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Olive Branch, MS Real Estate News

By Debra Dye, The DyeNamic Homes Team
(Dream Maker Realty)
Are you new to Olive Branch? Have you been here for years, but looking for a new place to eat? There is a restaurant to meet nearly all tastes in Olive Branch now. Of course, if you’ve been around for years, you know how much the town has grown and that we started out with just Dodge’s and Sonic! First, decide what you’re in the mood for. Is it BBQ? Are the kids begging for Mexican? Is it a Japanese meal you want? Maybe it’s date night. Or are you looking for something small and local?Here is a guide to some of the top picks in Restaurants in Olive Branch, Mississippi!BBQ – Here in the south, Barbecue is always one of the first choices to take out clients, cater work events, or just pick up after church on Sunday. Southern Pride BBQ, 7164 Hacks Cross Road, 662-874-5693Ranks highest in t...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
Olive Branch MS Real Estate Market Report - March 2011 Olive Branch MS is experiencing a steady housing inventory level.  The absorption rate (the amount of time it would take to sell all of the existing homes on the market if they sold at the current rate) remains at a high of 10.8 months.  There are currently 419 homes for sale in Olive Branch MS with a: low price $25,000 high price $699,900 median price $185,000 There were 48 homes sold in Olive Branch MS during the month of March 2011.  The average sales price was $178,064 and the average days on the market was 139.  Here are comparisions for last month and the same time last year: February 2011sales:  38     Avg. sales price $177,438     Avg DOM:  101 March 2010sales:  69     Avg. sales price $176,947    Avg DOM:  115 The chart abo...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
Olive Branch Real Estate Market Report - February 2011 Olive Branch MS experienced a rebound in both number of sales and average sales price in February over January of 2011.  Our unusually high amount of winter precipitation may have played a roll in the number of home sales not reaching the number sold in February of last year (40); however, the average sales price saw an increase of over $10,000.  Olive Branch MS had 38 sales in February 2011 with an average sales price of $177,438 and average days on the market of 101. Here is how the numbers compare to last month and same time last year: January 2011sales     30     Avg $159,284     Avg DOM  113 February 2010sales     40     Avg $162,067     Avg DOM  103 I looked at the 38 sales this month to find out how many were "distressed" sal...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
Olive Branch Real Estate Market Report - January 2011 All three of the markets that I report on (Olive Branch, Hernando and Tate County) lost ground in January.  Olive Branch MS had 30 sales in January with an average sales price of $159,284 and average days on the market of 113. Here is how the numbers compare to last month and same time last year: December 2010sales     45     Avg $164,876     Avg DOM  90 January 2010sales     41     Avg $180,206     Avg DOM  157 I have analyzed the 30 sales to find out how many were "distressed" sales (foreclosures and short sales) and to see what the most popular price range is: Currently, there are 422 active listings in Olive Branch MS: low price $25,500 high price $695,000 median price $172,000 These 422 homes for sale translate into a 10.6 month...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
Olive Branch MS Real Estate Market Report - December 2010  Currently, there are 415 homes for sale in Olive Branch MS. Low list price $31,500 High list price $695,000 Median list price $179,900 Based on the sales figures for the last quarter of 2010, there is a 9.4 month supply of homes for sale in Olive Branch MS.  Unlike Hernando MS with rather steady rates, absorption rates for Olive Branch have been a roller coaster.  Foreclosures make up about 9% of the available homes for sale.   December sales up slightly from the previous month in Olive Branch MS to 45 homes with an average sales price of $164,876 and an average days on the market of 90.  Here are comparisons to last month and December of last year: Nov 2010sales:  44          Avg $167,621          Avg DOM  68 Dec 2009sales:  48...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
Olive Branch MS Real Estate Market Report - November 2010 Currently, there are 450 homes for sale in Olive Branch MS which represents a 10.6 month supply.  low price $31,500 high price $695,000 median price $179,500 About 7.3 % of the homes for sale in Olive Branch are foreclosures. There were 44 homes that sold in November (same number as the previous month).  The average sales price was $167,621 and the average days on the market was 68.  Here are the comparisons to last month and same time last year: October 2010sold:  44          Avg $178,924          Avg DOM  86 November 2009sold:  68          Avg $160,639          Avg DOM  142 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ If you are looking for a Realtor® who knows the local Northwest MS real estate m...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
