Hernando MS Real Estate Market Report - March 2011

Currently, there are 238 homes available for sale in the Hernando MS area:

• low price $29,900
• high price $995,000
• median price $189,900

These 238 homes mean that Hernando MS has an 11.7 month supply of homes.  Approximately 9.7% of the available homes are foreclosures.

There were 24 homes that sold in Hernando MS in March with an average sales price of $187,024 and an average days on the market of 151.  Here are some comparisons to last month and March of last year:

February 2011
sales:  23     Avg $:  163,200     Avg DOM:  127

March 2010
sales:  27    Avg $:  179,729     Avg DOM:  90

Here is how the Hernando MS March sales break down by type (non-distress, foreclosures and short sales) as well as price range:

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If you are looking for a Realtor® who knows the local Northwest MS real estate market, contact Pam.

About the author:   Pam Simpson is an Assoc. Broker with Bob Leigh & Associates, LLC in Northwest MS.  Copyright©  2011 by Pam Simpson.  All rights reserved.

FOR BUYERS:  Buying a Foreclosure, Finding a Home, Loan Info, Tax Credit, Interest Rates,
First Time Homebuyer Guide

FOR SELLERS:  Pricing, Selling Tips   

LOCAL COMMUNITY INFO:  Tate County Community, Memphis Community, Southaven Community, Hernando Community

MARKET REPORTS:  Foreclosure Report, Hernando MS Report, Olive Branch MS Report, Tate County MS Report

Disclaimer:  All information provided by this author may be  based on information collected from several sources and is believed accurate but not guaranteed.

Hernando MS Real Estate Market Report - February 2011

Hernando MS continues to see its sales volume increasing.  There were 23 sales in February with an average sales price of $163,200 and an average days on the market of 127.

 Here are the comparisons for sales from last month and the same time last year:

January 2011
sales:  15     Avg $155,466     Avg DOM  99

February 2010
sales:  25     Avg $180,968     Avg DOM  74

Sales in Hernando can be broken down into sales by type and sales by price.

Hernando MS sales by type:

Hernando MS sales by price:

Currently, there are 170 residential properties for sale in Hernando MS which represents an 8 month supply of inventory.  Approximately 8.2% of the available homes for sale are foreclosures.

• lowest price $49,900
• highest price $995,000
• median price $199,000

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If you are looking for a Realtor® who knows the local Northwest MS real estate market, contact Pam.

About the author:   Pam Simpson is an Assoc. Broker with Bob Leigh & Associates, LLC in Northwest MS.  Copyright©  2011 by Pam Simpson.  All rights reserved.

FOR BUYERS:  Buying a Foreclosure, Finding a Home, Loan Info, Tax Credit, Interest Rates,
First Time Homebuyer Guide

FOR SELLERS:  Pricing, Selling Tips   

LOCAL COMMUNITY INFO:  Tate County Community, Memphis Community, Southaven Community, Hernando Community

MARKET REPORTS:  Foreclosure Report, Hernando MS Report, Olive Branch MS Report, Tate County MS Report

Disclaimer:  All information provided by this author may be  based on information collected from several sources and is believed accurate but not guaranteed.

Tate County MS Real Estate Market Report - March 2011

This month's market report for Tate County MS graphically illustrates the effect of foreclosures on the average sales price of homes sold.  The number of homes sold in Tate County MS has increased to 10 sold in the month of March.  However, the average sales price dropped to $99,436 and the average days on the market was 127.

Last month, all of the homes sold in Tate County were non-distress sales (no foreclosures).  This month, over 60% of the homes sold were foreclosures and the average sales price reflects that.

Here are the comparisons to last month and the same time last year:

February 2011
sales:  8     Avg $159,843     Avg DOM  138

March 2010
sales:  23     Avg $122,710     Avg DOM  140

Sales by price range:

Sales by Area:

 Currently, there are 190 residential properties for sale in Tate County MS which represents a 24.7 month supply of inventory.

• lowest price $18,000
• highest price $1,965,000
• median price $150,000

Approximately 8.4% of the available inventory are foreclosures.

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If you are looking for a Realtor® who knows the local Northwest MS real estate market, contact Pam.

About the author:   Pam Simpson is an Assoc. Broker with Bob Leigh & Associates, LLC in Northwest MS.  Copyright©  2011 by Pam Simpson.  All rights reserved.

