Champions Ridge is a developing section within the popular Mid South Club.  These cottage style single family units began construction several years ago and are drawing a lot of interest from buyer prospects seeking mid sized home w/ nice finish work and no exterior maintenance a gated golf community.  The developers are offering five different cottage floor plans (The Hogan, The Palmer, The Nicklaus, The Jones and The Donald Ross) and the units range from about 2,200 to 2,700 s.f. They offer 3 and 4 bedroom plans and all have high-end rich finish work and very impressive features.  There’s a mix of “golf view” and “golf front” units.  Prices generally range from the high 300′s to the high 400′s. 

Most Champions Ridge homes come with a transferrable Mid Tal membership.   The buyer would pay a transfer fee (currently $12,500) at closing. 

See Champions Ridge Listings     Note:  This link will include other sf homes in Mid South but the remarks section and pics will help you identify CR listings.

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.

The information below is from the Pinehurst-Southern Pines MLS, for the period of January 1st to December 27th 2007 and the same period for 2006.

2007 single family home sales statistics for Pinehurst show a slight increase in prices and a significant decline in number of units sold, compared to the same period in 2006.   In 2007, 381 homes sold with a median sales price of $259,900 and an average days on market of 100.  This compares to 483 homes in 2006 that sold for a median price of $250,000 with an average days on market of 106. 

The statistics for condo and townhome sales for the same periods show very little change in units sold and a fairly significant increase in prices.  In 2007, 116 units sold with a median price of $154,000 and an average days on market of 84.  In 2006, there were 126 units sold, but the median price was about 13% less at $136,000 and the average days on market was 80.  This reflects a consistent demand for Pinehurst condos and townhomes, particulary higher-end units and larger, newer units being sold in several new subdivisions including Lamplighter Village and the Villas at Forest Hills.  

These statistics show the expected slowdown in activity but also reveal that prices in the Pinehurst market are holding their own versus many other markets across the country. 

Pinehurst Property Statistics from the Pinehurst-Southern Pines MLS, as of November 25, 2007:

Single Family Homes

There are 253 single family home listings, ranging in price from $145,900 to $2,750,000 with a median price of $369,000.   Over the last 30 days, there were 36 new listings and 22 closings.

For more detailed statistics for one of Pinehurst’s most popular subdivision, check out the Pinehurst No. 6 Home Market Pulse at:  http://www.golfhomesinpinehurst/no.6

Condominiums/Townhomes

Currently there are 57 active condo/townhome listings in Pinehurst, ranging in price from $79,500 to $550,000 with a median price of $214,000.  Over the last 30 days, there were 5 new listings and 8 closings.

Lots

69 lots are currently listed for sale, ranging in price from $28,000 to $599,000 with a median price of $79,000.  34 of these lots have a transferrable Pinehurst Country Club membership.  Over the last 30 days, 10 lots have been listed and 8 have sold.

If you are seeking a brand new luxury Pinehurst townhome with tons of space and many interior and exterior added features, you may want to take a closer look at the Villas at Forest Hills.  This new subdivision is conveniently located off of Morganton Road in Pinehurst, very close to popular local shopping destinations in Southern Pines and the Village of Pinehurst. 

These villas are quite large: the three bedroom units are over 2,400 square feet and many have three full baths; the four bedroom units are over 3,000 square feet and come with three full baths.  All units have 2-car attached garages.   Plus, all the units come with bonus rooms.  The interior includes a large gourmet kitchen and plenty of rich finish work throughout.

The Villas at Forest Hills do not come with a transferrable Pinehurst CC membership.  Current asking prices for these units range from about $360,000 to $425,000.  See current listings.

Call or email Todd to schedule a showing or request additional information. 

Looking for a spacious and modern townhome with a Pinehurst membership? Check out the brand new Lamplighter Village Luxury townhomes with two, three and four bedroom plans and attached garages. Residents are within a few steps of the well-regarded Pinehurst No. 6 Clubhouse, offering quick access to golf, tennis and a pool; Pinehurst memberships available. Lamplighter Village townhomes range in price from approximately the low $270′s to around $340,000. The townhomes are situated on a lightly traveled road and the surrounding terrain offers lots of privacy!

Call Broker/REALTOR Todd Kenthack today to arrange a showing or request additional information about Lamplighter Village Luxury Townhomes or any Real Estate in Pinehurst, North Carolina. You can also email him anytime at Todd@golfhomesinpinehurst.com to request information or assistance regarding homes or land in Pinehurst, NC. Or search for all available properties in Pinehurst by visiting www.golfhomesinpinehurst.com.

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

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.

The development of 58 new single level condos within the gates of Mid South has started.  Whether you’re looking to “downsize” or for an affordable way to reside inside the Mid South community, these villas are worth looking into.  Contact Todd for more information.

Check out the following excerpts from a 7/9/07 article published in The Pilot:

 New Community at Mid South Club Breaks Ground

The Sandhills newest condominium community is now under construction. Group 90, a preferred builder for Epcon Communities, recently broke ground on a 58 unit ranch style condominium development within the Mid South Club. Epcon Communities is a leading home builder of ranch style condominiums and is currently the 35th largest homebuilder as recognized by Builder 100.

Located in the Mid South Club master-planned golf community, Camden Villas will consist of 58 ranch-style condominiums situated on the highly acclaimed Arnold Palmer signature golf course. Surrounded by four holes of golf, the site offers dramatic views of the golf course, ponds, and the Mid South Clubhouse.

“This is an absolutely fantastic site. The views of the golf course, the pond on the second hole and the elevation changes will make this community very unique,” says Group 90 managing partner, Mark Catalano.

Most of the units will average between 1800 and 2000 sf and feature 2 & 3 bedroom ranch-style floor plans complete with a Carolina room and attached 2-car garage.

A variety of condominium services such as exterior maintenance and lawn care will be provided.  In addition, Camden Villas features a private fitness facility and designer-decorated clubhouse, which will provide the perfect place for neighborhood gatherings.

Not only will residents be able to enjoy the beautiful views of the golf course they will be able to use the club facilities. Included in the initial purchase price of the unit is a Holly Membership to the Mid South Club and Talamore club.

Initial pricing for the community starts in the mid 200′s.