Olive Branch MS Real Estate Sales Report - October 2010 Olive Branch MS currently has 481 homes for sale. low price $20,500 high price $695,000 median price $180,000 Foreclosures make up 8.5% of the available homes for sale in Olive Branch MS. Using an average of the number of sales from the past 3 months, Olive Branch MS has a 10.2 month supply of homes for sale.  As you can see from the graph below, that is the highest level since March. There were 44 homes that sold in Olive Branch MS in the month of October.  The average sales price was $178,924 and the average days on the market (for the sold homes) was 86.  Here are some comparisons for last month and same time last year: Sept. 2010sold:  39     Avg sales price:  $186,657     Avg DOM:  97 Oct. 2009sold:  73     Avg sales price:  $...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
Olive Branch MS Real Estate Market Report - September 2010 Olive Branch MS is still experiencing an increase in the housing inventory levels.  There are currently 492 homes for sale in Olive Branch MS with a: low price $25,000 high price $695,000 median price $189,900 There were 39 homes sold in Olive Branch MS during the month of September 2010.  This is a 30% drop in sales from the previous month.  The average sales price was up to $186,657 and the average days on the market was 97.  Here are comparisions for last month and the same time last year: August 2010sales:  59     Avg. sales price $179,221     Avg DOM:  90 Sept. 2009sales:  74     Avg. sales price $181,488     Avg DOM:  130 The chart above shows that the most active price range in Olive Branch MS was the $100,000-$130,000 ra...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
Olive Branch MS Real Estate Market Report - August 2010 Olive Branch MS is experiencing an increase in the housing inventory levels.  There are currently 464 homes for sale in Olive Branch MS with a: low price $25,000 high price $695,000 median price $189,900 There were 59 homes sold in Olive Branch MS during the month of August 2010.  The average sales price was $179,221 and the average days on the market was 90.  Here are comparisions for last month and the same time last year: July 2010sales:  55     Avg. sales price $190,573     Avg DOM:  155 August 2009sales:  62     Avg. sales price $180,524     Avg DOM:  145 The chart above shows that the most active price range in Olive Branch MS was the $200,000-$240,000 range.  Even though foreclosures make up 7.7% of the available homes for s...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
Olive Branch MS HUD Home in Fox Creek  ******** S O L D ****************** Call or email for a list of HUD homes and foreclosures! Looking for a large home in Center Hill School district without spending a large amount?  This HUD Home in Fox Creek Subdivision has 4 bedrooms, 3 bathrooms and is listed at over 3,000 square feet.  Priced at only $123,500, this home is offered with FHA financing with an escrow for repairs.   The deadline to place a bid on this HUD HOME in Fox Creek is 9/12/10.  You must be pre-qualified for a loan in order to place a bid. For more information on HUD Homes, see MS HOME INFO HUD HOME FAQ.     ########################################################################## If you are looking for a Realtor® who knows the local Northwest MS real estate market, contact...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
HUD Home in Magnolia Lakes Neighborhood of Olive Branch MS ****************S O L D ******************* Call or email for a list of HUD homes and foreclosures! Looking for a 3 bedroom, 2 bath home in Olive Branch MS but don't have a lot of $dough$ to spend?  How about this HUD Home priced at $53,000. With a little elbow grease and TLC, this could be a your next home.  This home, near Olive Branch Old Towne, is offered with FHA financing with an escrow for repairs.        The deadline to bid on this home is 9/12/10.    In order to be eligible to place a bid on this home, you must be pre-qualified for the loan.                                 For more information about HUD Homes, see MS HOME INFO HUD HOME FAQ.     ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ I...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
Olive Branch MS HUD Home in Creekside Subdivision******s o l d**** Call or email for a list of HUD homes and foreclosures! Yes...this is a HUD Home for sale in Creekside Subdivision in Olive Branch MS.  This 4 bedroom, 2 bath home in award winning Lewisburg School District is priced at $209,000.  This stunning home sits on 3/4 acre lot.  Built in 2008, this home looks barely lived in.  From the brick and stacked stone arched entrance to the nail-down hardwood floors and formal dining room with treyed ceilings, you will love the attention to detail in this home.         Kitchen has granite countertops, "stair-step" cabinets and stainless oven and dishwasher.                                 Both the master and hall bath are equipped with beautiful vanities.  Master bath has double vanitie...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
Olive Branch MS Real Estate Market Report - July 2010 The numbers for the real estate market in Olive Branch MS are mixed.  While there was a decrease in the number of homes sold in July, the average sales price increased.  There were 55 residential sales in Olive Branch MS with an average sales price of $190,573 and an average days on the market of 155. Here are the numbers for last month and July of last year: June 2010sales:  67       avg $175,126     avg DOM  105 July 2009sales:  64     avg $164,865     avg DOM  124 I have broken down the July home sales in Olive Branch MS by price and by type of sale (regular, foreclosure, or short sale): I see more short sales actually making it to closing than in previous months. Currently, there are 487 homes for sale in Olive Branch as indicate...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
