Inventory of Homes for Sale in Hernando County has again slightly decreased over the previous month.  However, closed home sales also decreased slightly with seven fewer successfully closed sales than in August.  The number of homes under contract, either with contingency or pending contracts, decreased by 10 properties over last month.  Once again, both median and average prices have decreased.

The lowest sales price was obtained for fixer upper that was a foreclosure home. The highest price was achieved for a 3-story custom pool home located in the waterfront community of Hernando Beach, Florida. 

The most sales transactions took place again in price ranges up to $200,000.  Total sales transactions break out as follows:

Up to $99,999:  92

$100,000 - $199,999: 82

$200,000 - $299,999: 16

$300,000 - $399,999:  1

$400,000 - $499,999: 0

$500,000 and above: 1

Hernando County Market Report

1.  Homes:

Active Listings:  2226

Sold September 2009:  187

Price Range:  $13,000 - $550,000

Median:  $104,900

Average:  $112,522

Average Days on Market:  142

Of the homes sold in September 2009, 23 were short sales and 48 were REO or bank-owned properties, and the remaining 116 sales were "regular" market sales. 

These same numbers expressed in percentages are as follows:  38% of the sold homes in Hernando County, Florida, were distressed sales, whereas 62% of the sold homes in Hernando County were regular sales. 

The overall ratio of average list price to average sales price is 92.7%.

Currently under Contract:  510

Of the homes currently under contract, 218 are with contingency contracts and 292 are pending.

2.  Vacant Land

Inventory of Vacant land for sale in Hernando County, Florida decreased in September, some of which can be attributed to sales and some to expired listings.  Number of closed transactions saw a slight increase over August sales.   

The incredibly low price of $3,000 was achieved for a .28 acre residential building lot in the upscale gated community of Southern Hills Plantation, a beautiful community featuring a challenging golf course designed by Pete Dye.  The highest price was for a  waterfront lot with 110 feet of frontage along the Gulf of Mexico in the waterfront community of Hernando Beach, Florida.

Active Listings:   1863

Sold September 2009:  17

Price Range:  $3,000 - $300,000

Currently Under Contract:  23

Data derived from Hernando County MLS as of 10/2/09, believed to be accurate but not guaranteed.