Ocala Real Estate Talk

Market Report

CLOSED SALES	528
MEDIAN SOLD PRICE	$170,000
AVERAGE SOLD PRICE	$206,627
MEDIAN % ORIGINAL LIST PRICE	96.2 %
MEDIAN TIME TO CONTRACT	46 days
MEDIAN TIME TO SALE	93 days
NEW PENDING SALES	584
NEW LISTINGS	777
ACTIVE LISTINGS	2607
MONTHS SUPPLY OF INVENTORY	4.6 months

Homes sales in the Ocala Marion County area are strong. We are in a sellers market. I personally am not seeing a lot of multiple offers but the average days to contract is only 46. I have read that in other parts of the country they expect sales to level off. I don’t expect that in Ocala. In 2008 when the real estate market crashed resales fell below the cost to build new and builders stopped building. Building didn’t really pick up until a few years ago. That left Ocala without additional inventory being added for years.

Market Report

CLOSED SALES	625
MEDIAN SOLD PRICE	$165,000
AVERAGE SOLD PRICE	$189,545
MEDIAN % ORIGINAL LIST PRICE	96.3 %
MEDIAN TIME TO CONTRACT	50 days
MEDIAN TIME TO SALE	93 days
NEW PENDING SALES	728
NEW LISTINGS	857
ACTIVE LISTINGS	2443
MONTHS SUPPLY OF INVENTORY	4.4 months

Home sales here in Ocala were very good in June. Sales volume was almost exactly the same as 2017 but the medium price was up 7.1 % and the average sale price was up 6.7 %. Active listing are down 6.7 %. The months of inventory is only 4.4 months. This is a fill fledged sellers market. There is still a good selection of homes. We are not seeing a lot of multiple offer situations yet but homes are selling very close to list prices.

Market Report

CLOSED SALES	620
MEDIAN SOLD PRICE	$158,000
AVERAGE SOLD PRICE	$186,682
MEDIAN % ORIGINAL LIST PRICE	96.5 %
MEDIAN TIME TO CONTRACT	41 days
MEDIAN TIME TO SALE	82 days
NEW PENDING SALES	815
NEW LISTINGS	844
ACTIVE LISTINGS	2493
MONTHS SUPPLY OF INVENTORY	4.6 months

April was a good month for sales. The 620 sold units was up from 541 in 2017 which is a 14.6% increase. The median home price is up 7.8% over the same month last year. Inventory is down and the time from when a listing is taken until it gets an offer is down as well. We are in a sellers market and that is not going to change in the foreseeable future.

Market Report

CLOSED SALES	505
MEDIAN SOLD PRICE	$155,000
AVERAGE SOLD PRICE	$200,110
MEDIAN % ORIGINAL LIST PRICE	95.4%
MEDIAN TIME TO CONTRACT	56 days
MEDIAN TIME TO SALE	104 days
NEW PENDING SALES	670
NEW LISTINGS	863
ACTIVE LISTINGS	2633
MONTHS SUPPLY OF INVENTORY	4.9 months

Sales were up in February over January as you would expect. Winter and Spring are our best sales seasons here in Ocala. The interesting thing about this month’s report is a huge jump in the Average Sold Price from last month’s $170,143- to $200,110 this month. If you look at past Market Reports you will see statistics fluctuate back and forth but you don’t see big jumps like that very often. We are in a sellers market. Nothing crazy like houses sell in a week or two. Nice homes in desirable communities do go fast and I have seen multiple offer situations. Compared to other parts of the country and South Florida Ocala still looks like a bargain. If you are planning a move buy now price have no where to go but up.

Market Report

CLOSED SALES	544
MEDIAN SOLD PRICE	$152,975
AVERAGE SOLD PRICE	$179,473
MEDIAN % ORIGINAL LIST PRICE	95.9 %
MEDIAN TIME TO CONTRACT	47 days
MEDIAN TIME TO SALE	85 days
NEW PENDING SALES	445
NEW LISTINGS	567
ACTIVE LISTINGS	2586
MONTHS SUPPLY OF INVENTORY	4.8 months

December 2017 closed sales were down 2.3% from December 2016 but what shows how the Ocala market is really doing is the average and median sold prices. The average sold price is up 11.1 % over this month last year and the median sold price is up 10.1%. This months supply of inventory is down to 4.8 months which is a sellers market.