2014 Market Report Moore County North Carolina PINEHURST OFFICE – VILLAGE COURT BLDG PINEHURST - 910 295 5504 SOUTHERN PINES OFFICE – CORNER ILLINOIS & BROAD - 910 692 2635
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Listing Specialist or Buyer Specialist • Residential Sales, Commercial Sales, Farm and Land Sales, Rental Assistance and Management, Investment Property Analysis The 2014 Market Snapshot: We had a record number of guests in Moore with the back to back US Open and US Women’s Open. This moved our numbers up for short term rentals for the month and weeks of June enormously. The MLS statistics for US Open rentals: The average rental was $5,526 analyzing some 52 properties that were rented for the event (NOTE: Many more homes and condos rented but not marketed through the MLS.) The event did little in terms new real estate sales but the exposure to Moore County and North Carolina was significant. The largest growth in the 2014 real estate market has been in residential rentals with a 31% increase over 2013. Mortgage rates are still excellent and we see a larger number of homes financed with VA loans, reinforcing the connection to the military buyer – whether active duty or veteran. The military influence in home sales is noted in the large number of new homes that have been sold and in the areas that are more convenient to Fort Bragg such as Southern Pines, Carthage, Cameron, Whispering Pines and Aberdeen.
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MOORE COUNTY MARKET REPORT 2014 & 2013
Moore County Residential Sales and Rentals
Days on Market # of Sales Median Price Average Price
Volume
Pinehurst 2014
170
356
$239,950
$287,902
$102,493,291
2013
184
369
$256,000
$302,366
$111,573,162
2014
145
228
$272,500
$281,902
$64,233,520
2013
167
207
$273,000
$273,538
$56,622,483
2014
158
161
$202,500
$207,653
$33,432,216
2013
130
126
$190,000
$193,170
$24,339,427
2014
158
138
$200,000
$243,949
$33,665,003
2013
178
136
$179,950
$230,652
$31,368,713
2014
152
126
$247,500
$255,063
$32,137,996
2013
159
140
$265,450
$270,446
$37,862,446
2014
136
75
$215,000
$182,553
$13,691,493
2013 New Construction in Moore County
169
32
$205,127
$185,314
$5,930,070
2014
162
302
$265,000
$269,971
$81,531,498
2013
152
241
$259,900
$268,033
$64,596,055
2014
68
552
$1,400
$1,773
$979,115
2013
80
419
$1,395
$1,382
$579,426
2014
314
297
$58,707
$30,000
$18,434,211
2013
297
250
$63,394
$35,000
$18,701,426
Southern Pines
Aberdeen
7 Lakes/Foxfire
Whispering Pines
Carthage & Cameron
Rentals in Moore County
Land and Lot Sales in Moore County
These statistics are from the Pinehurst/Southern Pines Area MLS and are deemed to be reliable but not guaranteed.
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CHARTING THE TRENDS IN MOORE COUNTY ALL PRICE RANGES
The trend lines for the number of listings sold for residential properties shows a normal seasonally adjusted market. This has been a normal pattern for our sales for years. Included in this graph are – all price ranges of residential properties
As the Average Days on the Market graph shows, we have made excellent progress in reducing the average days on the market in the sold category.
Pricing a home to sell has always been a critical part of our selling process but is even more so now. Buyers have access to detailed statistics on the homes they view before buying using the internet, these comparisons help them with their base offer and the final negotiations.
CHARTING THE TRENDS IN MOORE COUNTY ALL PRICE RANGES
Absorption Rate – to determine the absorption rate, we calculate the number of homes sold within a period of time, those results indicate the number of months it takes to sell the inventory in Moore. A six month rate is the sign of a healthy market. We are moving in the right direction.
Sold Price vs. Listings Sold – this graph shows the median and average prices for the homes sold in Moore from Jan – Dec 2014. The number of listings shown are only those newly listed within each month of the year.
2013 & 2014 MOORE COUNTY DATA
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Number of Units Sold by Price Range in 2013 and 2014 Price Range 1 - 100,000 101 -200 201 - 300 301 - 400 401 - 500 501 - 600 601 - 700 701 - 800 801 - 900 901 - 1,000 1,001 - 1.5 ml 1.5 mil +
2013 109 483 429 225 70 28 26 4 2 2 2 1
2014 120 465 487 208 75 26 14 5 7 9 2 3
Days on Market Comparisons by Price Range in 2013 and 2014 Price Range
2014
2013
1 - 100,000
168
182
101 -200
149
167
201 - 300
163
165
301 - 400
171
198
401 - 500
179
167
501 - 600
259
234
601 - 700
369
244
701 - 800
137
271
801 - 900
356
911
901 - 1,000
315
75
1,001 - 1.5 ml
154
815
1.5 mil +
412
457
The statistics presented in this report are compiled based on figures and data generated by the PSP-MLS. Due to possible reporting inconsistencies, Days on Market (DOM) should be used to analyze trends only. Property and statistical data is derived from the PSP-MLS and is solely for your personal, non-commercial use in buying or selling a property and is deemed reliable but not guaranteed and should be verified. All representations and warranties regarding the information are disclaimed. Reproduction or any other use is prohibited.
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e. Southern Pines, NC 28387 Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently red service marks of HomeServices of America, Inc.® Information not verified or guaranteed. If your property is currently listed with a Broker, th
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