What’s the local market like? So hot it’s burning up all the inventory.
After a typically sluggish December and January, realtors are seeing movement like never before. We asked Nikki Bowman and Jessica Rowan, of Realty World Properties of the Pines, to tell us why.
Q: So, What’s Happening?
RW: We can tell you right now that the housing market is bananas. We got six houses under contract last week. That’s awesome, but for a two-person team, it’s also a lot. We need more houses to sell. There’s not enough inventory for people moving in.
Q: Ok, What’s So Special About This Year?
RW: There’s always a January shift that happens in our town with the military PCS season, and there’s always retirees who are looking for their last home. This year, after all the drama with redistricting, we’ve also seen people literally list their houses to try and get back in the school zone they want to be in.
Q: Where is Everyone Moving?
RW: Pinehurst is doing really well. Village Acres and No. 6 are awesome neighborhoods. Everyone was looking in downtown Southern Pines for a while, but there aren’t many vacant lots or properties left. While that’s still a high-demand area, the market has shifted a bit elsewhere.
Q: What Are Buyers Looking For?
RW: We’d love to say that everyone wants a new home or a home with character, but that’s not the case. There’s a shoe for every foot. We might look at a house and think, “OMG, no one’s going to buy this,” and someone walks in and sees the home of their dreams.
Location is the No. 1 factor. If you find out where you really want to be, you can always negotiate the rest. But, a $250,000 home in Whispering Pines will likely be a total reno — think linoleum and builder-grade cabinets. Meanwhile, $250,000 in Aberdeen will get you new construction.
The $300,000-and-under price point is always our fastest-moving.
Q: So, When Does This Slow Down?
RW: We don’t see that happening! First of all, we’re heading into tax return season, when people have a little extra to put toward a down payment. But, all of the factors we’ve mentioned speak to the growth of our town. We’re seeing people who have lived in Fayetteville their whole lives who want to relocate here — they want the good schools, the community feel. The secret is out on Moore County.
This post was produced in partnership with Realty World Properties of the Pines. Get more information here.