It is so nice to have some good news for real estate home sales for the Pinehurst area of NC. Last year 2012 brought some good home sales numbers for Pinehurst and Moore County NC – especially in the number of homes that sold.
For the year ending 2012 the average price for homes sold in the Pinehurst/Moore County area was up just over 1% from 2011 at $248,500.
More importantly was that the number of homes sold in 2012 was up 12.8% from 2011 to almost 1,100 units sold.
And as you can see from the chart above that December 2012 total home sales for the Pinehurst area was up significantly over December 2011.
Just a note that June 2010 saw a big spike in sales – and that was due to the expiration of the government credit offered to first time home buyers and others who qualified. After that – the sales did dip again and 2012 saw the first real signs that the real estate market was improving.
Please note that each community in Pinehurst has to be analyzed as some homes are still declining in price and the higher end homes (those over $400K) are still not moving very quickly. Also, part of the slight increase in average home sales price was due to some higher end homes selling – though mostly at a significant discount to the values of these homes in 2007 when the Pinehurst area saw the real estate market peak.
Check back for posts on some of the market reports for individual communities in Pinehurst to get a better look at some neighborhoods are fairy in the current real estate market.