As mentioned in previous blogs, the Moore County (and especially Pinehurst) real estate market is faring very well of late when it comes to price stability. Several buyer prospects I have worked with recently have asked me about condo and town home price trends relative to single family homes.
The answer.....average prices for condos and town homes have been up for '08 vs. '07 in every month I've done the YTD comparisons. For instance, as of my latest calculation for the end of October, prices are up about 25% over YTD '07. So, why is this occuring? The answer is this market has seen a quick increase in luxury condos/town homes coming on the market for the past couple of years. Communities such as Lamplighter Village, the Villas at Forest Hills and Cotwold are a few good examples. In years prior the majority of condo sales were comprised of the older and smaller Pinehurst condos built in the 70's.
Prices for these "higher end" units range from the high 200's to the low 400's. Many also have transferrable Pinehurst or other club memberships. Check it out yourself....Click Here to customize your own search.
For assistance with any real estate in Pinehurst or anywhere in Moore County, contact Broker/Owner Todd Kenthack of The Pines Realty at (910) 603-9050, or by email at Todd@ThePinesRealty.com.
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