Each month I run the real estate sales for the Pinehurst area and all of Moore County to get the market statistics and compare those numbers to previous months and years.
One thing this chart chart shows is the dramatic decline in gross sales from our peak years of 2006-2007. As you can see the peak was in July of 2007 and the low was in January of 2009. Another interesting factor is that the volatility of sales from month to month has become less severe in recent years than when the market was at it’s peak. This can be seen by comparing the low month of each year to the high month of each year and difference is definitely not as dramatic in 2011 as it was in 2006-2007.
Even though the volatility is less from month to month we are still seeing the market sales decline. Even though it is not significant – the total sales through September 2011 is down from the same period in 2010 by about 1%. Also, the average price and the unit sales are both down from 2010 though those numbers are not signifacant.
From an optimistic stand point, the fact that the markets are not clearly declining, but remaining steady at lower levels than our peak years may be an encouraging sign. As long as the unit sales and average price don’t decline sharply, and we can work out the high inventory of homes we have in the Pinehurst area real estate market, we can hopefully look for improving conditions in the future.