July Newsletter
6 - Month Review of Real Estate Sales – July 1, 2011
Everywhere we go, Audrey and I are asked how is the real estate market and which way is it heading? Please see the statistics below to better understand the temperature of our local real estate market, how sales have compared to this time last year and which towns have the most number of sales. We hope you will find it most interesting.
You will notice that a large part of our sales is as a result of our expanding coverage area. Realtors from outside our area are joining our MLS and posting properties as far north as Sanford, east into Harnett County to mention a few. Our results/statistics will include these expanded areas.
We currently have 1600 residential properties for sale and the average number of days on the market to close has been 174. Our average sales price is $240,265.00
There have been 6 properties sold this year greater than 1M and they were as follows:
Carthage – 1* Southern Pines – 2 * Pinehurst – 3
2010 - Properties Sold from January – June (first 6 months) Total = 576 Residential
Pinehurst – 155
Southern Pines – 110
Aberdeen – 61
Whispering Pines – 43
Seven Lakes – 38
Vass – 34
Carthage – 25
West End – 25
Sanford – 20
Horse Farm Sales – 2010 January – June
9 Sold – $165,000 to $1,280,000
The First Time Home Buyers Tax Credit had an impact on the overall number of sales in 2010
2011 – Properties SOLD from January – June (first 6 months) Total = 530 Residential
The following are the top 8 areas sold
Pinehurst – 136
Southern Pines – 95
Aberdeen – 45
Whispering Pines – 41
Sanford – 34
Seven Lakes – 32
Carthage – 31
Vass – 28
Horse Farms Sales – January – June 2011
11 Sold - $214,000 to $1,600,000
The military movement to this area is definitely affecting our sales and the location of sales. An increased number of realtors from outside Moore County have joined our MLS and consequently property inventory is encompassing a much larger area than in the past. As you can see, Sanford is now beginning to be a factor in our local sales.
Recent statistics through the US Census Bureau
· Moore County population 88,247 (698 square miles)
· Pinehurst population 12,542 (26.60 square miles)
· Southern Pines population 12,376 (30.05 square miles)
Between the years 2000 and 2010 Moore County has grown by 18% (increasing population by 14,000).
DeSell & Co has exceeded 2010 sales by 100% to date. We have sold 19 properties and have 6 currently under contract. Our ranking is 8th out of 450+ realtors in our Pinehurst/Southern Pines Association of Realtors. We look forward to helping you with your real estate needs………
We hope you all enjoy a wonderful summer!
Jo-an DeSell
