Hernando County Local Market Conditions

Hernando County Local Market Conditions

2023 Hernando County MARKET SNAPSHOT – During the last 7 months of 2023, BUYERS experienced an ever-increasing supply of housing inventory, giving them more choices from which to choose. On the flip side, as more housing inventory became available, SELLERS were finding their homes typically spending more time on the market. Additionally, as the number of available homes “FOR SALE” increased, there was a notable drop in “bidding wars” which had been previously very common. Surprisingly, even with the widely forecasted market shift or re-balancing, Hernando County’s  2023  “Annual Average Sale Price” of $341,178 reflected a +4% increase over the same period in 2022. To continually analyze sales data and identify market trends, our TEAM strives to help SELLERS and BUYERS determine when it’s the ideal time to either SELL or BUY a home in Hernando County, Florida. Check out our Hernando County Market Trends and Absorption Rate charts below to keep your “finger on the pulse” of our local market. …we’re all about YOU!

2020-2023 Hernando County Real Estate Yearly Market Trends

Market Trends - Homes*2020202120222023
Sales Volume$934,660,810$1,163,513,025$1,226,792,317$1,188,324,580
Number of Sales/Month4353 (363/month)4438 (370/month)3724 (310/month)3483 (290/month)
Average Listing Price$219,836$263,572$333,302$350,012
Average Sale Price$214,864$262,171$329,428$341,178
List/Sale Ratio98%99.3%98.8%97.5%
Average DOM41192045
Absorption Rate62%139%93%42%

* “Homes” includes single family homes, condos, town homes, villas, modular, and manufactured homes.


2023 Hernando County Real Estate Quarterly Market Trends

Market Trends - Homes*Q1 2023Q2 2023Q3 2023Q4 2023
Sales Volume$234,232,443
$345,143,834$324,856,524269,368,978
Number of Sales Qtr/Month737/246
987/329934/311779/260
Average List Price$327,124
$359,232$356,950$351,054
Average Sale Price$316,129
$349,689$347,812$345,788
List/Sale Ratio97%
97%97%99%
Average DOM46
453937
Absorption Rate32%
58%52%31%
* “Homes” includes single family homes, condos, town homes, villas, modular, and manufactured homes.

2024 Hernando County Real Estate Monthly Absorption Rates

2024
Month
# of Closed
Homes Sales*
# of Fully Available
Home Listings
Absorption
Rates
Translate
Please!
January19292421%- # of Home Sales Decreased compared to Dec 2023
- # of Available Home Listings Increased compared to Dec 2023
February
March
April
May
June
July
August
September
October
November
December

* “Homes” includes single family homes, condos, town homes, villas, modular, and manufactured homes.


2023 Hernando County Real Estate Monthly Absorption Rates

2023
Month
# of Closed
Homes Sales*
# of Fully Available
Home Listings
Absorption
Rates
Translate
Please!
January18983523%- # of Home Sales Decreased compared to Dec 2022
- # of Available Home Listings Decreased compared to Dec 2022
February24280930%- # of Home Sales Increased compared to Jan 2023
- # of Available Home Listings Decreased compared to Jan 2023
March30673342%- # of Home Sales Increased compared to Feb 2023
- # of Available Home Listings Decreased compared to Feb 2023
April27664843%- # of Home Sales Decreased compared to March 2023
- # of Available Home Listings Decreased compared to March 2023
May34957261%- # of Home Sales Increased compared to April 2023
- # of Available Home Listings Decreased compared to April 2022
June35556463%- # of Home Sales Increased compared to May 2023
- # of Available Home Listings Decreased compared to May 2023
July28456550%- # of Home Sales Deceased compared to June 2023
- # of Available Home Listings Increased compared to June 2023
August33358757%- # of Home Sales Increased compared to July 2023
- # of Available Home Listings Increased compared to July 2023
September31265248%- # of Home Sales Decreased compared to August 2023
- # of Available Home Listings Increased compared to August 2023
October28274538%- # of Home Sales Decreased compared to Sept 2023
- # of Available Home Listings Increased compared to Sept 2023
November24490227%- # of Home Sales Decreased compared to October 2023
- # of Available Home Listings Increased compared to October 2023
December24991327%- # of Homes Sales Increased compared to November 2023
- # of Available Home Listings Increased compared to November 2023

* “Homes” includes single family homes, condos, town homes, villas, modular, and manufactured homes.


