Pinehurst Discovered by High End Retailers

Pinehurst demographics?
I read with curiosity a recent Pilot Newspaper article:

“A California developer unveiled preliminary plans Monday for an upscale outlet center that would be part of a mixed-use development on the north side of

Morganton Road

.
Southern Pines Outlet Center would include 336,800 square feet of retail and restaurant space, and likely be anchored by Nordstrom Rack, Bloomingdale’s Outlet Store, Neiman Marcus Last Call and Saks Off-Fifth Avenue.
We went through your demographics with them. The tenants have already decided as a group that they want to be here.”

Saks, Nordstroms, Neiman Marcus and Bloomingdales want to come to Pinehurst-Southern Pines because of our demographics?

I decided I wanted to see what the demographics  of Pinehurst actually were.   While I was at it I decided it would be helpful to compare Pinehurst with Hilton Head Island and Myrtle Beach.  I choose these two cities as they are often mentioned by retirees and tourists as options to Pinehurst.

                          Pinehurst           Hilton Head      Myrtle Beach
Population             13,120            37,000              27,000
Ave Age                  60                   51                     37
Ave Price Home     280,000          508,000             232,000
Ave Income            60,000            68,000               35,000
Cost of Living Index     90                 98.4                  92.3
Crime Index              53.8                360                    684

One of the first observations is the “small town” nature of Pinehurst.  As a resident, I can attest to this.   You very quickly know and become known to your neighbors and fellow citizens.  Despite the small population Pinehurst benefits greatly from the world class nature of our resort facilities.  The constant inflow of tourists infuses Pinehurst with a vitality and excitement which is palpable.  The balance between the retirement community and tourist community works well to create the charm of the area. 

The magic of Pinehurst is that once you move here you are immediately 20 years younger; note the “average” age is 60.  Yes it is a retirement community, but an active one. 

I was amazed by the differential in housing costs; over $500,000 for Hilton Head versus $280,000 for Pinehurst.  I guess that is the premium you pay for the ocean, but it seems excessive.  

I have always considered Pinehurst an oasis of affluence in the middle of nowhere.   This is illustrated by the income level of $60,000, a level which is 38% greater than the state average and exceeds even Chapel Hill by $12,500.   The great irony is the income level is high yet the housing costs are remarkably low. 

The cost of living index also reflects this irony.  To the surprise of many it is not expensive to live in Pinehurst.   While this may not translate to tourists, the residents enjoy the luxurious facilities and amenities of the area at a very reasonable cost.  Life is good in Pinehurst.

I often tell people that there is no crime in Pinehurst.   I question the value of a “gated” community; who are you trying to keep out?   The low level of crime in the area is amazing.   I have looked into the statistics and discovered that the most rampant crime in the area is “barking dogs”.  Pinehurst is a wonderfully safe place where neighbors know your name and your kid’s names.  You are not anonymous here, like many other cities.  People walk he streets after dark without concern.  

The high-end retailers seem to have discovered Pinehurst.  It is an amazing place to call home.  The ambiance and charm of the community is like no other place on earth.   

Bob Barmore

Weichert, Realtors-Larose & Company

cell 910 528 9536

bob@laroseandcompany.com

http://bbarmore.pinehurstnchomes.com

www.bobbarmore.com