Posts

Ocala Real Estate Market report October 2020

/in , ,
Market Report
CLOSED SALES 599
MEDIAN SOLD PRICE $190,000
AVERAGE SOLD PRICE $251,749
MEDIAN % ORIGINAL LIST PRICE 98.2%
MEDIAN TIME TO CONTRACT 21 days
MEDIAN TIME TO SALE 77 days
NEW PENDING SALES 671
NEW LISTINGS 747
ACTIVE LISTINGS 1256
MONTHS SUPPLY OF INVENTORY 2.2 months

Sales volume is down a little compared to October 2019. Homes prices are up. Inventory is down. Homes are selling quickly and close to asking price but we are not seeing much for crazy multiple offer situations. Compared to other parts of the country Ocala home prices are a steal.

Ocala Real Estate Market Report September 2020

/in ,

 

Market Report
CLOSED SALES 621
MEDIAN SOLD PRICE $185,000
AVERAGE SOLD PRICE $237,422
MEDIAN % ORIGINAL LIST PRICE 98 %
MEDIAN TIME TO CONTRACT 29 days
MEDIAN TIME TO SALE 84 days
NEW PENDING SALES 676
NEW LISTINGS 663
ACTIVE LISTINGS 1216
MONTHS SUPPLY OF INVENTORY 2.1 months

I get these statistics from our local board of Realtors. They publish last months numbers and the same period a year ago for comparison. You might think with the Covid and a lock down in some states that sales would be way down. Just the opposite ! Sales were up 9.9%. Median sold price up 9.8%. Average sold price up 19%. Median time to contract down from 49 days to 29. Active listings down 52.6% ! We are in a sellers market and Coviid hasn’t slowed it down.

Ocala Real Estate Market Report August 2020

/in , ,

 

Market Report
CLOSED SALES 658
MEDIAN SOLD PRICE $186,000
AVERAGE SOLD PRICE $224,360
MEDIAN % ORIGINAL LIST PRICE 97.5%
MEDIAN TIME TO CONTRACT 39 days
MEDIAN TIME TO SALE 91 days
NEW PENDING SALES 752
NEW LISTINGS 742
ACTIVE LISTINGS 1392
MONTHS SUPPLY OF INVENTORY 2.4 months

You would think that with the Covid 19 and the lock down in northern states home sales would have come to a screeching halt. Just the opposite home sales are great. Inventory is low. We are in a sellers market but still nothing crazy like multiple offers on every other sale. I have found when making appointments to see hoses that if I try to make 10 appointments I’ll find one or two has an offer but the agent hasn’t had time to post it as pending yet. It’s not uncommon for a house to take 3 or 4 months to sell. If you’re looking to buy there is still a good selection of nice homes. Homes prices have gone up a lot in the past few years and there aren’t many low priced homes like there used to be here in Ocala.

Ocala Real Estate Market Report July 2020

/in , ,
Market Report
CLOSED SALES 608
MEDIAN SOLD PRICE $181,500
AVERAGE SOLD PRICE $227,225
MEDIAN % ORIGINAL LIST PRICE 97.4%
MEDIAN TIME TO CONTRACT 49 days
MEDIAN TIME TO SALE 110 days
NEW PENDING SALES 746
NEW LISTINGS 669
ACTIVE LISTINGS 1313
MONTHS SUPPLY OF INVENTORY 2.3 months

July sales were surprisingly good despite the Covid 19 virus. Compared to July 2019 sales were down 11%. However and this is not a good thing, Active listings ere down 50% and new listing are down 27%. Inventory is too low. We are in a sellers market with homes selling close to list price.

Ocala Florida Market Report for June 2020

/in ,

CLOSED SALES

Market Report
CLOSED SALES 534
MEDIAN SOLD PRICE $175,673
AVERAGE SOLD PRICE $213,891
MEDIAN % ORIGINAL LIST PRICE 97.4%
MEDIAN TIME TO CONTRACT 44 days
MEDIAN TIME TO SALE 94 days
NEW PENDING SALES 749
NEW LISTINGS 635
ACTIVE LISTINGS 1444
MONTHS SUPPLY OF INVENTORY 2.5 months

June 2020 was pretty good considering we are dealing with the Covid 19 pandemic. As a point of reference sales were down 22% compared to June 2019 but I’m surprised they are as good as they are. Active listings are down 46% from June 2019. It looks like people aren’t listing their homes possibly due to the pandemic. We are in a real sellers market as a result. Don’t expect prices to go down with such low inventory.

