Woodlake CC is a gated golf and lake community located in Vass, NC.  Vass is in eastern Moore County, very close to Fort Bragg and a reasonable drive to Pope AFB.  Woodlake offers residents (through membership) the opportunity to enjoy two 18-hole courses on site (Palmer and Maples courses) and its sister course (The Carolina) located in nearby Whispering Pines.  Member residents also enjoy lake activities including boating, fishing and water skiing.  The current transfer fee (fee paid by buyers on properties that have a Woodlake active membership) is $6,720; thereafter members can choose the monthly dues program that works best for them.   They have many monthly membership options, reasonably priced.

You will always find a healthy supply of single family homes in Woodlake, with prices as low as the mid 100′s to about 800 thousand for luxury waterfront homes.  There are also some 2 bedroom condos in the community usually available for the low 100′s.

See All Woodlake CC Listings

Pine Grove Village is a very attractive single family home community located in Southern Pines, situated between Pinehurst and Whispering Pines off Airport Road.  

Though it is not a “gated” or “golf” community, homeowners dues (under $500 yr. for single family & around $110 per month for the condos) cover use of a clubhouse, pool and tennis courts.  Lot sizes are a little larger and more private than you will find in other local neighborhoods.  It’s also a fairly small community. 

Single family home listings are usually in the high 200′s to mid 500′s.  The 2 and 3 bedroom condos (garden villas) are very reasonably priced, from under $100k to about $130k. 

See All Pine Grove Villa Listings 

If you are a homebuyer seeking a new development or neighborhood to move to in Moore County, I’ve written a separate blog to help you identify options.  It includes general information on the following subdivisions:  Arboretum, Foxcroft, Laurel Commons, Luke’s Landing, Princess Gate, Sandy Springs, Sinclair and Savannah Gardens.  You will also find quick links to current listings in each neighborhood.  Click Here to check it out.

By just about anyone’s account, 2009 has been a challenging year for our local real estate market.   Prices have dipped a bit in our Moore County market, and many sellers (particularly w/ homes listed above $250,000) are a bit frustrated about the length of time their homes have been listed.   Many have reduced their list price to spur activity. 

The good news is that year to date sales volume for single family homes is about the same as it was last year; 908 units through 11/09 compared to 905 units through 11/08.   Interestingly, the count for the month of November is quite a bit higher vs. November of ’08; 75 versus 50.   Hopefully we will see this trend continue in the coming months!  

Of course, average sold prices show a decline of about 7% in the last year.  Also worth noting is the increasing list price to sales price gap, from about 4% YTD through November ’08 to about 4.7% YTD in ’09.  So we may see average sales prices decline a bit more before beginning to rise again.   But these recent monthly trends are a good sign for the Moore County real estate market.   For now, it’s a buyers market.  With mortgage rates still at low levels, tax credits available to many purchasers, now is a great time to buy!

Data Source:  Pinehurst-Southern Pines MLS as of 11/30/09

Below you will find some sales statistics for Moore County NC with breakdowns for single family homes and condos, as well as period comparisons for the month of June and YTD for 2007 and 2008.  Yes, YTD sales volume is certainly down: about 32% YTD for single family units and 15% YTD for condos.  Average sold prices remain strong in both categories.  

                                                June ‘08          June ’07             YTD ’08         Same ‘07

 Moore County Single Family

# Units Sold                                 92                   144                     444                  650

Average Price                          $264,452        $266,255            $275,262         $271,922

Avg. Days on Market                133                  123                     141                  137

Moore County Condos

# Units Sold                                19                    28                       106                125            

Average Price                       $227,678          $167,271            $205,035        $170,216

Avg. Days on Market               183                  122                       169                135

Source: Pinehurst-Southern Pines MLS as of 6/30/08; data includes all properties listed in Pinehurst-Southern Pines MLS including some located outside of Moore County.

Below you’ll find sales statistics for Jan.-Feb. of 2008 vs. the same period prior year. It seems our entire market is down significantly in volume of sales. The decline is more significant than the calendar year ’08 vs. ’07 stats (see earlier blog). The data also shows a more significant decline in single family home average sold prices. However, we continue to see an increase in average sales price of condos, and Pinehurst single family average sold prices are holding firm.  Data from the Pinehurst-Southern Pines MLS as of March 5, 2008.

Pinehurst Sales

                                    1/1/08 to 2/29/08         1/1/07 to 2/28/07

Single Family

# Units Sold                            38                                48

Average Price                  $308,000                     $307,000

Condos

# Units Sold                            7                                 20

Average Price                  $214,000                     $144,000

Moore County Sales

Single Family

# Units Sold                           119                              171

Average Price                  $252,000                     $271,000

Condos

# Units Sold                            26                                36

Average Price                  $180,000                     $161,000

The following information is year-to-date as of 12/27/07 and 12/27/06 from the Pinehurst-Southern Pines MLS.  Medians used for prices and days on market. 

2007                   # Units Sold           Sale Price              List Price           Days on Mkt.

Single Family            1,203   ↓8%          $230,000                 $238,900                     105

Condos/Townhomes   231   ↓9%          $167,500   ↑12%     $172,000                       92

Lots                               537   ↓30%          $52,000    ↑37%     $55,200                      116

 2006                    # Units Sold            Sale Price            List Price           Days on Mkt.

 Single Family             1,309                     $229,000                $234,900                    105

Condos/Townhomes    254                     $150,000                 $155,000                     88

Lots                                768                        $38,000                  $39,900                     118

Though sales volume has declined in all three categories, prices have remained relatively stable for single family homes and have increased for both condos/townhomes and lots.   The sale vs. list price gap has increased for single family homes by about 50% in ’07.  Overall, this raw sales data suggests the Moore County real estate market is faring much better than many other regions througout the country.