Homes for Sale in Hernando County, Florida - Home Sale Market Report for October 2011

Homes for Sale in Hernando County, Florida - Home Sale Market Report for October 2011

Total home sales in Hernando County remained stable in October 2011 compared to the previous month. However, the gains in average home sales prices from September proved to be short lived as average sales prices slipped below the $100,000 for October sales.

Median sales prices also decreased slightly over September, an indication that buyers are concentrating their buying in the lower price ranges.

Inventory of homes for sale in Hernando County increased slightly over September as well as the number of properties currently under contract.

Sales October 2011:

Homes on Market: 1721

Sold October 2011: 191

Range: $11,000 - $500,000

Average Sales Price: $90,679

Median Sales Price: $76,000

Currently Under Contract: 471

To put these numbers into perspective:

The lowest priced property sold for only $11,000 cash. This was a one bedroom, one bath single-wide manufactured home with 344 square feet of living space and located in a mobile home park. This property was listed for $14,900.

The highest priced property sold for $500,000 and was financed through seller financing. This was a three bedroom, two bath pool home. Built in 1990, it is located on approximately 36 acres of farmland including pastures, fish pond, and citrus orchard and included several barns. This property was on the market for $750,000.

Only 33% of October sales were distressed sales, down from 34% the previous month. Of the the homes sold in Hernando County, 128 were regular sales, 38 foreclosure properties sold, 25 properties sold successfully as short sales. The ratio of regular sales to distressed sales did not change significantly although the distribution of short sales and foreclosures did change in favor of more foreclosure properties being sold in October.

Homes for Sale in Hernando County Florida - Home Sales Market Report for October 2011

Data includes sold homes and homes for sale in Hernando County, Florida as derived from Hernando County MLS system as of 11/21/11 and believed to be accurate but not guaranteed.

Are you interested in selling your home in Hernando County? Please contact me to find out how your property compares in today's market.

If you are looking to buy a home in Hernando County including the areas of Spring Hill, Hernando Beach, Timber Pines, and Weeki Wachee, please contact me for available properties that will meet your needs and preferences!