FOR BUYERS:  Buying a Foreclosure, Finding a Home, Loan Info, Tax Credit, Interest Rates,
First Time Homebuyer Guide

FOR SELLERS:  Pricing, Selling Tips   

LOCAL COMMUNITY INFO:  Tate County Community, Memphis Community, Southaven Community, Hernando Community

MARKET REPORTS:  Foreclosure Report, Hernando MS Report, Olive Branch MS Report, Tate County MS Report

Disclaimer:  All information provided by this author may be  based on information collected from several sources and is believed accurate but not guaranteed.

Tate County MS Real Estate Market Report - February 2011

Even though there were only 8 home sales in Tate County MS in the month of February, that is still an increase from the previous month.  The average sales price was $159,843 and the average days on market was 138.  Here are the comparisons to last month and same time last year:

January 2011
sold:  5          Avg $104,380          Avg DOM  94

February 2010
sold:  7         Avg $73,817          Avg DOM  146

Currently, there are 142 homes for sale in Tate County MS.

• low price $32,000
• high price $1,965,000
• median price $155,500

This number of homes for sale represent a 16.3 month supply of inventory.  About 5.6% of the available homes for sale are foreclosures.

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If you are looking for a Realtor® who knows the local Northwest MS real estate market, contact Pam.

About the author:   Pam Simpson is an Assoc. Broker with Bob Leigh & Associates, LLC in Northwest MS.  Copyright©  2011 by Pam Simpson.  All rights reserved.

FOR BUYERS:  Buying a Foreclosure, Finding a Home, Loan Info, Tax Credit, Interest Rates,
First Time Homebuyer Guide

FOR SELLERS:  Pricing, Selling Tips   

LOCAL COMMUNITY INFO:  Tate County Community, Memphis Community, Southaven Community, Hernando Community

MARKET REPORTS:  Foreclosure Report, Hernando MS Report, Olive Branch MS Report, Tate County MS Report

Disclaimer:  All information provided by this author may be  based on information collected from several sources and is believed accurate but not guaranteed.

Olive Branch MS Real Estate Market Report - March 2011

Olive Branch MS is experiencing a steady housing inventory level.  The absorption rate (the amount of time it would take to sell all of the existing homes on the market if they sold at the current rate) remains at a high of 10.8 months.  There are currently 419 homes for sale in Olive Branch MS with a:

• low price $25,000
• high price $699,900
• median price $185,000

There were 48 homes sold in Olive Branch MS during the month of March 2011.  The average sales price was $178,064 and the average days on the market was 139.  Here are comparisions for last month and the same time last year:

February 2011
sales:  38     Avg. sales price $177,438     Avg DOM:  101

March 2010
sales:  69     Avg. sales price $176,947    Avg DOM:  115

The chart above shows that the most active price range in Olive Branch MS was the $100,000-$130,000 range.  This would indicate a market predominately dominated by first-time homebuyers.  Even though foreclosures make up 6.4% of the available homes for sale, they make up 33% of the homes sold in March.

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If you are looking for a Realtor® who knows the local Northwest MS real estate market, contact Pam.

About the author:   Pam Simpson is an Assoc. Broker with Bob Leigh & Associates, LLC in Northwest MS.  Copyright©  2011 by Pam Simpson.  All rights reserved.

FOR BUYERS:  Buying a Foreclosure, Finding a Home, Loan Info, Tax Credit, Interest Rates,
First Time Homebuyer Guide

FOR SELLERS:  Pricing, Selling Tips   

LOCAL COMMUNITY INFO:  Tate County Community, Memphis Community, Southaven Community, Hernando Community

MARKET REPORTS:  Foreclosure Report, Hernando MS Report, Olive Branch MS Report, Tate County MS Report

Disclaimer:  All information provided by this author may be  based on information collected from several sources and is believed accurate but not guaranteed.

Olive Branch Real Estate Market Report - February 2011

Olive Branch MS experienced a rebound in both number of sales and average sales price in February over January of 2011.  Our unusually high amount of winter precipitation may have played a roll in the number of home sales not reaching the number sold in February of last year (40); however, the average sales price saw an increase of over $10,000.  Olive Branch MS had 38 sales in February 2011 with an average sales price of $177,438 and average days on the market of 101.

