We saw some significant changes in the Pinehurst, Southern Pines real estate market in 2009. Most importantly, we saw 3 consecutive months of unit sales increase over the same period than 2008. Also, we saw 5 consecutive months of new listing reductions from the same period in 2008. This means we are seeing inventories declining, and the average price of residential properties has maintained relatively stable.
Another good sign is the increase in activity from retirees looking to move to the area. This had been a large part of our market until 2008, when we saw almost a complete absence of these home buyers. It is still hard to move homes over $400,000, but there are some good buys out there if someone is interested in the price point.
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