Home inventory decreased again in Hernando County.  Closed home sale transactions in Hernando County took a small dip in June and were down about 9% over those from May.  Yet, number of homes under contract increased over those in May. 

Of the homes sold in June, 20 were short sales and 64 were REO properties.  Of the homes currently under contract, nearly 60% are either offered through short sales or are bank-owned properties.  Sales price range expanded in both directions; however, median and average prices remained under pressure and decreased over May data.

Inventory of Vacant land has also dropped.  However, after the "land rush" in May, closed transactions decreased by 50%.  Yet, these numbers are still an improvement over those of previous months.  The highest sales price was achieved for a 40-acre property.  Median and average sales prices decreased and the number of vacant land under contract remained stable.

The availability of good building lots is still plentiful and prices have become once again affordable.   Whether for investment purposes or future retirement plans, interested buyers have an opportunity to pick from the best at very attractive prices.

Hernando County Market Snapshot

1.  Homes:

Active Listings:  2370

Sold June 2009:  180

(approx. 9% decrease from May 2009) 

Price Range:  $20,900 - $430,000

Median:  $100,000

Average:  $110,778

Average Days on Market:  113 (decreased 14 days)

Currently under Contract:  490  (2% increase)

Active Listings:   1931

Sold June 2009:  14

Price Range:  $4,000 - $260,000

Median:  $10,000

Average:  $36,314

Average Days on Market:  217

Currently Under Contract:  23

Data derived from Hernando County MLS as of 7/2/09, believed to be accurate but not guaranteed.

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If you are thinking about buying a home or land for personal or investment use, or you are thinking about selling in Hernando County, Florida, including the communities and neighborhoods of Hernando Beach, Weeki Wachee, Pine Island, Brooksville and Spring Hill, Glen Lakes, Timber Pines, Silverthorn, Seven Hills, Sterling Hill, Pristine Place, and Southern Hills Plantation and you want to work with a local area Realtor who knows these neighborhoods please contact me. 

Let me help you find your place in the Sun!

All content, is the exclusive property of Silvia Dukes, P.A., and may not be used without the expressed written permission of Silvia Dukes, P.A., Tropic Shores Realty, Spring Hill, Florida. All information is believed to be accurate but is not warranted, Copyright 2009.