2022 Hernando County Real Estate Monthly Absorption Rates

2022
Month
# of Closed
Homes Sales*
# of Fully Available
Home Listings
Absorption
Rates
Translate
Please!
January265248107%# of Closed Home Sales DECREASED Compared to December 2021 ...
# of Fully Available Home Listings DECREASED Compared to December 2021 ...
~Seller's Market Continues~
February278190146%# of Closed Home Sales INCREASED Compared to January 2022 ...
# of Fully Available Home Listings DECREASED Compared to January 2022 ...
~Seller's Market Continues~
March397177224%# of Closed Home Sales INCREASED Compared to February 2022 ...
# of Fully Available Home Listings DECREASED Compared to February 2022 ...
~Seller's Market Continues~
April351210167%# of Closed Home Sales DECREASED Compared to March 2022 ...
# of Fully Available Home Listings INCREASED Compared to March 2022 ...
~Seller's Market Continues~
May341264129%# of Closed Home Sales DECREASED Compared to April 2022 ...
# of Fully Available Home Listings INCREASED Compared to April 2022 ...
~Seller's Market Continues with April & May showing signs of market softening~
June348345101%# of Closed Home Sales INCREASED SLIGHTLY Compared to May 2022 ...
# of Fully Available Home Listings INCREASED Compared to May 2022 ...
~Seller's Market Continues with April, May & June showing signs of market softening~
July30255355%
# of Closed Home Sales DECREASED Compared to June 2022 ...
# of Fully Available Home Listings INCREASED Significantly Compared to June 2022 ...
~Clear Indication of Market Softening over the last 3 Months~
August30360750%# of Closed Home Sales SLIGHTLY INCREASED Compared to July 2022 ...
# of Fully Available Home Listings INCREASED Compared to July 2022 ...
~Clear Indication of Market Softening over the last 3 Months~
September25567338%# of Closed Home Sales DECREASED Compared to August 2022 ...
# of Fully Available Home Listings INCREASED Compared to August 2022 ...
~Clear Indication of Market Softening over the last 3 Months~
October31675142%# of Closed Home Sales INCREASED Compared to September 2022 ...
# of Fully Available Home Listings INCREASED Compared to September 2022 ...
November23982029%# of Closed Home Sales DECREASED Compared to October 2022 ...
# of Fully Available Home Listings INCREASED Compared to October 2022 ...
~Continued Indication of Market Softening since May 2022~
December24986230%# of Closed Home Sales INCREASED Compared to November 2022 ...
# of Fully Available Home Listings INCREASED Compared to November 2022 ...
~Continued Indication of Market Re-balancing since May 2022~

* “Homes” includes single family homes, condos, town homes, villas, modular, and manufactured homes.


2021 Hernando County Real Estate Monthly Absorption Rates

2021
Month
# of Closed
Homes Sales*
# of Fully Available
Home Listings
Absorption
Rates
Translate
Please!
January24631579%For every 100 Homes, 79 CLOSED / 21 Did Not
February28029396%
For every 100 Homes, 96 CLOSED / 4 Did Not
March441230192%
# of Closed Home Sales EXCEEDS
# of Fully Available Home Listings!
~Historically-Strong SELLER'S MARKET~
April407205199%
# of Closed Home Sales EXCEEDS
# of Fully Available Home Listings!
~Historically-Strong SELLER'S MARKET~
May359220163%
# of Closed Home Sales EXCEEDS
# of Fully Available Home Listings!
~Historically-Strong SELLER'S MARKET~
June371249149%# of Closed Home Sales EXCEEDS
# of Fully Available Home Listings!
~Historically-Strong SELLER'S MARKET~
July374248151%# of Closed Home Sales EXCEEDS
# of Fully Available Home Listings!
~Historically-Strong SELLER'S MARKET~
August349300116%# of Closed Home Sales DECREASED Compared to July...
# of Fully Available Home Listings INCREASED Compared to July...
~Seller's Market Continues with Slight Correction~
September339309110%# of Closed Home Sales DECREASED Compared to August...
# of Fully Available Home Listings INCREASED Compared to August...
~Seller's Market Continues with Slight Correction~
October368310119%# of Closed Home Sales INCREASED Compared to September...
# of Fully Available Home Listings INCREASED Compared to September...
~Seller's Market Continues~
November380285133%# of Closed Home Sales INCREASED Compared to October...
# of Fully Available Home Listings DECREASED Compared to October...
~Seller's Market Continues to Heat Up Again~
December381266143%# of Closed Home Sales INCREASED Compared to November ...
# of Fully Available Home Listings DECREASED Compared to November ...
~Seller's Market Continues~

* “Homes” includes single family homes, condos, town homes, villas, modular, and manufactured homes.


