Olive Branch MS Real Estate Market Report - March 2011

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 2011
sales: 38 Avg. sales price $177,438 Avg DOM: 101

March 2010
sales: 69 Avg. sales price $176,947 Avg DOM: 115

The chart above shows that the most active price range in Olive Branch MS was the $100,000-$130,000 range. This would indicate a market predominately dominated by first-time homebuyers. Even though foreclosures make up 6.4% of the available homes for sale, they make up 33% of the homes sold in March.

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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.