Todd Kenthack, MBA, GRI

As mentioned in previous blogs, the Moore County (and especially Pinehurst) real estate market is faring very well of late when it comes to price stability. Several buyer prospects I have worked with recently have asked me about condo and town home price trends relative to single family homes.

The answer.....average prices for condos and town homes have been up for '08 vs. '07 in every month I've done the YTD comparisons. For instance, as of my latest calculation for the end of October, prices are up about 25% over YTD '07. So, why is this occuring? The answer is this market has seen a quick increase in luxury condos/town homes coming on the market for the past couple of years. Communities such as Lamplighter Village, the Villas at Forest Hills and Cotwold are a few good examples. In years prior the majority of condo sales were comprised of the older and smaller Pinehurst condos built in the 70's.

Prices for these "higher end" units range from the high 200's to the low 400's. Many also have transferrable Pinehurst or other club memberships. Check it out yourself....Click Here to customize your own search.

For assistance with any real estate in Pinehurst or anywhere in Moore County, contact Broker/Owner Todd Kenthack of The Pines Realty at (910) 603-9050, or by email at Todd@ThePinesRealty.com.

Single Family sales volume continues to be lower vs. 2007 for both monthy and year to date figures, -56% and -33% respectively. YTD figures show an average price sale increase for single family units in Pinehurst of about 2.5%. Condo average sale prices continue to be higher due to the increased sales of new higher end units versus '07. Though the volume decline is significant, prices in the Pinehurst market remain strong.

Oct ‘08 Oct '07 YTD '08 Same ‘07

Pinehurst Single Family

# Units Sold 15 34 215 321

Average Price $286,233 $276,617 $322,159 $314,437

Avg. Days on Market 146 128 139 129

Pinehurst Condos

# Units Sold 5 7 73 102

Average Price $168,750 $180,892 $212,790 $169,360

Avg. Days on Market 97 68 220 120

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 .

Source: Pinehurst-Southern Pines MLS as of 11/24/08.

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 October and YTD for 2007 and 2008. Yes, YTD sales volume is certainly down: about 22% YTD for single family units and 20% YTD for condos. However there are some positive signs. For example, this past July that YTD figure for single family homes was 28%, and when looking at October single family volume we are only 16% down from last year. Average sales prices "October to October" show almost a 10% decline, much greater than the 2% YTD. That very likely has been 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.

Oct ‘08 Oct '07 YTD '08 Same ‘07

Moore County Single Family

# Units Sold 71 85 821 1,059

Average Price $243,627 $269,390 $265,845 $271,616

Avg. Days on Market 137 132 139 132

Moore County Condos

# Units Sold 11 17 165 207

Average Price $188,765 $184,950 $203,996 $174,717

Avg. Days on Market 142 86 166 124

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 11/24/08; data includes all properties listed in Pinehurst-Southern Pines MLS including some located outside of Moore County.

One of the most popular neighborhoods in Pinehurst is Pinehurst No. 6. Conveniently located off of Highway 15/501, just north of the Pinehurst traffic circle, the community is comprised of golf front (the well regarded Pinehurst No. 6 course) and interior homes, as well as town homes (Juniper Creek) and luxury town homes (Lamplighter Village). The link below will provide you more information about this popular Pinehurst subdivision. From it, you can access the total inventory of homes in No. 6, and also take a look at my "Pinehurst No. 6 Market Pulse." The market pulse contains information on recent listings, sales and homes that have just gone under contract.

More about Pinehurst No. 6

Beyond No. 6, there are many popular gated and non-gated subdivisions to consider in the Pinehurst real estate market. Go to www.GolfHomesInPinehurst.com to learn about real estate options in and around Pinehurst, NC.

For assistance searching your options, feel free to contact Todd Kenthack, Broker/Owner of The Pines Realty in Pinehurst, NC. Contact Todd anytime at (910) 603-9050, or by email at Todd@GolfHomesInPinehurst.com.

Whether you're looking to renovate or you want to find a home that has already been updated, you will find many options in Old Town Pinehurst. The current inventory in Old Town Pinehurst consists of 44 homes, ranging in price from $325,000 to just under $3 million. The oldest was built in 1895 and the newest this year. Some of the current Old Town Pinehurst properties listed have Pinehurst CC transferrable memberships, and some do not. The link below will give you a current look at the total inventory. From there you can customize your own search to narrow down the results based on your preferences.

Old Town Pinehurst Single Family Homes

To learn more about real estate options in Old Town Pinehurst or anywhere in the Moore County NC market, contact Todd Kenthack, Broker/Owner of The Pines Realty in Pinehurst. Contact Todd at (910) 603-9050, or by email at Todd@GolfHomesInPinehurst.com.