Hernando County Real Estate Market Report: August 2009

Hernando County Real Estate Market Report: August 2009

The number of Homes for Sale in Hernando County has again decreased. Closed home sales remained stable with just one less sold than in July. The number of homes under contract, either with contingency or pending contracts, increased considerably over last month. Both median and average prices decreased.

Of the homes sold in August 2009, 15 were short sales and 57 were REO or bank-owned properties, and the remaining 108 sales were "regular" market sales.

The lowest sales price was obtained for an older concrete block fixer upper that was a foreclosure home. The highest price was achieved for a 2-story custom country retreat home with 4542 living square foot in the Brooksville Country Club area.

The most sales transactions took place again in price ranges up to $200,000. Total sales transactions break out as follows:

Up to $99,999: 82

$100,000 - $199,999: 83

$200,000 - $299,999: 10

$300,000 - $399,999: 4

$400,000 - $499,999: 0

$500,000 and above: 1

Hernando County Market Report

1. Homes:

Active Listings: 2301

Sold August 2009: 180 (down one from July 2009)

Price Range: $ 8,500 - $595,000

Median: $101,500

Average: $113,888

Average Days on Market: 134

Currently under Contract: 520

2. Vacant Land

Inventory of Vacant land for sale remained stable. Number of closed transactions nearly quadrupled over July sales. The lowest price of $7,600 was achieved for a 1 acre residential building lot in the Royal Highlands, the highest price was for a 80 acre tract of land that had been listed for $1,200,000.

Active Listings: 1905

Sold August 2009: 15

Price Range: $7,600 - $750,000

Median: $40,000

Currently Under Contract: 23

Of these, 4 are contingency contracts, 19 are pending contracts.

Data derived from Hernando County MLS as of 8/2/09, believed to be accurate but not guaranteed.