Olive Branch MS Real Estate Market Report - Feb 2009
by Pam Simpson
The 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 115
February 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 with Bob Leigh & Associates, LLC in Northwest MS. Copyright© 2009 by Pam Simpson. All rights reserved...***Olive Branch MS Real Estate Market Report - Feb 2009***
Disclaimer: All information provided by this author may be based on information collected from several sources and is believed accurate but not guaranteed.