Hernando MS Real Estate Market Report - July 2010

Hernando MS saw a decrease in all of the numbers for the month of July.  The good news was that the average days on the market dropped below 100, the bad news is that the number of homes sold and the average sales price also fell.

There were 27 homes sold in Hernando MS with an average sales price of $170,018 and an average days on the market of 88.  Here are the numbers for last month and July of last year:

June 2010
sales:  30     avg $182,980     avg DOM  157

July 2009
sales:  41     avg $179,405     avg DOM  128

I have broken down these sales by price and by type (regular, foreclosure, short sale):

As shown by the graph above, the two price ranges with the most sales were the $130,000-$150,000 range and the $170,000 to $200,000 range.

Currently, there are 277 homes for sale in Hernando MS:

• lowest price $52,000
• highest price $1,050,000
• median price $189,900

These 277 homes for sale in Hernando MS represent a 9.2 month supply.  That means that if homes continue to sale in Hernando MS at the same pace as in the previous 90 days, it would take 9.2 months to exhaust the current supply.  Approximately 4.3% of the available homes for sale in Hernando MS 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©  2010 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.