Sales volume continues to be lower vs. 2007, and average prices for homes sold in Pinehurst about even with '07 figures. These figures are impacted by sales of larger, newer homes; this is especially the case with condos in the Pinehurst market with a substantial increase in the number of higher-end units being sold. YTD volume of single family homes is down by about 35% from the same period in '07; condos are off by about 25%. 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.
May ‘08 May '07 YTD '08 Same ‘07
Pinehurst Single Family
# Units Sold 20 32 101 154
Average Price $362,127 $306,625 $331,703 $330,375
Avg. Days on Market 207 121 135 141
Pinehurst Condos
# Units Sold 10 9 35 47
Average Price $198,157 $149,111 $223,546 $157,241
Avg. Days on Market 257 96 260 145
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 5/31/08.
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