Home > Whispering Pines and Carthage Real Estate Market
National Market Conditions
Local Summary: Unlike many markets across the country, the supply of available inventory is good. Prices are increasing with listings averaging three-plus months on the market. While there are currently more sellers than buyers, the market is heating up.
2017 3rd Quarter Market Report: Home Sales and Prices Hit a Wall

The 3rd quarter of 2017 ended with not much of a change from the 2nd quarter. Home sales are down slightly and home prices continue to rise with median home prices up 4.2% year over year, but down from the second quarter's 6.2% increase. The primary reason for the slow-down in sales is the limited number of homes for sale, higher prices and less buyers being able to afford to buy a home.

The most notable change in the 2nd quarter was a shift in the amount of buyer activity declining 16% from last quarter. Additionally we found a significant change in the amount of price appreciation. Although 91% of the markets reported price appreciation there was an 11% shift from those markets reporting 5-10% appreciation and over 10% appreciation to those markets reporting under 5% appreciation.

According the National association of Realtors (NAR) existing home prices were up 4.2% over last year; the inventory of unsold homes is at a 4.2 month supply and 48% of all homes were sold in under one month. Still home sales dropped overall due to the low inventory of homes for sale.

The data in this report is generated primarily from our survey of HouseHunt.com and MoveUp.com exclusive member real estate agents across the United States. This grass roots approach to studying the housing market gives us a thorough look at where the real estate market is through the eyes and perspective of the local real estate agents who are living and working in the trenches of each community.

Buyer and Seller Activity
The trend in buyer activity is significantly higher than seller activity, however there was a definite downward trend in the number of markets continuing to show increasing buyer activity in the 3rd quarter. Our Realtors reported increasing buyer activity in 73% of the markets - down 16% from last quarter, but up 7% compared to last year. Seller activity was increasing in 49% of the markets in the 3rd quarter which was no change from the 2nd quarter, but up 9% over last year.

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Spring 2018 Market Update
Interest rates are fantastic, so there is no better time than now for buyers to find attractive housing that they can afford. The area is the golf capital of the world. It is also a major equestrian center that is home to a large resort and retirement community.
Average Sold Home Price: $218,253

Average Time on Market: More than 120 days

Market Trend: Increasing

Buyer's or Seller's Market: More sellers than buyers

Multiple Offers? Yes

Greatest Activity: First time, move-up & repeat buyers, single-family homes, condos/townhomes

Best reason to buy or sell: Good economic news

Nearest Metro Area: Raleigh, NC

Housing Hot Spots: Pinehurst

Contact Information
Adam and Karin Piergallini
910-603-1036
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Mortgage Rates for Apr 22nd, 2018
30 year fixed rate: 4.25%
15 year fixed rate: 3.66%
30 year jumbo rate: 4.40%
15 year jumbo rate: 4.12%
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Real Estate Professional, Adam and Karin Piergallini Adam and Karin Piergallini
CENTURY 21 Prime Properties
Specializing in Whispering Pines and Carthage Real Estate
P.O. Box 5205
Pinehurst, North Carolina 28387
910-603-1036
Email Me | Receive New Listings by Email
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(Because current market conditions can change rapidly in any given marketplace,
please check with Adam and Karin Piergallini for current Whispering Pines and Carthage, NC market conditions before acting on this information.)
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