The information provided below is for prospective home purchasers in the Moore County, NC market, or current owners curious about Moore County NC home values. Well, the calendar year has ended and because of such we will focus on '08 vs. '07 numbers. Not surprisingly, total sales volume was down 25% county-side for single family homes and 24% for condos. Prices (average price sold) for single family homes, though down significantly when looking at monthly comparisons (-15%), ended up declining about 4% versus total 2007 figures. Please bear in mind that condo prices have been affected by the increase in higher end condos being sold, primarily in the Pinehurst market. All in all, the Moore County market seems to be doing well with respect to market values. We will see what 2009 brings!
Dec ‘08 Dec '07 2008 2007
Moore County Single Family
# Units Sold 46 78 915 1,224
Average Price $243,503 $286,739 $263,645 $274,191
Avg. Days on Market 117 129 138 133
Moore County Condos
# Units Sold 9 23 187 245
Average Price $242,987 $222,569 $208,632 $181,937
Avg. Days on Market 98 124 164 125
Information provided by Broker/REALTOR® Todd Kenthack, owner of The Pines Realty at (910) 603-9050 or by email at Todd@GolfHomesInPinehurst.com. Check out all homes for sale listed in the local MLS by going to: MoveToMooreCounty.com.
Source: Pinehurst-Southern Pines MLS as of 1/5/09; data includes all properties listed in Pinehurst-Southern Pines MLS including some located outside of Moore County.
So, what is happening with home prices in the popular golf town of Pinehurst, North Carolina? The numbers below give you monthly comparisons for single family and condos inside Pinehurst for December '07 and '08, as well as annual comparisons.
Since we have complete calendar year data, let's focus on the annual figures. Single Family sales volume for 2008 in Pinehurst was down 36% from 2007. However, the average sold price is up just a bit for 2008 at about 1.2%. This data suggests that the Pinehurst market has fared very well vs. many other regions throughout the country. Yes, we have slowed, but so far it has not had a negative impact on prices. For condos, the data you see has been influenced by the increase in higher end new condos and town homes sold in the Pinehurst market in communities such as Cotswold, Lamplighter Village and the Villas at Forest Hills.
Dec ‘08 Dec '07 2008 2007
Pinehurst Single Family
# Units Sold 17 30 242 380
Average Price $285,058 $290,996 $318,364 $314,428
Avg. Days on Market 102 150 135 132
Pinehurst Condos
# Units Sold 4 13 85 122
Average Price $182,000 $249,676 $213,678 $180,431
Avg. Days on Market 127 121 219 120
Information provided by Broker/REALTOR® Todd Kenthack, owner of The Pines Realty. Contact Todd at (910) 603-9050 or by email at Todd@GolfHomesInPinehurst.com . Click Here to search for all types of properties in the Pinehurst, North Carolina market.
Source: Pinehurst-Southern Pines MLS as of 1/5/09.
It appears Stover Homes is back building homes in Mid South Club. They are marketing their "Jasmine" 3 bedroom, 3 bath single level patio home on 25 home sites inside Mid South Club. The homes will be built along the front right side (after entering main gate) of the Mid South community; most along Deacon Palmer Place, with several off of three Court's: Bay Hill, Latrobe and Laurel Valley.
The MLS listing square footage lists between 2,200 and 2,399 square feet. Prices range between $299,000 and $339,000, and the homes come with a transferrable Mid Tal membership. The current transfer fee is $12,500.
Click Here to take a look at the listing details.
If you are seeking a Buyer's Agent to assist you in your search for real estate in the Pinehurst-Southern Pines area, contact Broker/Owner Todd Kenthack of The Pines Realty at (910) 603-9050, or by email at Todd@GolfHomesInPinehurst.com.
If you are Military relocating to Fort Bragg or Pope AFB and you're seeking a single family home inside Moore County, you should check out real estate options in Southern Pines, North Carolina.
Southern Pines, with a population of almost 13,000, is located in the southeaster part of Moore County. Using the popular shortcuts that originate on Connecticut and Youngs Road in Southern Pines, it is a fairly easy and quick commute to the base.
As of the writing of this blog, there are 155 single family homes listed for sale in Southern Pines; ranging in price from $54,900 all the way up to $2,300,000. The average list price is currently $497,159. This average is a bit higher because of some more upscale gated golf communiites and horse country properties. So don't be scared away, thinking there are no affordable homes available in the market. As for condos/town homes, there are currently 60 listed for sale, ranging in price from $72,000 to $499,000 with an average price of $242,323.
Some listings in the Southern Pines are outside of subdivisions, and a good number are outside the city limits as well. Some of the popular areas and subdivisions in the Southern Pines area include: Downtown, Elk Ridge, Forest Creek, Garden Villa, Golfcrest, Highland Trails, Holiday Town, Hyland Hills, James Creek, Kenwood, Knollwood Village, Longleaf, Madison Creek, magnolia Courtyards, Mid South Club, Middleton Place, National, Pine Needles, Pinefield, Pinnacle Place, Rountree, Sandavis, Sandhurst South, Sandhurst West, Sandhurst, Skyline manor, SPCC, Talamore, Village by the Lake, Village Green, Weymouth, Weymouth Heights, Weymouth Pines, Weymouth Ridge and Yadkin Trail.
Click Here to find detailed information and pics on all listings in Southern Pines NC or anywhere in the Moore County area. This best in market search tool is completely free, updated daily and does not require you to register with personal information.
Contact Todd Kenthack, Broker/Owner of The Pines Realty for assistance researching homes for sale in Southern Pines NC or any part of Moore County. Todd can also assist you in the Fort Bragg-Fayetteville Area real estate market. He can be reached at (910) 603-9050.
If you are active duty, you will want to learn more about The Pines Realty's Military Appreciation Pricing!
Above data obtained from Pinehust-Southern Pines Area Association of REALTORS® MLS on 12/23/08.
Below you will find some sales statistics for Moore County NC with breakdowns for single family homes and condos, as well as period comparisons for the month of November and YTD for 2007 and 2008. YTD sales volume is not surprisingly down: about 24% for single family units and 20% YTD for condos. Monthly volume fell 37% from October for single family units. Average sales prices "November to November" show almost a 15% decline suggesting sales in the mid range (170 to 250k) have not been affected as negatively as higher priced homes. Single family unit prices show a 3% YTD comparison decline. This very likely has been partly influenced by many high DOM (Days on Market) sellers beginning to accept lower offers relative to asking price. Again, the increase in condo prices reflect more sales of new luxury condos in the Moore County market.
Nov ‘08 Nov '07 YTD '08 Same ‘07
Moore County Single Family
# Units Sold 45 87 867 1,146
Average Price $249,643 $294,286 $264,945 $273,337
Avg. Days on Market 138 148 139 134
Moore County Condos
# Units Sold 13 15 178 222
Average Price $243,697 $219,276 $206,895 $177,728
Avg. Days on Market 187 134 168 125
Information provided by Broker/REALTOR® Todd Kenthack, owner of The Pines Realty at (910) 603-9050 or by email at Todd@GolfHomesInPinehurst.com.
Source: Pinehurst-Southern Pines MLS as of 12/10/08; data includes all properties listed in Pinehurst-Southern Pines MLS including some located outside of Moore County.
Broker/Owner/REALTOR® of Independent Firm handling all types of residential transactions in Moore County. Military Appreciation Pricing for active duty clients.
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