Tate County MS Real Estate Report - May 2010

Tate County MS Real Estate Report - May 2010

Tate County MS saw a slight increase in the number of homes sold in May but the average sales price decreased. There were 10 home sales in Tate County MS with an average sales price of $118,396. The average days on the market went down to 93.

Here are how the numbers compare to last month and the same time last year:

April 2010
sales: 8 Avg $122,862 Avg DOM 129

May 2009
sales: 17 Avg $115,892 Avg DOM 172

The city of Senatobia MS had the most real estate sales activity:

Most of the sales in Tate County MS in May were "arms-length" sales that were not foreclosures or short sales:

The most active price range is the "below $100,000" price point:

Currently, there are 176 available homes for sale in Tate County MS with prices ranging from:

• low price $25,000
• high price $1,965,000
• median price $163,400

With the low number of sales in Tate County MS, we are seeing a longer amount of time for the housing inventory to be absorbed. That, coupled with the fact that 11% of the housing market in Tate County is Foreclosures, is putting a downward pressure on prices.

If you have a home in Tate County MS to sell, contact Pam to discuss your options.
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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© 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, 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.