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.
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