Prudential Gouger O’Neal & Saunders Real Estate is your resource for timely real estate market information. We proudly present to you our series of reports to keep you up-to-date with the current real estate trends in Moore County.
Produced in conjunction with the Pinehurst/Southern Pines Area Association Multiple Listing Service, our market reports are the benchmark for residential real estate market information and an essential reference source for our clients, financial institutions, and other market professionals. Each overview looks at trends, in which statistics are broken down by the average sales price and the number of sales for each month. Our goal is to give consumers an idea of immediate, historical and emerging market trends.
In the News: See the 2012 1st Quarter Market Report – See the 2012 2nd Quarter Market Report, See the 3rd Quarter Market Report for Moore County and neighboring areas for the year: Including reviews of the 1st quarters of 2010 and 2011; Absorption Rates for Areas; Pending Trends; and, Residential Price Analysis.
Prudential Gouger O’Neal & Saunders Market Production – Highest Average Selling price – Highest Volume of Sales in Pinehurst and Southern Pines Area Good news for our company sales in 2012 with a 32% increase in sales over 2011. We have also experienced and increase in online traffic and customer internet contacts in 2012 which has resulted in more buyer leads – an important factor in our sales volume growth.
The Moore County Market Review for 2012 – Year to Date (5.25.2012)
Traffic Flow – Migration Patterns State by State: North Carolina is in the top 10!
Buyer or Seller Market: Buyer
Average Time on the Market:180 plus days for Residential, higher for land and commercial.
Market Trend: Buyer activity – stable. No more tax but sellers are “pricing right”. Note the return of Value Range Marketing by Prudential Gouger O’Neal & Saunders! We have successfully used this for homes in our market.
Housing Inventory: Good Supply. Many price adjustments. New construction – sales rising.
Sales volume for 2009 vs 2010 vs 2011
Best Selling Price Range: $100,000 – $300,000 – same for 2009 and 2010 and 2011. See the comparisons of 2008 – 2011
Some highlights of this market through May 2012:
- The current number of listings in all classes slightly higher than 2011.
- The current number of residential listings higher for 2012. More new construction is available.
- The average sales price was $230,381 for 2011 was $235, 641 for residential properties.
- The number of days on the market is 198
- Foreclosures sold in Moore County per the MLS = 25 with an average price of $212,720
Multiple Offers: Rare
Short Sales: On the rise, builder’s homes are most likely subjects.
Greatest Activity: First time buyers, move up buyer, single family properties, and military families fromFortBragg. Rental requests on the rise.
Military Families, Money and Housing
Combat Pay: Combat pay normally isn’t subject to federal income tax. But those receiving it can choose to include it as taxable income to help qualify for the Earned Income Tax Credit (up to $5,657 for three or more qualifying children for 2009). This is a refundable tax credit for those with low to moderate incomes. If you serve overseas and want to qualify for the Earned Income Tax Credit , you must file a tax return – even if you’re receiving combat pay. For details, go to www.IRS.gov and search EITC. Consult an accounting professional for specifics on your tax situation. We welcome the soldiers from Fort Bragg in Fayetteville to look at Moore County as a great place to live and raise a family.
Buyer Tip:If you’re thinking of buying, the timing couldn’t be better! However, be prepared to make a larger down payment (10 – 20%) and provide full documentation. For properties in the $200,000′s the government insured loans are encouraging, such as FHA and VA. Negotiate to your advantage but with reason. Don’t expect the seller to give you the home for thousands of dollars below the neighborhood comparables and you will make a good deal that will stand the test of time.
Seller Tip: If you are serious about selling, properties must be priced extremely competitively from day 1 to attract the fewer qualified buyers that are now shopping for property. Be open minded about offers. Buyers tend to test the waters – counter and keep the dialogue going. Give and you will receive. Buyers want to think they got a steal, so make them feel like they did. Pick up the tab for some of the closings costs, or dangle a cash bonus or offer a home warranty. Offer seller financing if you have the equity position to do so. Some or all of these tips will make you and your home the winner. Try our Prudential Value Range Marketing for an agressive way to position your property in a slow market!
- All Statistics supplied by the Pinehurst/Southern Pines Multiple Listing Service