2011 was yet another difficult period for the Pinehurst-Southern Pines area real estate market. At McDevitt Sotheby’s, we had a fairly good year thanks to the hard work and long hours put in by our Staff and our Brokers; and we were able to sell a lot of homes. But we still have not seen the turnaround in the Moore County housing market that everyone is hoping for.
The following housing statistics for the Pinehurst-Southern Pines area MLS are included for your review and interpretation. This year we have included some in-depth statistics and other information that may be helpful in your own analysis of the local market conditions. Just click on the information that you would like to see.
NEW!! Q1 2012 Real Estate Market Report – Pinehurst & Southern Pines Market
NEW!! Specific Market Segment Stats – See Stats in Your Area
HOT!! 2011 Overall Market Sales Spreadsheet – all dwelling sales in Moore Co.
Days on Market – what does it mean??
The following charts provide a snapshot of 2011 real estate sales data in certain broad segments of the Moore County market. To view MLS stats for any of the following, just click on the category.
Single Family Home Sales
Golf Front Home Sales
Gated Community Sales
Horse Farm Sales
Condo/Townhome Sales
Single Family Home Sales
• Single Family Homes only, not including Condos, Farms, Land.
• Moore County Only
• Inventory at end of 2011 – 948 homes on the market (15 mo. supply)
• Lowest # of sales in last 7 years
• Avg & Median Price Slightly Higher than 2010 & 2011
• 2011 Avg Price was 5.4% below high avg in 2007
|
Sales |
Avg Price |
Median Price |
Days on Mkt |
2011 |
748 |
$261,586 |
$229,201 |
163 |
2010 |
812 |
$260,818 |
$226,500 |
171 |
2009 |
772 |
$259,613 |
$222,250 |
155 |
2008 |
814 |
$276,431 |
$235,000 |
141 |
2007 |
1,186 |
$276,620 |
$232,150 |
134 |
2006 |
1,305 |
$273,953 |
$230,000 |
126 |
2005 |
1,233 |
$254,473 |
$210,000 |
132 |
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Golf Front Homes
• Single Family Homes with Golf Course Frontage
• Routinely account for 10% - 15% of all home sales in each year
• 2011 Avg Price was 17.1% below high avg in 2009
|
Sales |
Avg Price |
Median Price |
Days on Mkt |
2011 |
81 |
$336,333 |
$265,000 |
174 |
2010 |
98 |
$391,499 |
$348,250 |
221 |
2009 |
80 |
$405,847 |
$352,500 |
126 |
2008 |
96 |
$396,167 |
$350,000 |
162 |
2007 |
166 |
$383,450 |
$350,000 |
139 |
2006 |
197 |
$388,493 |
$350,000 |
113 |
2005 |
159 |
$369,249 |
$330,000 |
135 |
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Gated Communities
• Single Family Homes in Gated Communities in Moore County
• Inventory at end of 2011 – 220 homes on the market (20 mo. supply)
• Lowest # of sales in last 7 years
• 2011 Avg Price was 17% below high avg in 2006
• Avg Price has declined every year since 2005
|
Sales |
Avg Price |
Median Price |
Days on Mkt |
2011 |
121 |
$311,151 |
$247,000 |
215 |
2010 |
136 |
$326,787 |
$255,000 |
216 |
2009 |
134 |
$348,120 |
$297,500 |
167 |
2008 |
144 |
$357,960 |
$322,000 |
155 |
2007 |
203 |
$373,088 |
$337,000 |
159 |
2006 |
196 |
$374,653 |
$336,500 |
140 |
**********************************************************
Horse Farm Sales
• More Sales in 2011 than expected
• 2011 Avg Price was 40% below high avg in 2008
• At end of 2011, 25 farms on the market for $1 Million or over
• Higher priced farms are simply not selling
|
Sales |
Avg Price |
Median Price |
Days on Mkt |
2011 |
22 |
$523,806 |
$450,000 |
190 |
2010 |
18 |
$643,583 |
$495,000 |
249 |
2009 |
12 |
$482,104 |
$371,875 |
228 |
2008 |
10 |
$871,312 |
$677,500 |
274 |
2007 |
25 |
$716,074 |
$565,000 |
256 |
2006 |
22 |
$702,177 |
$455,000 |
183 |
**********************************************************
Condos & Townhome Sales
• Lending rules have slowed sales of “resort condos”
• 2011 Avg Price was 25% below high avg in
|
Sales |
Avg Price |
Median Price |
Days on Mkt |
2011 |
129 |
$155,905 |
$144,000 |
196 |
2010 |
116 |
$172,647 |
$155,000 |
172 |
2009 |
113 |
$190,501 |
$169,500 |
190 |
2008 |
189 |
$210,187 |
$177,500 |
168 |
2007 |
244 |
$186,206 |
$172,500 |
125 |
2006 |
258 |
$170,534 |
$150,000 |
120 |
Pinehurst NC Foreclosure Report |
