Not since 2007 have we seen 2 consecutive months of Real Estate Sales in the Pinehurst area of NC exceed $30Mil!
In May of this year and important benchmark was reached which I believe ended the bottom of the real estate market here in the Pinehurst NC area. We touched $30,000,000 in home sales which hadn’t been seen since 2008 with the exception of June 2010 when the Government “stimulus” credit expired.
June and July of this year showed a real mark of improvement in real estate sales as we soured to almost $40,000,000 in gross homes sales. This was mostly due to a huge increase in the number of homes sold, and was not greatly impacted by rising home prices. And as inventories of available homes in Pinehurst area neighborhoods continue to decrease, we should see a rebound in home prices.
The market is definitely improving for sellers, but there are still a lot of options for buyers, and the interest rates are still low though we are starting to see rates increase which means that if you are thinking of buying, now is the time before prices and rates increase in the Pinehurst area real estate market.