House Talk with Silvia Dukes

Hernando County Real Estate Market Report:  March 2009

Real Estate sales numbers are in for March 2009!

The numbers show that things are moving again, slowly but steadily.  Hernando County home sales for March 2009 have again improved over those from the month of February 2009. 

The number of homes currently under contract and scheduled to close also has made a big jump upwards, and homes sold in March were on average less days on the market than those that sold in February.  

Active listings are slowly decreasing although some may be off the market because of expired or withdrawn listing agreements and thus may come back on.  In some subdivisions such as Timber Pines Country Club Community, sales have increased by 30% with average and median sales prices seeing an increase!

We are not out of the woods yet, but we seem to be moving toward the light at the end of the tunnel.

Vacant land sales tripled in March.  However, the majority of these sales were for one acre building lots in the "Royal Highlands" that sold for $7000 each in a relatively short time, all were owned by the same seller.  The highest price was obtained for a waterfront lot in Hernando Beach Central (with indirect access to the Gulf of Mexico via boatlift).  This waterfront lot had been on the market for quite a long time which reflects in the higher average marketing time for March sales.

Hernando County Market Snapshot

1.  Homes:

Active Listings:  2972

Sold March 2009:  172 (approx. 30% increase from February 2009)

Price Range:  $22,000 - $325,000

Median:  $104,500 (increased about 9% from February 2009)

Average:  $112,998 (increased about 5% from February 2009)

Average Days on Market:  113 (decreased 46 days)

Currently under Contract:  473 (a 17% increase from February 2009) 

Of these 135 with Contingency, 338 Pending

2.  Vacant Land, Residential only:

Active Listings:  2473

Sold March 2009:  32

Price Range:  $7,000 - $100,000

Median:  $8,000

Average:  $18,359

Average Days on Market:  162

Data derived from Hernando County MLS as of 4/2/09, believed to be accurate but not guaranteed.

Sold in Spring Hill March 2009:

3/2/2 Contempory Home

Built in 1988, 1931 sf Living

Market Value

Sold for $100,000 Cash

Closed after 33 days on the market.

If you are thinking about buying a home or land for personal or investment use, or you are thinking about selling in Hernando County, Florida, including the communities and neighborhoods of Hernando Beach, Weeki Wachee, Brooksville and Spring Hill, Glen Lakes, Timber Pines, Silverthorn, Seven Hills, Sterling Hill, Pristine Place, and Southern Hills Plantation and you want to work with a local area Realtor who knows these neighborhoods please contact me. 

Let me help you find your place in the Sun!

All content, is the exclusive property of Silvia Dukes, P.A., and may not be used without the expressed written permission of Silvia Dukes, P.A., Tropic Shores Realty, Spring Hill, Florida. All information is believed to be accurate but is not warranted, Copyright 2009.