Ocala Real Estate Market Report April 2016

Market Report
CLOSED SALES 539
MEDIAN SOLD PRICE $128,900
AVERAGE SOLD PRICE $159,435
MEDIAN % ORIGINAL LIST PRICE 94.8%
MEDIAN TIME TO CONTRACT 55 days
MEDIAN TIME TO SALE 89 days
NEW PENDING SALES 773
NEW LISTINGS 836
ACTIVE LISTINGS 2988
MONTHS SUPPLY OF INVENTORY 5.8 months

Sales volume for April was good and pretty much the same as March which is always a good month. There are a few things that changed from the previous month and I think they illustrate the direction our Ocala real estate market is going. Median time to contract or days on the market dropped from 72 to 55. Pending home sales or homes under contract went from 695 in march to 773 in April. Active listings dropped from 3283 to 2988. What does this mean ?Inventory is going down and homes are selling faster.

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