Whether you are buying or selling a home, a successful outcome will be determined by your ability to accurately gauge your position in the market. To accomplish that you need three things: reliable information, perspective and an advisor you can trust to provide both.
THE Gail Spada TEAM analyzes data and identifies market trends that help you determine when to be in the market. In 2011, the forecast for buyers is very optimistic. Our advice for sellers is to price your property realistically.
The information on this page is updated monthly. It will keep you abreast of what is happening in the Hernando County real estate market, based on data compiled from the Hernando Multiple Listing Service (MLS).
We also instruct our customers about how to interpret “absorption rates,” which compares the number of homes sold – or “absorbed” – to the number of homes available for sale on the market. It is one of the most relevant and useful statistics for both buyers and sellers to objectively establish market trends.
Take a look at these charts and review them regularly. This service is another example of how THE Gail Spada TEAM generously offers our customers insight into the increasingly complicated real estate market. Always remember, when you’re with us …
…it’s all about YOU!
| Market Trends | 2009 | 2010 | 2011 |
|---|---|---|---|
| Sales Volume | $299,656,586 | $285,781,537 | $263,281,338 |
| Number of Sales/Month | 2,670 (233/month) | 2,751 (229/month) | 2,795 (233/month) |
| Average Listing Price | $120,586 | $111,558 | $102,086 |
| Average Sale Price | $112,231 | $103,883 | $94,197 |
| List/Sale Ratio | 93% | 93% | 92% |
| Average DOM | 125 | 116 | 118 |
| Absorption Rate | 7.2% | 8.8% | 12% |
| 2011 Month | Monthly Sold Homes | # of Homes Available | Absorption Rates | Translate Please! |
|---|---|---|---|---|
| January | 185 | 2460 | 8% | Out of 100 Homes, ONLY 8 SOLD! 92 Homes DID NOT SELL |
| February | 203 | 2392 | 8% | Out of 100 Homes, ONLY 8 SOLD! 92 Homes DID NOT SELL |
| March | 282 | 2350 | 12% | Out of 100 Homes, ONLY 12 SOLD! 88 Homes DID NOT SELL |
| April | 265 | 2254 | 12% | Out of 100 Homes, ONLY 12 SOLD! 88 Homes DID NOT SELL |
| May | 262 | 2055 | 13% | Out of 100 Homes, ONLY 13 SOLD! 87 Homes DID NOT SELL |
| June | 247 | 2137 | 12% | Out of 100 Homes, ONLY 12 SOLD! 88 Homes DID NOT SELL |
| July | 211 | 1998 | 11% | Out of 100 Homes, ONLY 11 SOLD! 89 Homes DID NOT SELL |
| August | 214 | 1983 | 11% | Out of 100 Homes, ONLY 11 SOLD! 89 Homes DID NOT SELL |
| September | 203 | 1964 | 10% | Out of 100 Homes, ONLY 10 SOLD! 90 Homes DID NOT SELL |
| October | 207 | 1978 | 11% | Out of 100 Homes, ONLY 11 SOLD! 89 Homes DID NOT SELL |
| November | 190 | 1990 | 10% | Out of 100 Homes, ONLY 10 SOLD! 90 Homes DID NOT SELL |
| December | 242 | 1980 | 12% | Out of 100 Homes, ONLY 12 SOLD! 88 Homes DID NOT SELL |
| 2010 Month | Monthly Sold Homes | # of Homes Available | Absorption Rates | Translate Please! |
|---|---|---|---|---|
| January | 170 | 2424 | 7% | Out of 100 Homes, ONLY 7 SOLD! 93 Homes DID NOT SELL |
| February | 214 | 2431 | 9% | Out of 100 Homes, ONLY 9 SOLD! 91 Homes DID NOT SELL |
| March | 255 | 2397 | 11% | Out of 100 Homes, ONLY 11 SOLD! 89 Homes DID NOT SELL |
| April | 308 | 2373 | 13% | Out of 100 Homes, ONLY 12 SOLD! 88 Homes DID NOT SELL |
| May | 263 | 2350 | 11% | Out of 100 Homes, ONLY 11 SOLD! 89 Homes DID NOT SELL |
| June | 251 | 2400 | 10% | Out of 100 Homes, ONLY 9 SOLD! 90 Homes DID NOT SELL |
| July | 223 | 2459 | 9% | Out of 100 Homes, ONLY 9 SOLD! 91 Homes DID NOT SELL |
| August | 211 | 2509 | 8% | Out of 100 Homes, ONLY 8 SOLD! 92 Homes DID NOT SELL |
| September | 179 | 2599 | 7% | Out of 100 Homes, ONLY 7 SOLD! 93 Homes DID NOT SELL |
| October | 179 | 2600 | 7% | Out of 100 Homes, ONLY 7 SOLD! 93 Homes DID NOT SELL |
| November | 169 | 2532 | 7% | Out of 100 Homes, ONLY 7 SOLD! 93 Homes DID NOT SELL |
| December | 210 | 2493 | 8% | Out of 100 Homes, ONLY 8 SOLD! 92 Homes DID NOT SELL |
| 2009 Month | Monthly Sold Homes | # of Homes Available | Absorption Rates | Translate Please! |
|---|---|---|---|---|
| January | 126 | 3150 | 4% | Out of 100 Homes, ONLY 4 SOLD! 96 Homes DID NOT SELL |
| February | 143 | 3119 | 5% | Out of 100 Homes, ONLY 5 SOLD! 95 Homes DID NOT SELL |
| March | 197 | 3022 | 7% | Out of 100 Homes, ONLY 7 SOLD! 93 Homes DID NOT SELL |
| April | 188 | 2920 | 6% | Out of 100 Homes, ONLY 6 SOLD! 94 Homes DID NOT SELL |
| May | 208 | 2797 | 7% | Out of 100 Homes, ONLY 7 SOLD! 93 Homes DID NOT SELL |
| June | 215 | 2734 | 8% | Out of 100 Homes, ONLY 8 SOLD! 92 Homes DID NOT SELL |
| July | 224 | 2681 | 8% | Out of 100 Homes, ONLY 8 SOLD! 92 Homes DID NOT SELL |
| August | 197 | 2647 | 7% | Out of 100 Homes, ONLY 7 SOLD! 93 Homes DID NOT SELL |
| September | 213 | 2607 | 8% | Out of 100 Homes, ONLY 8 SOLD! 92 Homes DID NOT SELL |
| October | 211 | 2518 | 8% | Out of 100 Homes, ONLY 8 SOLD! 92 Homes DID NOT SELL |
| November | 211 | 2504 | 8% | Out of 100 Homes, ONLY 8 SOLD! 92 Homes DID NOT SELL |
| December | 267 | 2527 | 11% | Out of 100 Homes, ONLY 11 SOLD! 89 Homes DID NOT SELL |
