Olive Branch, MS

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.

Olive Branch Real Estate Market Report - February 2011

Olive Branch MS experienced a rebound in both number of sales and average sales price in February over January of 2011. Our unusually high amount of winter precipitation may have played a roll in the number of home sales not reaching the number sold in February of last year (40); however, the average sales price saw an increase of over $10,000. Olive Branch MS had 38 sales in February 2011 with an average sales price of $177,438 and average days on the market of 101.

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

January 2011
sales 30 Avg $159,284 Avg DOM 113

February 2010
sales 40 Avg $162,067 Avg DOM 103

I looked at the 38 sales this month to find out how many were "distressed" sales (foreclosures and short sales) and to see what the most popular price range is:

(I can't remember ever seeing the number of distress sales equal to the number of non-distress sales in one month.)

Currently, there are 409 active listings in Olive Branch MS:

• low price $25,500
• high price $695,000
• median price $184,900

These 409 homes for sale translate into a 10.9 month supply of inventory. Approximately 6.7% of the available homes for sale in Olive Branch are foreclosures.

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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.

Olive Branch Real Estate Market Report - January 2011

All three of the markets that I report on (Olive Branch, Hernando and Tate County) lost ground in January. Olive Branch MS had 30 sales in January with an average sales price of $159,284 and average days on the market of 113.

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

December 2010
sales 45 Avg $164,876 Avg DOM 90

January 2010
sales 41 Avg $180,206 Avg DOM 157

I have analyzed the 30 sales to find out how many were "distressed" sales (foreclosures and short sales) and to see what the most popular price range is:

Currently, there are 422 active listings in Olive Branch MS:

• low price $25,500
• high price $695,000
• median price $172,000

These 422 homes for sale translate into a 10.6 month supply of inventory. Approximately 5% of the available homes for sale in Olive Branch are foreclosures.

__________________________________________________________________________________________________

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.

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.

Olive Branch MS Real Estate Market Report - November 2010

Currently, there are 450 homes for sale in Olive Branch MS which represents a 10.6 month supply.

• low price $31,500
• high price $695,000
• median price $179,500

About 7.3 % of the homes for sale in Olive Branch are foreclosures.

There were 44 homes that sold in November (same number as the previous month). The average sales price was $167,621 and the average days on the market was 68. Here are the comparisons to last month and same time last year:

October 2010
sold: 44 Avg $178,924 Avg DOM 86

November 2009
sold: 68 Avg $160,639 Avg DOM 142

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

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.