Noel McDevitt

Homes for sale in the Pinehurst NC area MLS are still dropping in inventory. Now there are 1,069 single family homes for sale in the Pinehurst - Southern Pines area. Sales of more expensive homes are still very sluggish, but there has been more activity lately when it comes to houses priced over $500,000. We have seen price reductions of higher priced homes, plus banks have now begun to lower their interest rates on jumbo loans. In the last 30 days, there have been 10 sales over $450,000 in the local MLS. McDevitt Sotheby's has been the selling firm or the listing firm 3 of those 10 sales (both on one of them); and the buyers in each case got great deals. The average home/condo sale price in the local MLS in the last 30 days was about $255,000, which is down less than 5% from last year, so it is looking more and more like we will be able to avoid drastic drops in home values. It has been a tough year for real estate, but it does look like the worst is over!

About a month ago, the number of single family of homes for sale in Moore County (which includes homes in Pinehurst and Southern Pines) dropped below 1,100 and as of my last post on Sept 9 was down to 1,096 homes. As of today (Oct 15), the inventory is down to 1,074. Normal for this time of year is 900, so we are still up 15-20%. But that is not bad when you think about markets in some parts of the country being up 200%, 300% or even more. Higher priced homes are just not moving - in part because jumbo interest rates are still higher than conventional rates and in part because home buyers are more risk averse than they were 2 or 3 years ago. If you want to keep track of the inventory number, sign up on www.twitter.com and follow my daily inventory posts at http://twitter.com/pinehurstnc more info about Pinehurst homes for sale, visit us on the web at http://www.mcdevitttownandcountry.com

For Pinehurst real estate and Southern Pines NC real estate, it's been an interesting year. The inventory of single family homes in Moore County NC topped the 1,000 mark in January 2009 and the number continued to rise throughout the Spring and early Summer, reaching a peak of about 1,170 in mid-June. Since then, the inventory of homes for sale in the county has declined slowly but steadily. As of September 9, 2009, there are 1,098 single family homes for sale in Moore County. This includes ONLY single family homes, not condos, farms and land. Our normal average number is around 900; and for this time of year (end of Summer), we usually have about 800 homes on the market. The number of sales tapers off in the Fall and inventory usually rises slightly. It will be interesting to see what happens this Fall. The recession has made it very hard to make accurate predictions, but check back here for updates, or visit us on the web at http://www.mcdevitttownandcountry.com

If you own or rent a home in Moore County, NC, you may be interested in info about recycling. Recycling doesn't have to mean saving the planet single-handedly, but it can mean making your home safer by safely getting rid of dangerous or unwanted materials around the house, in the attic or the garage. Pinehurst and Southern Pines offer some reclycling pickup for homeowners in their city limits, but there are many materials that they will not accept when they come to your home. However, Moore County maintains a number of recylcing centers around the county. Different locations accept different materials. To get more info and to see a chart showing where you can dispose of certain household items, hours of operation and telephone numbers, visit: http://www.mcdevitttownandcountry.com/info/recycling-centers-moore.html

At McDevitt Sotheby's International Realty, we are committed to providing our past, current and future clients with information that goes far beyond real estate in Pinehurst and Southern Pines. Please visit us on the web at: http://www.mcdevitttownandcountry.com or call us toll free at 888-410-4110.

The US Golf Association recently announced that the Women's US Open will be held at Pinehurst in 2014 on the Pinehurst No. 2 Golf Course. The tournaments will be held back to back in June 2014. This is great news for Pinehurst, Southern Pines and the entire area, which is a great place to live. These events will continue to put the Sandhills areas of NC on the map as a premier relocation destination. The quality of life in Pinehurst is wonderful because of the great weather, restaurants, shopping, a major regional medical center, and above all the people from all over the US who have chosen to move to Pinehurst or Southern Pines. Real Estate values are incredible, and are complemented by the quality of life, low taxes and year round golf, tennis, cultural activities and more. Pinehurst and its sister town of Southern Pines are located about an hour from Raleigh, Chapel Hill and Durham, NC - close enough to get to a big city when the need arises, yet far enough away to escape the urban sprawl. For more info, visit us at http://www.mcdevitttownandcountry or give us a call at 800-788-8814.