2020 Hernando County Real Estate Monthly Absorption Rates

2020
Month
Monthly
Sold Homes*
# of Homes
Available
Absorption
Rates
Translate
Please!
January28788732%For every 100 Homes,
32 SOLD / 68 Did Not
February29787334%For every 100 Homes,
34 SOLD / 66 Did Not
March36484243%For every 100 Homes,
43 SOLD / 57 Did Not
April32181639%For every 100 Homes,
39 SOLD / 61 Did Not
May29771042%For every 100 Homes,
42 SOLD / 58 Did Not
June36759062%For every 100 Homes,
62 SOLD / 38 Did Not
July39959168%For every 100 Homes,
68 SOLD / 32 Did Not
August36848177%For every 100 Homes,
77 SOLD / 23 Did Not
September40745490%For every 100 Homes,
90 SOLD / 10 Did Not
October39743292%For every 100 Homes,
92 SOLD / 8 Did Not
November34044477%For every 100 Homes,
77 SOLD / 23 Did Not
December33039983%For every 100 Homes,
83 SOLD / 17 Did Not

* “Homes” includes single family homes, condos, town homes, villas, modular, and manufactured homes.


2019 Hernando County Real Estate Monthly Absorption Rates

2019
Month
Monthly
Sold Homes*
# of Homes
Available
Absorption
Rates
Translate
Please!
January253112323%For every 100 Homes,
23 SOLD / 77 Did Not
February307106529%For every 100 Homes,
29 SOLD / 71 Did Not
March379101038%For every 100 Homes,
38 SOLD / 62 Did Not
April40799641%For every 100 Homes,
41 SOLD / 59 Did Not
May41494744%For every 100 Homes,
44 SOLD / 56 Did Not
June39590444%For every 100 Homes,
44 SOLD / 56 Did Not
July39886946%For every 100 Homes,
46 SOLD / 54 Did Not
August36086642%For every 100 Homes,
42 SOLD / 58 Did Not
September32389136%For every 100 Homes,
36 SOLD / 64 Did Not
October37390541%For every 100 Homes,
41 SOLD / 59 Did Not
November33792636%For every 100 Homes,
36 SOLD / 64 Did Not
December33990937%For every 100 Homes,
37 SOLD / 63 Did Not

* “Homes” includes single family homes, condos, town homes, villas, modular, and manufactured homes.


2018 Hernando County Real Estate Monthly Absorption Rates

2018
Month
Monthly
Sold Homes*
# of Homes
Available
Absorption
Rates
Translate
Please!
January255109623%For every 100 Homes,
23 SOLD / 77 Did Not
February276109025%For every 100 Homes,
25 SOLD / 75 Did Not
March404109737%For every 100 Homes,
37 SOLD / 63 Did Not
April396102739%For every 100 Homes,
39 SOLD / 61 Did Not
May44099544%For every 100 Homes,
44 SOLD / 56 Did Not
June41795944%For every 100 Homes,
44 SOLD / 56 Did Not
July33897535%For every 100 Homes,
35 SOLD / 65 Did Not
August334101033%For every 100 Homes,
33 SOLD / 67 Did Not
September346107232%For every 100 Homes,
32 SOLD / 68 Did Not
October339113330%For every 100 Homes,
30 SOLD / 70 Did Not
November361117031%For every 100 Homes,
31 SOLD / 69 Did Not
December366113832%For every 100 Homes,
32 SOLD / 68 Did Not

* “Homes” includes single family homes, condos, town homes, villas, modular, and manufactured homes.


