Sales volume continues to be lower vs. 2007 for both monthy and year to date figures. YTD figures show just a slight average price sole decline for single family units in Pinehurst. Condo average sale prices continue to be higher due to the increased sales of new higher end units versus '07. Of course sales volume (# of units sold) continues to be lower than '07; about 33% lower year to date for single family units and 27% lower for condos.
Despite the volume declines, prices seem to be holding their own. Pinehurst continues to reap the benefits of a fairly steady flow of retirees from the north in search of a top notch golf community in a moderate climate.
June ‘08 June '07 YTD '08 Same ‘07
Pinehurst Single Family
# Units Sold 25 35 126 189
Average Price $281,576 $325,814 $321,757 $329,531
Avg. Days on Market 119 110 132 135
Pinehurst Condos
# Units Sold 10 13 46 60
Average Price $198,088 $164,461 $217,739 $158,805
Avg. Days on Market 218 101 248 136
Information provided by Broker/REALTOR® Todd Kenthack, owner of The Pines Realty. Contact Todd at (910) 603-9050 or by email at Todd@GolfHomesInPinehurst.com .
Source: Pinehurst-Southern Pines MLS as of 6/30/08.
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