Whether you are a prospective purchaser or current homeowner in Pinehurst NC, you’re probably wondering how are market has been faring so far in 2009.  The numbers below give you monthly comparisons for single family units inside Pinehurst for November ’09 and ’08, as well as YTD through November 30th. 

Not surprisingly, the YTD average sales price shows a decline of about 6%.  Sales volume so far in ’09 is down about 11%, and average days on market has risen to 160 from 138.  Many regions throughout the U.S. are experiencing similar or even more severe price and volume declines. 

Interestingly, when comparing November ’09 to November ’08, we saw a fairly big jump in number of units sold this year.  The big question is…..will that monthly uptick continue in the coming months?  We shall see…..

Though the overall economic climate is not great by any stretch, there are some positive signs/influencers that should assist the housing market’s recovery.  Mortgage rates recently fell to all time lows.  The pending home sales index just hit an all time high for annual growth.  And of course the recently expanded home buyer tax credits available through April of ’10.       

                                                     Nov ‘09          Nov ’08               YTD ’09          YTD ’08

Pinehurst Single Family

# Units Sold                                     21                   10                       200                  225

Average Price                              $335,497        $293,390            $300,876        $320,881

Avg. Days on Market                       156                   120                     160                  138

Source:  Pinehurst-Southern Pines MLS as of 12/7/09.

This entry was posted on Tuesday, December 8th, 2009 at 4:48 pm and is filed under Pinehurst Home Sales, Pinehurst Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.