Here is how the numbers compare to last month and same time last year:

January 2011
sales     30     Avg $159,284     Avg DOM  113

February 2010
sales     40     Avg $162,067     Avg DOM  103

I looked at the 38 sales this month to find out how many were "distressed" sales (foreclosures and short sales) and to see what the most popular price range is:

(I can't remember ever seeing the number of distress sales equal to the number of non-distress sales in one month.)

Currently, there are 409 active listings in Olive Branch MS:

• low price $25,500
• high price $695,000
• median price $184,900

These 409 homes for sale translate into a 10.9 month supply of inventory.  Approximately 6.7% of the available homes for sale in Olive Branch are foreclosures.

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If you are looking for a Realtor® who knows the local Northwest MS real estate market, contact Pam.

About the author:   Pam Simpson is an Assoc. Broker with Bob Leigh & Associates, LLC in Northwest MS.  Copyright©  2011 by Pam Simpson.  All rights reserved.

FOR BUYERS:  Buying a Foreclosure, Finding a Home, Loan Info, Tax Credit, Interest Rates,
First Time Homebuyer Guide

FOR SELLERS:  Pricing, Selling Tips   

LOCAL COMMUNITY INFO:  Tate County Community, Memphis Community, Southaven Community, Hernando Community

MARKET REPORTS:  Foreclosure Report, Hernando MS Report, Olive Branch MS Report, Tate County MS Report

Disclaimer:  All information provided by this author may be  based on information collected from several sources and is believed accurate but not guaranteed.

Olive Branch Real Estate Market Report - January 2011

All three of the markets that I report on (Olive Branch, Hernando and Tate County) lost ground in January.  Olive Branch MS had 30 sales in January with an average sales price of $159,284 and average days on the market of 113.

Here is how the numbers compare to last month and same time last year:

December 2010
sales     45     Avg $164,876     Avg DOM  90

January 2010
sales     41     Avg $180,206     Avg DOM  157

I have analyzed the 30 sales to find out how many were "distressed" sales (foreclosures and short sales) and to see what the most popular price range is:

Currently, there are 422 active listings in Olive Branch MS:

• low price $25,500
• high price $695,000
• median price $172,000

These 422 homes for sale translate into a 10.6 month supply of inventory.  Approximately 5% of the available homes for sale in Olive Branch are foreclosures.

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If you are looking for a Realtor® who knows the local Northwest MS real estate market, contact Pam.

About the author:   Pam Simpson is an Assoc. Broker with Bob Leigh & Associates, LLC in Northwest MS.  Copyright©  2011 by Pam Simpson.  All rights reserved.

FOR BUYERS:  Buying a Foreclosure, Finding a Home, Loan Info, Tax Credit, Interest Rates,
First Time Homebuyer Guide

FOR SELLERS:  Pricing, Selling Tips   

LOCAL COMMUNITY INFO:  Tate County Community, Memphis Community, Southaven Community, Hernando Community

MARKET REPORTS:  Foreclosure Report, Hernando MS Report, Olive Branch MS Report, Tate County MS Report

Disclaimer:  All information provided by this author may be  based on information collected from several sources and is believed accurate but not guaranteed.

Hernando MS Real Estate Market Report - January 2011

Currently, there are 223 homes available for sale in the Hernando MS area:

• low price $40,000
• high price $995,000
• median price $194,900

These 223 homes mean that Hernando MS has a 10.5 month supply of homes.  Approximately 8% of the available homes are foreclosures.

Weather may have played a factor in the downturn in the number of home sales for the month of January.  Hernando MS saw an unusual amount of winter weather precipitation and cold temperatures in January and early February.

There were 15 homes that sold in Hernando MS in January with an average sales price of $155,466 and an average days on the market of 99.  Here are some comparisons to last month and January of last year:

December 2010
sales:  25     Avg $:  168,527     Avg DOM:  200

January 2011
sales:  8     Avg $:  205,800     Avg DOM:  84

Here is how the Hernando MS January sales break down by type (non-distress, foreclosures and short sales) as well as price range:

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If you are looking for a Realtor® who knows the local Northwest MS real estate market, contact Pam.

About the author:   Pam Simpson is an Assoc. Broker with Bob Leigh & Associates, LLC in Northwest MS.  Copyright©  2011 by Pam Simpson.  All rights reserved.

