Inventory is perhaps the truest indicator of the health of any real estate market. The Pinehurst MLS (which includes all of Moore County) is no different. In the Pinehurst area market, most real estate sales are single family homes. So, the inventory of single family homes for sale very accurately reflects market conditions. Like anything else, an oversupply creates a buyers’ market (lower prices) and an undersupply creates a sellers’ market (higher prices).
Click Here to Track Inventory Levels Daily
In a “normal” market (neither a buyers’ or sellers’ market), we would expect to see an average of about 900 single family homes on the market in local MLS, with seasonal fluctuations of around 5% either way. It’s been a long time since we’ve been at the 900 mark. The inventory of Single Family Homes for sale in Moore County peaked in May 2009 at about 1,250 units. With sales activity in June, 2009, inventory began to drop and by the end of 2009, there were only 950 homes for sale in our market. As expected, the inventory increased in January 2010. At the end of Q3 – 2010, there are 1,061 single family homes on the market. By comparison, there were 1,092 single family homes on the market for sale at the end of Q3 in 2009.
At least 5 times each week, we post the Single Family Homes Inventory number on the internet for you to follow. Click here to follow.
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