Because buyers are increasingly coming into the real estate market – the homes sales continue to improve in the Pinehurst/Southern Pines area of Moore County NC.
As the chart above shows, there is a huge increase in the number of homes sold here in Moore County home of Pinehurst, one of the great golf meccas in the country. Each neighborhood needs to be looked at independently when deciding the best price for a home whether you are buying or selling. Many communities in the Pinehurst area are starting to see a slight improvement in pricing as inventory levels of homes available are beginning to decline.
What this chart shows me is that the real estate market conditions in the Moore County area of NC are beginning to look much more healthy as we were back in 2007 before we saw are market decline in 2008. The reverse of the 2008 conditions appears to be the case here in the Pinehurst area. In 2008 the number of homes sold each month was declining as prices continue to decrease until we saw the number of home sales crash in October of 2008. For the past year and a half we have seen the number of homes sales increase as the home prices continued to fall. The last few months have shown a dramatic increase in the number of homes sold with the prices starting to stabilize.
Overall, it is my opinion that this is the time to buy especially if you are an investor. Prices are still low enough that you could possibly benefit from owning rental property or a second home until you might consider retiring here in the Pinehurst area. But as inventories continue to decline in some neighborhoods, the pricing will start to increase improving the conditions for sellers in our real estate market. If you are looking to buy your first home, or move up to a larger home than this is a great time as interest rates still remain low giving buyers the opportunity to get a larger home and/or keep their payments low.