Hatteras's real estate market is experiencing a price correction, with values down 47.4% from last year. Home prices have decreased 32.2% in the past month. With 23 active listings, inventory is 77% higher than seasonal norms. Homes are now taking an average of 59 days to sell, significantly longer than the 38 days typical for this market. Only 4.3% of listings saw price reductions, suggesting sellers are confident in their pricing. Approximately 33.3% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Hatteras market with the affordability index at 3508.8. Current trends suggest further price adjustments may occur as the market continues to favor buyers.