The dilemma:

• Bombarded by daily news of doom and gloom in the housing market. 
• Yet your favorite neighborhood Realtor is telling you things are not that bad.

Well, the numbers are in! 

Sales of residential property for 2008 compared to sales for 2007 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.

HOME SALES*                              2007                                  2008

Closed Transactions:                    2126                                   2098

Total Sales Volume:                     $367,352,635                      $295,466,827

Sales Price Range:                       $8,000 - $1,862,000            $14,000 - $2,225,000

Median Price:                               $155,000                             $127,500

Average Price:                             $172,791                             $140,833

Average Days on Market:             124                                    128

*Data obtained from Hernando County MLS and believed to be accurate but not guaranteed.

While the numbers certainly have declined here as well, they certainly have not fallen as dramatically as the media wants us to believe.

Although there is a perception of a "slow" market, closed transactions fell only 2% from 2007.  Total Sales Volume in 2008 is 80% of that of the previous year or 20% less than in 2007. 

Together, these two numbers indicate that prices have fallen which can be confirmed by lower median and average prices both of which for 2008 also come in at 82% and 81.5% of 2007 price levels respectively.

Average marketing time in 2008 slightly increased by just 3% illustrating again that properties will obtain offers and sell provided they are priced correctly.

Summarizing the housing sales in Hernando County, these numbers show that sales are not down significantly; a result of lower prices that have attracted buyers into the marketplace.  While encouraging, whether this has brought a halt to a slowdown will be seen in future months.

For 2008 sales market reports in other areas of Hernando County, please read:

Sales in Hernando Beach (a summary) 

Sales in Hernando Beach, Direct Access

Sales in Hernando Beach, Indirect Access, for a summary and sales data for Hernando Beach Central

Sales in Hernando Beach South, A deed-restricted Waterfront Community      

Lot Sales Hernando Beach

Glen Lakes, Country Club Living 

Timber Pines, Country Club and 55+ Living

Silverthorn, Country Club Living

Please contact me for additional information about Hernando County and the many living choices it has to offer!