Ocala real estate market report April 2011

Home sales were down from last month but that’s not surprising. March was the biggest month for sales since the market crashed. April is actually a great month in my opinion.

The big news is that inventory seems to be on a steady decline. As of today there are 4178 homes for sales on the Ocala Marion County MLS. That’s a huge decline from the dark days of 07-08 when there were over 7,000 active listings.

If you are waiting for the market to bottom out then this is it. A combination of brisk sales and a sharp decline in inventory are signs of the bottom.

I don’t think prices will go up in the short term. However I do think that there is a huge back log of out of state buyers. When these out of area buyers eventually sell their existing homes, competition may start to drive prices higher. After all the Ocala area has the lowest median home prices in Florida so there is no where to go but up.

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