Palm Cay is a 55 plus retirement community in the SW corridor area off SR 200 in Ocala Florida. Palm Cay is a great and very affordable Ocala retirement community. Homes here range in size from around 700 sq ft of living area to over 16oo sq ft. All homes are of frame construction with either aluminum or vinyl siding. Prices are as low as $50,000- up to the low $100′s. The houses in Palm Cay are single family style on 1/4 acre lots. Palm Cay is gated with a guard house and has a large clubhouse with a fitness center, craft rooms and full kitchen. Outside there is a swimming pool, tennis courts, shuffleboard, horseshoes and a lounge area. HOA fees are currently a very low $85- per month. HOA fees include 24 hour guard at the gate, common area maintenance, clubhouse and pool, trash pickup and basic cable TV.
Update 1/10/2011 : HOA fees remain at $85- per month. There were 18 sales from 6/1/10 to 12/31/10 from $31,500- (only 864 sq ft home) to $90,000-. Of these 18 sales 6 were foreclosures.
Update 2-28-12 HOA fees remain at $85- month. That’s a great price for a gated community. There were 41 resales in 2011. Prices ranged from $25,500- for a 1056 sq ft foreclosure in need of total renovation up to $80,000- for a 1404 with a new roof, AC and flooring.
Update 2-12-2013 HOA Fees are $87- month. There were 42 resales in 2012 ranging from a 2/1/1 672 sqft foreclosure for $23,655- up to $101,000- for a 2232 sqft custom model. Note that most homes in Palm Cay are between 900-1500 sqft.
Update 6/14 Prices and fees remain stable. This is a nice well kept community if you are looking for a smaller, less expensive home on a 1/4 acre lot.
Statistics used for this blog post are from the Ocala Marion County MLS and are deemed to be accurate at the time this blog was written but are not guaranteed. All information is time sensitive and subject to change without notice.