Olive Branch MS Real Estate Market Report - February 2011

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.