Corolla Real Estate
Imagine buying your dream home here in the Outer Banks, with golden, sandy beaches, blue sky and ocean as your view. Outer Banks Property Group has helped thousands of home buyers find their dream home in Corolla, one of the most sought-after locations on OBX.
We have a team of highly experienced and professional realtors and support staff ready to serve you in your search for a suitable property.
Our realtors live, work, and play on the Outer Banks, and no other real estate firm has the local knowledge of the housing market. More importantly for home buyers, we have the personal and professional connections required to find a home for sale in the Corolla market, especially when many homes for sale are offered privately. We will guide you through the maze of the home buying process, from researching and finding a suitable list of Corolla homes for sale, negotiating a great deal, and through to final purchase.
Use our free MLS search tool to gain access to Corolla NC homes for sale.
Corolla Real Estate Summary
The market is split into three main groupings: ocean front, sound front, and inland.
Many homes are purchased for a mix of rental investment and personal occupancy, with ocean front homes commanding a premium in both house price and rental income.
There are many subtle differences when it comes to purchasing ocean front compared to sound front (sound front property looks out onto the intracostal waterway running between the Outer Banks and the mainland.)
For homes which are unused for part of the year, there is a highly active vacation rental market, with Corolla being one of the most sought after locations for vacation rentals.
Sellers tend to discount the price of their homes in the fall season, as they have received the investment income for the year, and this time of the year tends to be a buyer’s market. At the start of spring, many of the homes for sale come onto the market with a major incentive for buyer’s being that they can benefit from the rental income over the vacation season, though low inventory levels tend to make this a seller’s market.
Corolla homes for sale are frequently not offered openly, with many private transactions being brokered by connected realtors. It is therefore essential that buyers ensure they choose a realtor with the experience, reputation, and connections with home owners in the area.
Corolla real estate inventory is typically low, with less than 200 residential units sold each year. This low-level of homes available in such a desirable location, combined with historically low interest rates, ensures that property values are maintained and supported.
Corolla Local Information
Corolla has a great deal to offer, beyond the natural beauty of beaches and sun.
Corolla is home to the Outer Banks Wildlife Education Center, which is to be found within Currituck Heritage Park, and provides great boardwalk pathways through the wetlands area. The wetlands are also home to more than 80 species of birds and is an eBird hotspot.
If you enjoy parks and natural wildlife preservation, you will find within a mile due north of the town the Currituck Banks North Carolina Estuarine Research Reserve, with a variety of wildlife habitats which can be enjoyed by boat and on foot.
Other major attractions include the Currituck Beach Lighthouse, Center for Wildlife Education, and the historic Whalehead Club and Currituck Shooting Club (both of which are listed on the National Register of Historic Places). However, for horse and animal lovers, there is also the 12,000 acre animal sanctuary which is home to over 100 wild horses supported by the Corolla Wild Horse Fund.
In the off-season, Corolla is home to around 500 people, which means you will enjoy a great deal of privacy, peace and quiet.
Corolla is pronounced “Ka-Rall-A”, which is how those of us who are local pronounce the name, but many visitors still confuse our beautiful town with a popular Japanese car and say the town’s name as it is spelled, “Cor-roll-a”. Make sure you use the right pronunciation to blend in with the locals!