If you’re a serious buyer researching homes in Pinehurst, you will be interested in the statistics below.  The Pinehurst real estate market has truly become a buyer’s market, whether you are searching for a home or land.  Although homes in Pinehurst are continuing to appreciate, there is a much larger inventory and a declining trend in sales.  That said, real estate in Pinehurst is still faring much better versus many other markets across the country. 

Pinehurst Area Real Estate Statistics (annual stats. through August 25^th of each yr. taken from Pinehurst-Southern Pines MLS)

Moore County Home Sales 

Year                 Listed               Sold                 Avg. Sale Price

’05                   1,190               1,166                  $232,066                          

’06                   1,322               1,193                  $253,000                          

’07                   2,054               1,092                  $262,150                          

Year                 Listed               Sold                 Avg. Sale Price

’05                   615                  610                      $75,618                           

’06                   683                  576                      $71,712

’07                   878                  381                      $80,602

Check out the following article from the website www.golfclassic.org about this great fundraising event, to be held August 24-27th at Pinehurst Country Club. 

Throughout his life, Jim Valvano kept a list of things he wanted to do on note cards in his pocket.  The last note card Pam Valvano pulled out of Jim’s sport coat pocket read, “find a cure for cancer.”  Jim dreamed of an event that would raise significant funds for cancer research.  Thirteen years ago, that dream became a reality in the Jimmy V Celebrity Golf Classic. 

The Golf Classic weekend has been called “A Magical Weekend” by many.  When you mix together generous sponsors and outgoing celebrities, tug on a few heartstrings, and play lots of golf, you will surely find yourself having nothing short of a magical weekend. And proudly, we announce that after thirteen years of magical Golf Classic weekends, we have raised over twelve and a half million dollars for cancer research.  Those dollars help fund research grants at scientific and medical facilities nationwide that will one day help us reach Jim’s ultimate goal of finding a cure for cancer!

We have ALL been touched by cancer.  We have learned that what makes our event so unique is how personal the weekend has become. That’s why we believe that “Cancer is about people.” It’s about our parents and our children, our neighbors and our friends. It has touched our clients, it has touched our co-workers, and for some of us, it has touched that face in the mirror. Beyond all of the science and the statistics, the medicine and the treatments, are the people, their challenges and their triumphs.  The cures for cancer will be found in laboratories and research hospitals, but the battle against cancer is fought in neighborhoods like ours.  We have all been affected by this disease. By participating in The Jimmy V Celebrity Golf Classic you CAN make a difference in this fight!

We invite you to join us for our fourteenth magical weekend as we move our event to the world renowned, Pinehurst® Resort.  We will offer play on courses No. 2, No. 4, and No. 8 during both Saturday’s Nike Cup, and Sunday’s Celebrity Classic. Additionally, the 2007 Pre-V will be played Ryder Cup style on Pinehurst’s preeminent No. 2.   The 2007 Classic, which will be held August 24-26, in Pinehurst, offers a wide variety of sponsorship opportunities to both corporate and individual sponsors. 

Recent statistics for pending home sales as published in Realtor Magazine Online.

Daily Real Estate News  |  August 1, 2007

Pending Home Sales See Biggest Gain in 3 Years
The market is likely to stabilize in the months ahead, according to the NATIONAL ASSOCIATION OF REALTORS®’ forward-looking indicator on pending home sales.

The Pending Home Sales Index, based on contracts signed in June, was 5 percent higher from the downwardly revised May index of 97.5, but is still 8.6 percent below June 2006 when it stood at 112. The 5 percent monthly gain is the largest in more than three years, since a 6.1 percent increase was recorded in March 2004.

Lawrence Yun, NAR senior economist, says it’s encouraging that the increase occurred in all four major regions of the United States. “However, it is too early to say if home sales have already passed bottom,” he says. “Still, major declines in home sales are likely to have occurred already and further declines, if any, are likely to be modest given the accumulating pent-up demand.”

The index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed.

What Happened Regionally

Here’s a breakdown of what the PHSI showed across the country:

• West: the PHSI increased 8.6 percent in June to 103.6, but was 5.5 percent below a year ago.

• Northeast: the index rose 3.1 percent from May to 96, which is 2.4 percent lower than June 2006.

• South: the index increased 4.7 percent in June to 111.6, but was 12.7 percent below a year ago.

• Midwest: the PHSI rose 3.5 percent in June to 92.5, which is 8.2 percent lower than June 2006.

— REALTOR® Magazine Online

The Pinehurst area continues to be the primary draw for tourism in Moore County.   Check out excerpts from a recent August 3, 2007 article published in The Pilot. 

Tourism Revenues Top $246 Million

BY TOM EMBREY: STAFF WRITER

Visitors to Moore County spent a record $246.2 million last year on domestic leisure and business travel, such as golf green fees, hotel stays, restaurant and retail purchases.That is a 6.2 percent increase from 2005, based on the results from the Travel Industry Association study titled “The 2006 Economic Impact of Travel on NC Counties.” Pinehurst hosted the U.S. Open in 2005.

“It was a phenomenal year,” said Caleb Miles, president and CEO of the county’s Convention and Visitors Bureau (CVB).

Miles attributed the increase to the fact that the local economy is stronger and because 2006 fell between years in which the area hosted major golf Champion-ships. Pine Needles hosted the U.S. Women’s Open June 25-July 1.  “The residual effects from the Men’s Open (in 2005) and the increased marketing we did for the 2007 (Women’s U.S.) Open really helped create interest,” Miles said.

Moore County’s tourism spending total placed 11th out of 100 counties.  Moore County ranks 23rd in population.