Tate County MS Real Estate Market Report - July 2010

Tate County MS Real Estate Market Report - July 2010

Tate County MS continues to see a decline in its housing market.  There were 9 residential sales in Tate County MS for the month of July with an average sales price of $92,144 and an average days on the market of 164. 

Here are the comparisons to last month and July of last year:

June 2010:
sales:  14        avg $172,497       avg DOM  152

July 2009:
sales:  18     avg $124,688     avg DOM  235

I expected a big drop in the average sales price.  The sales price for the previous month (June) was inflated due to a sale of a large estate home with acreage.

I have created charts to show the most popular price range and also the type of sales:

For the first time since I have been doing these reports, the number of sales which are foreclosures (bank owned, HUD, etc.) outnumbered the non-distress home sales. 

Currently, there are 188 available homes for sale in Tate County MS which represents a 17 month supply of inventory.  This means that if no more homes came up for sale and homes continue to sale at the same pace as they have for the past 90 days, it would take 17 months to exhaust the current supply.  Approximately 7.4% of the available homes for sale are foreclosures.

Current Tate County MS home prices:

• lowest price $35,000
• highest price $1,965,000
• median price $165,000

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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©  2010 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.