 

 

Ocala Florida Real Estate Market Report May 2020

/in ,
Market Report
CLOSED SALES 463
MEDIAN SOLD PRICE $174,900
AVERAGE SOLD PRICE $202,326
MEDIAN % ORIGINAL LIST PRICE 97.4 %
MEDIAN TIME TO CONTRACT 44 days
MEDIAN TIME TO SALE 98 days
NEW PENDING SALES 740
NEW LISTINGS 658
ACTIVE LISTINGS 1827
MONTHS SUPPLY OF INVENTORY 3.1 months

The May sales report is significant since it shows sales from mid March through early and mid April after things got shut down from the Corona Virus. Real estate in Florida is considered an essential business and we never stopped selling houses sales just dropped off. Sales were down quite a bit and inventory is low too. Prices seem stable.

Ocala Real Estate Market Report April 2020

/in ,
Market Report
CLOSED SALES 665
MEDIAN SOLD PRICE $182,000
AVERAGE SOLD PRICE $232,549
MEDIAN % ORIGINAL LIST PRICE 97.3 %
MEDIAN TIME TO CONTRACT 58 days
MEDIAN TIME TO SALE 110 days
NEW PENDING SALES 568
NEW LISTINGS 666
ACTIVE LISTINGS 1930
MONTHS SUPPLY OF INVENTORY 3.1 months

Sales in April were very good because contracts that closed in April were written in February or very early March. Here in Florida real estate is considered an essential business and did not shut down. Every day I look at the MLS and there are at least couple of dozen homes that go Pending. Pending sales are a better gauge of the market than closed sales. March 2020 Pending sales were 627 and April 568. That is a significant drop. I was just surprised anyone is buying anything at all in March. New listing in March were 697 and April 666. Not a big drop. Inventory is low at only 3.1 months. Low inventory is significant. This is totally different that the real estate crash in 2008. I think there will be a large rebound in sales either this summer or definitely this fall. A lot depends on when northern states open up and people up there can sell their homes.

Ocala Real Estate Market Report March 2020

/in , ,
Market Report
CLOSED SALES 688
MEDIAN SOLD PRICE $181,500
AVERAGE SOLD PRICE $231,511
MEDIAN % ORIGINAL LIST PRICE 97.4%
MEDIAN TIME TO CONTRACT 55 days
MEDIAN TIME TO SALE 106 days
NEW PENDING SALES 627
NEW LISTINGS 697
ACTIVE LISTINGS 2055
MONTHS SUPPLY OF INVENTORY 3.3 months

Homes sales in our Ocala MLS were great in March. That’s because all those contracts were written before the Covid 19 virus started shutting things down mid month. Every day I look at the MLS and every day there are Pending listings. Those are contracts that were negotiated in the previous couple of days. The number per day varies but around 20 a day might be average. Much to my surprise people are still buying houses here.

Ocala Real Estate Market Report February 2020

/in , ,
Market Report
CLOSED SALES 541
MEDIAN SOLD PRICE $172,500
AVERAGE SOLD PRICE $198,688
MEDIAN % ORIGINAL LIST PRICE 96.4 %
MEDIAN TIME TO CONTRACT 55 days
MEDIAN TIME TO SALE 110 days
NEW PENDING SALES 711
NEW LISTINGS 682
ACTIVE LISTINGS 1981
MONTHS SUPPLY OF INVENTORY 3.2 months

This report is for February. Statistics come from the board of Realtors and are always about a month behind. It will take some time to see the impact of the Corona virus. I look at new listings and pending listings every day but have not seen anything drastic yet.

Ocala Real Estate market Report January 2020

/in , ,
Market Report
CLOSED SALES 504
MEDIAN SOLD PRICE $175,000
AVERAGE SOLD PRICE $207,722
MEDIAN % ORIGINAL LIST PRICE 96.2 %
MEDIAN TIME TO CONTRACT 55 days
MEDIAN TIME TO SALE 102 days
NEW PENDING SALES 719
NEW LISTINGS 902
ACTIVE LISTINGS 2279
MONTHS SUPPLY OF INVENTORY 3.7 months

We are in a sellers market. For a balanced market you have to have 5.5 months of inventory. We now have only 3.7 months down from 5.0 in January 2019. Since January 2019 the median home price has gone from $159,000 to $175,000 a 9.4% increase. We are not seeing a lot of multiple offers but it’s getting common to make appointments to see 10 houses and to find 2 have offers but the agent hasn’t had time to mark them pending on the MLS yet. There is still a pretty good selection of homes for sale in the 55+ communities I work in.