Home > Blogs > Pam Simpson > The Kudzu Vine - Northwest MS Real Estate

Hernando MS Real Estate Market Report

By Pam Simpson

Real Estate Agent with Bob Leigh & Assoc., LLC

October 13, 2008 08:42 AM

Hernando MS Real Estate Market Report - September 2008
By Pam Simpson, Broker-Assoc.
The Kudzu Vine

20 residential properties sold in Hernando MS in September. The average sales price was $200,663. The average days on the market (DOM) for these sold properties was 134 days.

Comparisons for last month / last year:

August 2008 29 sold Avg. $194,717
Sept. 2007 28 sold Avg. $183,241

Northwood Hills saw the most sales activity this month, with the remaining sales spread fairly evenly around Hernando.

Hernando has 273 active residential listings which translates into a 9.3 months supply of inventory. Prices range from $45,000 to $1,500,000. The median price is $229,000.

Hernando's foreclosure listings currently make up 5.1 % of the local market.

For market trend comparision, see last month's Hernando Mississippi Market Report.

___________________________________________________________________________________________

About the author:

Pam Simpson is a Broker-Associate with Bob Leigh & Associates, LLC in Northwest Mississippi.
Copyright© 2008 By Pam Simpson, All Rights Reserved...**Hernando MS Real Estate Market Report**

Disclaimer: All information provided by this author is based on information collected from several sources, which are believed accurate but not guaranteed.

Comments(6)

Comment

Show All Comments

Sort:

Anthony Stokes-Pereira

Better Homes and Gardens Rand Realty - Nanuet, NY

Realtor

Hi Pam;

I thank you for sharing your market area report with us.

Oct 14, 2008 11:35 AM

Pam Simpson

Bob Leigh & Assoc., LLC - Senatobia, MS

GRI, Broker-Assoc.

Anthony - thanks for reading. Consumers in my area are interested in local market activity because all the media is focused on big metropolitan markets.

Oct 16, 2008 05:17 AM

Elizabeth Weintraub Sacramento Broker

Elizabeth Anne Weintraub, Broker - Sacramento, CA

Put 40 years of experience to work for you

Hi Pam: Why are there so many homes on the market when sales have dropped 30%? However, the percentage of foreclosures is extremely low as compared to my area in Sacramento where foreclosures make up more than 50% of closed sales.

Oct 17, 2008 04:17 AM

Elizabeth - Hernando was a very fast growth area in the past 5 years. Home builders were still building fast and furious up until this year. It seemed like every week a new development was going up. Now, a lot of the new homes are sitting there. Foreclosure percentages in Northwest MS have been much lower than in other parts of the country, but they have risen quite a bit in the past 6 months. I suspect that we will see a continued trend upward in foreclosure rates as more ARMs adjust. One reason I do these market reports is because the national (and even local media) seem to only report the statistics you mention, like 50% foreclosure.

Oct 17, 2008 05:21 AM

Eddie Reed

Guaranty Bank and Trust Co. - Hernando, MS

MRMS, CRMS

Great info, Pam! I'll check out your posting everymonth :)

Oct 27, 2008 07:13 AM

Thanks, Eddie. I do a report for Tate County and one for Hernando every month. I also do a Foreclosure Activity Report for Northwest MS about every 6-9 weeks.

Oct 27, 2008 08:10 AM

Hernando MS Real Estate Market Report

Comments(6)

Pam Simpson

Real Estate Resources

Recent Posts

Additional Information