Community Market Report – Old Town in Pinehurst

by pinehursthomes on October 23, 2017

In the Pinehurst real estate market we call the historic section of homes “Old Town”. This is the area in the center of the Pinehurst Village and the closely surrounding area.

Historic Village of PinehurstOld Town or the Historic section of the Village of Pinehurst saw a real jump in the market values of homes around 2004-2007 when the country was seeing the top of the real estate market. It is still considered a desirable place to live as it is in walking distance to the area shops and restaurants, not to mention the close proximity to the Pinehurst Country Club and Resort.

Currently there are about 3 years of inventory for homes available in Old Town. This could potentially be a great benefit for buyers as this would cause some downward price pressure on these homes. Here you can see all available homes in Old Town Pinehurst including some that are considered historic.

Some of these homes are on the famous Pinehurst No. 2 golf course. These homes are located on Palmetto or Midland Rd and some have stunning views of the golf course. Imagine living in one of these homes during the US Open which will return to Pinehurst in 2024.

In 2016:

  • 29 homes were sold in Old Town, 2 of which were golf front properties facing Pinehurst No. 2. Those two homes sold at an average of $1,237,500, or $215 per square foot.
  • The other 27 interior homes in Old Town sold at an average of $429,990 or an average of $165 per square foot.

So Far in 2017:

  • 26 Homes have been sold (all of them Interior Homes) in a price range of $130,000 to $975,000. That is an average of $155 per square foot.

There are many neighborhoods in Pinehurst surrounding the various course that belong to the Pinehurst Country Club. Some may not be in the historic section but you can still have a home  located on one of the 9 golf courses in Pinehurst.

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