Olive Branch MS Real Estate Market Report - December 2010

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 2010
sales: 44 Avg $167,621 Avg DOM 68

Dec 2009
sales: 48 Avg $173,639 Avg DOM 131

These next charts show which price range was the most popular in December 2010 and what percentage of the home sales in December were distressed vs. non-distressed properties.

Since I have been comiling these statistics for a number of years, I am able to chart home sales and average home prices over time. This next chart shows this data over a 4-year period:

There has been a steady decline in the number of homes sold each year; however, it appers the average sales price is leveling off.

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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© 2011 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.