October 2014 real estate sales in the Pinehurst area of North Carolina had almost a 30% increase over the same month in 2013.
In addition to the October real estate sales in 2014 being a huge improvement over 2013, it was above October 2007 residential homes sales. 2007 was when we saw the peak for real estate sales in this area of North Carolina. Clearly the real estate market is on the rise with prices just starting to marginally improve in the Pinehurst NC area. Every neighborhood still has a micro market, but as a whole, we are seeing reduced homes on the market at least in the price ranges below $400,000. These lower inventories of homes for sale in Pinehurst and an increased demand in real estate is beginning to have an effect on prices.
Mortgage rates are still at very low levels, so if you have been considering the purchase of a home in the Pinehurst area, now might be the best time before we start to see prices rise more with even fewer homes available for sale.
And if you are thinking of selling your home in Pinehurst or the surrounding area of Moore County, please call me at 910-783-7993 or one of our agents at 910-235-8700 for our analysis of what your current home value is and how long you can expect for it to sell. Remember, all neighborhoods are different, so asking a qualified and experienced agent about your home value is the best way to determine if now is the right time to sell your home.