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Olive Branch MS Real Estate Market Report - Feb 2009
Olive Branch MS Real Estate Market Report - Feb 2009by Pam SimpsonThe Kudzu Vine
Olive Branch saw 51 sold residential properties for the month of February with an average sales price of $179,403 and an average days on market of 119.  Both the average sales price and the average DOM increased from the previous month.
January 2009     Sold: 29    Avg. $175,280     Avg. DOM  115February 2008    Sold: 59    Avg. $189,728     Avg. DOM  100
The neighborhoods with the most sales activity were Lees Crossing and Robinson Crossing.
There are 617 Active residential listings in Olive Branch which represents a 14.6 month supply of inventory based on a 90-day average for sales.  That means that if no more homes were placed on the market and the rate at which they sold matched the 90-day average, it would take 14.6 months to sell the existing inventory.
The price ranges of the existing Active listings is a low of $37,50 to a high of $1,270,000.  The median price is $209,900.  The percentage of current Hernando MS active listings that are foreclosures (including bank owned and HUDs) is 7.3%.
For comparisons to last months numbers, see the Jan 2009 Olive Branch MS Market Report.___________________________________________________________________________________________________
About the author: Pam Simpson is an Assoc. Broker ... more

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