2015 Market Report Moore County North Carolina PINEHURST OFFICE – VILLAGE COURT BLDG PINEHURST - 910 295 5504 SOUTHERN PINES OFFICE – CORNER ILLINOIS & BROAD - 910 692 2635 BHHSPRG.COM
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• Recognized for Quality and Superior Service • No other real estate competitor can match the wealth of resources and marketing advantages of Berkshire Hathaway HomeServices • We are proud to have the trust of our clients in the Moore County Market for over 45 years. In 2015 we successfully listed & sold over $86 million worth of properties and over 340 units. • 2015 was important to our firm with a 7% increase in units sold and a 28% increase in the dollar volume. Our average selling price is the highest in the top 5 firms at $252,109 per sale. • The Luxury Market in our area, with properties over $500,000, showed positive
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gains with an increase in the number of units sold up 37% compared to the previews 12 months. The sales volume increased by 18%. Berkshire Hathaway HomeServices Pinehurst Realty Group enjoyed an a growth in our luxury market share by 66% in units and 70% in dollar volume. The Brand’s association with premium quality is among its most important assets. This is why only select companies that meet the most demanding of criteria are
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MOORE COUNTY RESIDENTIAL SALES TRENDS 2015
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MOORE COUNTY RESIDENTIAL SALES TRENDS BY CITY 2014 VS 2015
2015 MOORE COUNTY RESIDENTIAL SALES TRENDS BY PRICE RANGE
2014 & 2015 MOORE COUNTY DATA
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Days on Market Comparisons by Price Range in 2013 and 2014
Monthly Market Reports specific to your neighborhood. Keep up to date on the market where you live. Weekly Seller Advantage Reports indicated how your property compares to others offered for sale when you are listed with Berkshire Hathaway HS Pinehurst Realty Group. House Track Updates are available for you if you wish be alerted when a property in the neighborhood that you are interested in becomes available.
The statistics presented in this report are compiled based on figures and data generated by the Mid Carolina -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 Mid Carolina -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.
2015 MOORE COUNTY DATA
WHO ARE WE SELLING TO? • • •
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We continue to support the newly retired who are looking for quality of life, excellent and convenient health care, an affordable but nice home and recreation that is not exclusive to golf but also includes entertainment and cultural offerings. Our proximity to Fort Bragg, our schools and quality of life are a strong draw for military families. We also have new construction and resales that appeal to their housing needs. A new element has been added to our residential buyers that is comprised of those who can choose to live where they wish because they are not tied to a location to do their business. We call these folks - the geographically mobile. They can work from home or maintain an office in one of our towns and enjoy the easy commute to an office and a pleasant work experience apart from the bustle of a metropolitan area. Technology is the key to this growth. Finally, we are selling to friends and families who are already living in Moore County. This has been a strong factor for our growth in real estate in many years and it will continue to be. Moore County is a very welcoming community.
Mortgage Financing: We have some significant evidence that the demographics of Moore County are changing to a younger buyer by reviewing the financing data for residential sales. Of the approximately 1700 residential units sold, the following types of financing were used: Cash – 437, Conventional – 535, FHA – 80, Rural Development – 18, Lease – 126, Owner Financing – 3, Other 47 and VA – 521. The use of government insured loans has risen in the last 2 – 3 years, and this is directly tied to the increase in military families moving to Moore County. New Construction: Although the total number of newly constructed homes offered in 2015 dropped by 27%, the sales increased from 2014 by 7% in Sales Volume and 2% in Units Sold. The average sale price for new construction in 2015 was $284,106 up 5% over 2014. This market benefits by the proximity to Fort Bragg as our rental market does.
Rental Data: Residential rental activity continues to be strong and has increased 13.2% from 2014 with 480 units rented per the Mid Carolina MLS. The average listed rental for 2015 was $2,459. The average rental price was $1,777, down 5% from 2014. We show less than 3 months inventory available in 2015 with the Days on the Market for rentals averaging 76 days. This market has also been strong for military families assigned to Fort Bragg.
Land Sales: Our lot and land sales increased in 2015 by 6.9% with 339 units sold. The number of land & lot sales over $100,000 almost doubled in 2015, which accounts for the dramatic rise in the average sold price of $69,476, a 16.7% increase over 2014. Many of the higher sales were in the gated country club communities or large tracts of land.
Commercial Sales: The activity we have to report for 2015 shows an increase in combined sales and leases by 17.5% over 2014. However the sales activity still has a long way to go with absorption rates of close to 3 years for the inventory available. It is difficult to track all of the commercial activity because much of it happens outside the data that is supplied to our multiple listing service. One only has to drive through some of the major traffic corridors in Moore County to see that we are in a commercial construction growth. Retail, restaurant, apartment and entertainment construction is well underway.
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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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