Hernando County, Florida - Homes Sales Report for 2010
The numbers are in for Hernando County, Florida, home sales in 2010!
As elsewhere in Florida, 2010 home sales in Hernando County were influenced by a number of factors and events.
The beginning of the year started out on an upswing in part because of the first time homebuyers program incentives. Unfortunately, the momentum stalled because of the oil spill disaster in the Gulf of Mexico that caused many buyers to stand back for a bit.
International buyers were affected by some of their own troubled economies but also by natural events. The volcano erruption in Iceland hit close to home for at least this Realtor as some buyers had to postpone trips due to closed airports and scheduled showings had to be cancelled.
But 2010 also saw historic low interest rates that combined with decreasing prices made home buying an attractive option to other investment alternatives.
Hernando County homes sales have been on the rise despite external difficulties and influences. Compared to 2008 and 2009 sales, total number of residental home sales in 2010 increased for the second year.
Total dollar volume decreased and so did average and median sales prices partly because of overall decreasing prices.
How much did home buyers spent in 2010?
The graph below illustrated how these sales break down in price levels. More than 56% of home sales in Hernando County in 2010 took place below the $100,000 mark. There was relatively little home buying activity above the $200,000 mark.
Did Distressed Sales Dominate the Market in Hernando County in 2010?
One would think, the higher sales volume in the lower price ranges can primarily be contributed to distressed property sales such as short sales and foreclosures or REO properties.
While this may be true to an extend, standard sales comprised the majority of all homes sales in Hernando County with 56% while distressed sales made up a total of 44%. About 32% of all sales were foreclosures or bank-owned properties and short sales trail behind with only 12% of all sales.
Graphs depict sales of residential property for 2010 compared to sales for 2009 and 2008 in Hernando County, Florida, including the cities of Brooksville, Weeki Wachee, and the unincorporated communities of Spring Hill, Masaryktown, Istachatta, Hernando Beach, and Pine Island.
Hernando County, Florida - Homes Sales Report for 2010
For additional information about Hernando County, Florida and the many living choices it has to offer, please call or email me.
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