Hernando MS Real Estate Market Report - December 2008
by Pam Simpson
Desoto-Tate County Real Estate

There were only 15 residential properties that sold in Hernando, MS for the month of December.  The average sales price was $187,828 and the average days on the market for those sold properties was 90 days (down 10 days from last month).

Here are the comparisions to last month and December of last year:

November 2008:       14 sold     Avg. $196,762
December 2007:       26 sold     Avg. $185,176

The area that saw the most sales activity in December was Edgewater subdivision.

Hernando has 257 Active residential listings.  Using a 3-month average for sales, this means there is currently a 14.9 month supply of inventory on hand.

The prices of those active listings range from a low of $45,000 to a high of $1,500,000.  The median price is $219,000.  The foreclosure market (as a percentage of the overall market) rose slightly in December to 5.8%.

For market comparisons to last month, see November 2008 Hernando, MS Market Report. 

Since this is the 2008 year-end report, I have drawn up a chart that shows comparisons for 2007 and 2008 from July through December of both years.  There is one chart for number of units sold and other for average sales price.

The number of units sold suffered a significant loss from 2007 to 2008, but the average sales price held reasonably stable.
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FOR BUYERS:  Buying a Foreclosure, Finding a Home, Loan Info, Tax Credit, Interest Rates

FOR SELLERS:  Pricing, Selling Tips   

LOCAL COMMUNITY INFO:  Tate County Community, Memphis Community, Southaven Community

MARKET REPORTS:  Foreclosure Report, Hernando MS Report, Olive Branch MS Report, Tate County MS Report

REALTOR STUFF:  NAR, Real Estate and Media, Real Estate Agents

OTHER:  Rural Life, Breast Cancer Awareness, Angel Food Ministries, Property Rights, Auctions

 Disclaimer:  All information provided by this author may be  based on information collected from several sources and is believed accurate but not guaranteed.

About the author:

 Pam Simpson is an Assoc. Broker with Bob Leigh & Associates, LLC in Northwest Mississippi.
Copywright©  2009 by Pam Simpson.  All rights reserved...***Hernando MS Real Estate Market Report - December 2008***