2017 Hernando County Real Estate Monthly Absorption Rates

2017
Month
Monthly
Sold Homes*
# of Homes
Available
Absorption
Rates
Translate
Please!
January256112123%For every 100 Homes,
23 SOLD / 77 DID NOT
February265116423%For every 100 Homes,
23 SOLD / 77 DID NOT
March3871140
34%
For every 100 Homes,
34 SOLD / 66 DID NOT
April366103835%For every 100 Homes,
35 SOLD / 65 DID NOT
May428101442%For every 100 Homes,
42 SOLD / 58 DID NOT
June37794440%For every 100 Homes,
40 SOLD / 60 DID NOT
July36395038%For every 100 Homes,
38 SOLD / 62 DID NOT
August39395741%For every 100 Homes,
41 SOLD / 59 DID NOT
September26496028%For every 100 Homes,
28 SOLD / 72 DID NOT
October322101132%For every 100 Homes,
32 SOLD / 68 DID NOT
November311104530%For every 100 Homes,
30 SOLD / 70 DID NOT
December357106034%For every 100 Homes,
34 SOLD / 66 DID NOT

* “Homes” includes single family homes, condos, town homes, villas, modular, and manufactured homes.


2016 Hernando County Real Estate Monthly Absorption Rates

2016
Month
Monthly
Sold Homes*
# of Homes
Available
Absorption
Rates
Translate
Please!
January284125523%For every 100 Homes,
23 SOLD / 77 DID NOT
February309126724%For every 100 Homes,
24 SOLD / 76 DID NOT
March390123232%For every 100 Homes,
32 SOLD / 68 DID NOT
April361124229%For every 100 Homes,
29 SOLD / 71 DID NOT
May369116332%For every 100 Homes,
32 SOLD / 68 DID NOT
June389113834%For every 100 Homes,
34 SOLD / 66 DID NOT
July394114035%For every 100 Homes,
35 SOLD / 65 DID NOT
August363114932%For every 100 Homes,
32 SOLD / 68 DID NOT
September369114632%For every 100 Homes,
32 SOLD / 68 DID NOT
October318116427%For every 100 Homes,
27 SOLD / 73 DID NOT
November312117527%For every 100 Homes,
27 SOLD / 73 DID NOT
December337109131%For every 100 Homes,
31 SOLD / 69 DID NOT

* “Homes” includes single family homes, condos, town homes, villas, modular, and manufactured homes.


2015 Hernando County Real Estate Monthly Absorption Rates

2015
Month
Monthly
Sold Homes*
# of Homes
Available
Absorption
Rates
Translate
Please!
January246151816%For every 100 Homes,
16 SOLD / 84 DID NOT
February283156318%For every 100 Homes,
18 SOLD / 82 DID NOT
March348151223%For every 100 Homes,
23 SOLD / 77 DID NOT
April376142026%For every 100 Homes,
26 SOLD / 74 DID NOT
May365133627%For every 100 Homes,
27 SOLD / 73 DID NOT
June402130731%For every 100 Homes,
31 SOLD / 69 DID NOT
July410131931%For every 100 Homes,
31 SOLD / 69 DID NOT
August328127526%For every 100 Homes,
26 SOLD / 74 DID NOT
September380126630%For every 100 Homes,
30 SOLD / 70 DID NOT
October327128625%For every 100 Homes,
25 SOLD / 75 DID NOT
November270126821%For every 100 Homes,
21 SOLD / 79 DID NOT
December314126925%For every 100 Homes,
25 SOLD / 75 DID NOT

* “Homes” includes single family homes, condos, town homes, villas, modular, and manufactured homes.


2014 Hernando County Real Estate Monthly Absorption Rates

2014
Month
Monthly
Sold Homes*
# of Homes
Available
Absorption
Rates
Translate
Please!
January247171214%Out of every 100 Homes,
14 SOLD and 86 DID NOT ...
February246169215%Out of every 100 Homes,
15 SOLD and 85 DID NOT ...
March330165820%Out of every 100 Homes,
20 SOLD and 80 DID NOT....
April343162621%Out of every 100 Homes,
21 SOLD and 79 DID NOT....
May327157621%Out of every 100 Homes,
21 SOLD and 79 DID NOT....
June322156821%Out of every 100 Homes,
21 SOLD and 79 DID NOT....
July288152819%Out of every 100 Homes,
19 SOLD and 81 DID NOT....
August300154019%Out of every 100 Homes,
19 SOLD and 81 DID NOT....
September302156319%Out of every 100 Homes,
19 SOLD and 81 DID NOT....
October341158122%Out of every 100 Homes,
22 SOLD and 78 DID NOT....
November269154417%Out of every 100 Homes,
17 SOLD and 83 DID NOT....
December333155222%Out of every 100 Homes,
22 SOLD and 88 DID NOT....

* “Homes” includes single family homes, condos, town homes, villas, modular, and manufactured homes.


