Real estate sales for Pinehurst NC area for March 2011 were flat compared to the same time last year though there was a significant increase from February this year.
The number of homes sold in March of this year were slightly below the same period in 2010 – however the average price was up slightly giving an almost flat differentiation year over year. The average price of homes was up slightly due to an increase in the number of higher end homes selling. This is a good sign as the higher end homes in the Pinehurst area have not been selling for quite some time.
Inventory levels are still high which could mean we still have some downward pressure in pricing until we can sell and reduce the number of available properties. The good sign is that we are not seeing a high level of foreclosures and short sales.
This makes the real estate market in the Pinehurst NC area attractive for buyers because in addition to the many homes available – interest rates are still low.