Prices and average days on market in Southern Pines, NC are currently holding steady. Sales in Southern Pines are down 80% compared to the fourth quarter of 2007.  The median price of sold homes has fallen which indicates the fourth quarter sales have been homes priced lower than the current average list price. The current level of inventory compared to units sold in the fourth quarter is creating a higher than normal absorption rate.  The high absorption rate signifies that Southern Pines is in a buyer's market.  

Note:  Absorption rate is used to follow market trends.  It is the number of weeks it will take to sell current inventory at the rate of present sales. Absorption rates can change rapidly due to seasonal adjustments.

More than 7 months of inventory signifies a buyer's market.

5 to 7 months is a neutral market.

Less than 5 months is a seller's market.

Linda Breeding

910-690-8368

www.RealEstateInPinehurst.com