Olive Branch MS Real Estate Market Report - June 2010 Olive Branch MS saw a slight decline in both number of homes sold and average sales price for the month of June compared with the previous month.  There were 67 homes sold in June with an average sales price of $175,126 and an average days on the market of 105. Here is a comparison to the same numbers from last month and one year ago: May 2010sales:  77     avg $177,375     avg DOM  123 June 2009sales:  85     avg $178,743     avg DOM  126 Here is how the June 2010 real estate sales for Olive Branch MS break down by type (foreclosure, short sale, regular) and by price range: Currently, there are 490 residential units for sale in Olive Branch MS: low price $69,900 high price $719,900 median price $199,900 The inventory of available ho...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
Olive Branch MS Real Estate Report - May 2010 Olive Branch MS saw a very slight decrease in the number of homes sold for the month of May but saw a slight increase in the average sales price.  There were 77 homes that sold in May with an average sales price of $177,375.  The average days on the market was 123. Here is how the numbers compare to last month and a last May: April 2010sales:  79          Avg $176,988          Avg DOM  130 May 2009sales:  73          Avg $172,322          Avg DOM 150 Those 77 home sales can be broken down by type of sales and sales price: Currently, there are 482 homes for sale in Olive Branch MS: lowest price $69,900 highest price $719,900 median price $199,950 Here is a graph showing the decrease in available housing inventory in Olive Branch MS: Approxima...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
Olive Branch MS Real Estate Market Report - April 2010 The volume of Olive Branch MS real estate sales increased to 79 in April with an average sales price of $176,988 and an average days on the market of 130. Here are comparisons to the sales numbers from last month and the same tiime last year: March 2010sales:  63     Avg $180,660     Avg DOM  121 April 2009sales:  55     Avg $174,803     Avg DOM  156 Currently, there are 478 Active residential listings in Olive Branch which represents an 8.2 month supply of homes.  About 5% of these are foreclosures. lowest price $57,150 highest price $734,900 median price $209,900 ********************************************************************************If you are looking for a Realtor® who knows the local Northwest MS real estate market, con...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
Olive Branch MS Real Estate Market Report - March 2010 Olive Branch MS almost doubled their sales over last month.  There were 63 sales in March with an average sales price of $180,660 and an average days on the market of 121. Here is the comparision to last month and same time last year: February 2010sales:  32          Avg. $163,246          Avg DOM  116 March 2009sales:  54          Avg. $179,952          Avg DOM  145 As you can see, distressed sales (foreclosures and short sales) made up about 1/2 of all residential home sales in Olive Branch MS last month.  Homes priced under $130,000 are "flying off the shelves".  As first-time homebuyers scramble to meet the tax credit deadline, we are finding multiple offers on homes in this price range. Currently, there are 445 homes on the mar...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
Olive Branch MS Real Estate Market Report - February 2010 There were 32 residential real estate sales in Olive Branch MS for the month of February with an average sales price of $163,246 and an average days on the market of 116. Here are the comparisons to last month and the same time last year: Jan. 2010sales  37     Avg $182,359   Avg DOM  163 February 2009sales  59     Avg $198,761     Avg DOM  128 Currently, there are 439 homes for sale in Olive Branch MS which represents an 11.5 month supply of inventory.  Foreclosures make up 9.1 % of the available homes for sale. lowest price listing $34,000 highest price listing $995,000 median price $195,990 *************************************************************************************About the author:   Pam Simpson is an Assoc. Broker w...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
Olive Branch MS HUD Home - 6339 Oak Run Dr. W. ***SOLD*** 3 bedroom, 2 bath HUD Home in Magnolia Lakes SubdivisionSplit bedroom plan, storm doors on front and back, large backyard. $70,000 - Offered with FHA insured financing with escrow for repairs. ************************************************************************************* 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, Hern...
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By Pam Simpson, GRI, Broker-Assoc.
(Bob Leigh & Assoc., LLC)
Olive Branch MS HUD Home - 5804 Lancaster ***SOLD***   3 bedroom, 2.5 bath home in Lexington Crossing subdivision. Bonus Room with closetSeparate Dining Room plus eat-in kitchenGas Fireplace $114,500offered with FHA insured financing with escrow for repairs       *************************************************************************************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 ...
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