2013 Hernando County Real Estate Monthly Absorption Rates

2013
Month
Monthly
Sold Homes*
# of Homes
Available
Absorption
Rates
Translate
Please!
January238166914%Out of 100 Homes, 14 SOLD
and 86 DID NOT ...
February277163317%Out of 100 Homes, 17 SOLD
and 83 DID NOT ...
March307157520%Out of 100 Homes, 20 SOLD
and 80 DID NOT ...
April335152522%Out of 100 Homes, 22 SOLD
and 78 DID NOT ...
May355147225%Out of 100 Homes, 25 SOLD
and 75 DID NOT ...
June308147321%Out of 100 Homes, 21 SOLD
and 79 DID NOT ...
July350146624%Out of 100 Homes, 24 SOLD
and 76 DID NOT ...
August323146922%Out of 100 Homes, 22 SOLD
and 78 DID NOT ...
September263156017%Out of 100 Homes, 17 SOLD
and 83 DID NOT ...
October310163519%Out of 100 Homes, 19 SOLD
and 81 DID NOT ...
November272172316%Out of 100 Homes, 16 SOLD
and 84 DID NOT ...
December277172916%Out of 100 Homes, 16 SOLD
and 84 DID NOT ...

* “Homes” includes single family homes, condos, town homes, villas, modular, and manufactured homes.


2012 Hernando County Real Estate Monthly Absorption Rates

2012
Month
Monthly
Sold Homes*
# of Homes
Available
Absorption
Rates
Translate
Please!
January17018509%Out of 100 Homes, ONLY 9 SOLD!
91 Homes DID NOT SELL
February220180012%Out of 100 Homes, ONLY 12 SOLD!
88 Homes DID NOT SELL
March260175415%Out of 100 Homes, ONLY 15 SOLD!
85 Homes DID NOT SELL
April254167015%Out of 100 Homes, ONLY 15 SOLD!
85 Homes DID NOT SELL
May282160018%Out of 100 Homes, ONLY 18 SOLD!
82 Homes DID NOT SELL
June252156216%Out of 100 Homes, ONLY 16 SOLD!
84 Homes DID NOT SELL
July218162313%Out of 100 Homes, ONLY 13 SOLD!
87 Homes DID NOT SELL
August227165014%Out of 100 Homes, ONLY 14 SOLD!
86 Homes DID NOT SELL
September234172314%Out of 100 Homes, ONLY 14 SOLD!
86 Homes DID NOT SELL
October246171914%Out of 100 Homes, ONLY 14 SOLD!
86 Homes DID NOT SELL
November281171616%Out of 100 Homes, ONLY 16 SOLD!
84 Homes DID NOT SELL
December286170517%Out of 100 Homes, ONLY 16 SOLD!
83 Homes DID NOT SELL

* “Homes” includes single family homes, condos, town homes, villas, modular, and manufactured homes.


2011 Hernando County Real Estate Monthly Absorption Rates

2011
Month
Monthly
Sold Homes*
# of Homes
Available
Absorption
Rates
Translate
Please!
January18524608%Out of 100 Homes, ONLY 8 SOLD!
92 Homes DID NOT SELL
February20323928%Out of 100 Homes, ONLY 8 SOLD!
92 Homes DID NOT SELL
March282235012%Out of 100 Homes, ONLY 12 SOLD!
88 Homes DID NOT SELL
April265225412%Out of 100 Homes, ONLY 12 SOLD!
88 Homes DID NOT SELL
May262205513%Out of 100 Homes, ONLY 13 SOLD!
87 Homes DID NOT SELL
June247213712%Out of 100 Homes, ONLY 12 SOLD!
88 Homes DID NOT SELL
July2111998
11%Out of 100 Homes, ONLY 11 SOLD!
89 Homes DID NOT SELL
August214198311%Out of 100 Homes, ONLY 11 SOLD!
89 Homes DID NOT SELL
September203196410%Out of 100 Homes, ONLY 10 SOLD!
90 Homes DID NOT SELL
October207197811%Out of 100 Homes, ONLY 11 SOLD!
89 Homes DID NOT SELL
November190199010%Out of 100 Homes, ONLY 10 SOLD!
90 Homes DID NOT SELL
December242198012%Out of 100 Homes, ONLY 12 SOLD!
88 Homes DID NOT SELL

* “Homes” includes single family homes, condos, town homes, villas, modular, and manufactured homes.