FOR BUYERS:  Buying a Foreclosure, Finding a Home, Loan Info, Tax Credit, Interest Rates,
First Time Homebuyer Guide

FOR SELLERS:  Pricing, Selling Tips   

LOCAL COMMUNITY INFO:  Tate County Community, Memphis Community, Southaven Community, Hernando Community

MARKET REPORTS:  Foreclosure Report, Hernando MS Report, Olive Branch MS Report, Tate County MS Report

Disclaimer:  All information provided by this author may be  based on information collected from several sources and is believed accurate but not guaranteed.

Tate County MS Real Estate Market Report - January 2011

After seeing a slight increase in sales for December, Tate County experienced a sharp decline in both the volume of home sales as well as the average sales price for January.

There were only 5 home sales for the month of January with an average sales price of $104,380 and an average days on the market of 94.  Here is the comparisons to last month and January of last year:

December 2010
sales:  13     Avg $150,630     Avg DOM:  109

January 2010
sales:  10     Avg $129,240     Avg DOM:  163

The city of Senatobia MS had the most sales in January:

There are 189 homes for sale in Tate County MS:

• low price $32,000
• high price $1,965,000
• median price $150,000

Because there are so many homes for sale in Tate County right now and due to the very low sales volume, we have a 23 month supply of homes.  Approximately 8% of the homes for sale in Tate County MS are foreclosures.

*************************************************************************************

If you are looking for a Realtor® who knows the local Northwest MS real estate market, contact Pam.

About the author:   Pam Simpson is an Assoc. Broker with Bob Leigh & Associates, LLC in Northwest MS.  Copyright©  2011 by Pam Simpson.  All rights reserved.

FOR BUYERS:  Buying a Foreclosure, Finding a Home, Loan Info, Tax Credit, Interest Rates,
First Time Homebuyer Guide

FOR SELLERS:  Pricing, Selling Tips   

LOCAL COMMUNITY INFO:  Tate County Community, Memphis Community, Southaven Community, Hernando Community

MARKET REPORTS:  Foreclosure Report, Hernando MS Report, Olive Branch MS Report, Tate County MS Report

Disclaimer:  All information provided by this author may be  based on information collected from several sources and is believed accurate but not guaranteed.

Olive Branch MS Real Estate Market Report - December 2010

 Currently, there are 415 homes for sale in Olive Branch MS.

• Low list price $31,500
• High list price $695,000
• Median list price $179,900

Based on the sales figures for the last quarter of 2010, there is a 9.4 month supply of homes for sale in Olive Branch MS.  Unlike Hernando MS with rather steady rates, absorption rates for Olive Branch have been a roller coaster.  Foreclosures make up about 9% of the available homes for sale.

December sales up slightly from the previous month in Olive Branch MS to 45 homes with an average sales price of $164,876 and an average days on the market of 90. 

Here are comparisons to last month and December of last year:

Nov 2010
sales:  44          Avg $167,621          Avg DOM  68

Dec 2009
sales:  48          Avg $173,639          Avg DOM  131

These next charts show which price range was the most popular in December 2010 and what percentage of the home sales in December were distressed vs. non-distressed properties.

Since I have been comiling these statistics for a number of years, I am able to chart home sales and average home prices over time.  This next chart shows this data over a 4-year period:

There has been a steady decline in the number of homes sold each year; however, it appers the average sales price is leveling off.   

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If you are looking for a Realtor® who knows the local Northwest MS real estate market, contact Pam.

About the author:   Pam Simpson is an Assoc. Broker with Bob Leigh & Associates, LLC in Northwest MS.  Copyright©  2011 by Pam Simpson.  All rights reserved.

FOR BUYERS:  Buying a Foreclosure, Finding a Home, Loan Info, Tax Credit, Interest Rates,
First Time Homebuyer Guide

FOR SELLERS:  Pricing, Selling Tips   

LOCAL COMMUNITY INFO:  Tate County Community, Memphis Community, Southaven Community, Hernando Community

MARKET REPORTS:  Foreclosure Report, Hernando MS Report, Olive Branch MS Report, Tate County MS Report

Disclaimer:  All information provided by this author may be  based on information collected from several sources and is believed accurate but not guaranteed.