homes sold for well over $1m in the Whalehead community of Corolla. Two of these homes were located on the oceanfront street of Lighthouse Dr and sold for $2.3M. All 3 homes were almost 6k square feet had 11 bedrooms and 11 baths and a private pool. Cost per square foot ranged from $308 to $393. Only one home listed annual income at $252,230.

A summary of the Corolla New Homes Sold Statistics appears in the chart below:

Corolla New Homes sold 2016 to 2017

New Homes for Sale in Corolla

There are currently 17 new homes for sale or under construction in Corolla. 12 of these listing are on the westside contrasted with only 3 listings in the sold group located on the westside as discussed above.

The average price of all homes is $902,776 with the median value at $649,900. The average square footage of new homes is 3,051 with the median square footage at 2,625; the average cost per square foot is $269 with the median cost at $232 or approximately a 16% increase in cost compared to last year new homes sold. The average number of bedrooms has increased from 5.5 in the sold group last year to 5.7 this year, and bathrooms increased from 4.6 to 5.1.

Villages at Ocean Hill

There are 4 new homes for sale at the Villages at Ocean Hill. This well-established community at the northern most end of Corolla has loads of amenities for vacation rental guests and owners. There is a fitness center, swimming pools, basketball and sports playground, tennis courts, snack bar, and beach rentals. Not limited to the westside of the island, enjoy days at the beach with your very own private parking lot and 7 beach access walkways.

Learn why Villages at Ocean Hill is such a great value in our earlier post. These Villages at Ocean Hill new homes are 3 to 4 bedrooms with 1,514 to 2,409 square feet. Prices range from $349,800 to $455,000.

Monteray Shores

There are 3 new homes in the Monteray Shores community. This distinctive community provide a dash of color to Corolla with the French Caribbean design style and you can read more about it here and here. It has a well-managed HOA with plenty of amenities for vacation rental guests and owners to enjoy. Monteray Shores new homes available range from 2,087 square feet to 2,809 with two listings having 4 bedrooms and 1 with 7. Prices range from $399,900 to $795k.

Soundfront at Corolla Bay

A brand new community located on the Sound front in Corolla is the Soundfront at Corolla Bay. This exclusive and prestigious community will have only 76 large, private sound front and semi-sound front home sites where homeowners will be amazed at the breathtaking sunsets over the Currituck Sound.

The community features soundside piers, sidewalks, street lights and an Oceanside beach access with parking and a bath house. Click here to view a map and details on the community. There are currently 2 new 5 bedroom homes available at $649.9k and $799.9k.

Currituck Club

Probably best known to golfers, the Currituck Club is not only about golf. This community is all about outstanding amenities and providing an upscale experience to both owners and vacation rental guests. To find out more about each community within the Currituck Club, the amenities and cost, read this post and see how it compares to other communities in the area.

There are 2 new homes available in The Cottages portion of the Currituck Club and one in the main community. Prices range from $429k to $749.5k for 1,917 square foot to 3,310 square foot.

Ocean Side Corolla New Homes

There are 5 Oceanside new homes in Corolla in 3 different communities. One is in Pine Island and you can read more about this community here. Two are in Whalehead and two are in Ocean Sands. Prices range from $859 in Pine Island to $2.699k in Whaleshead. These homes have from 6 bedrooms to 12 bedrooms with just over 3,045 square feet to 6,000 square feet. Cost per square foot ranges from $282.10 to $449.83.

A summary of the Corolla New Homes for Sale Statistics appears in the chart below:

New homes for sale in Corolla, NC

Schedule an appointment today to view Corolla New Homes for sale. There are many homes and communities available and one may be the special one you have been searching for. Call 252-491-9999 today to view any available property. There is time to close and enjoy our wonderful fall season. These homes are perfect for a second home or vacation rental investment!

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