Ocala Real Estate Market Report May 2016
CLOSED SALES | 612 |
---|---|
MEDIAN SOLD PRICE | $130,000 |
AVERAGE SOLD PRICE | $159,561 |
MEDIAN % ORIGINAL LIST PRICE | 94.9 % |
MEDIAN TIME TO CONTRACT | 59 days |
MEDIAN TIME TO SALE | 95 days |
NEW PENDING SALES | 720 |
NEW LISTINGS | 764 |
ACTIVE LISTINGS | 2863 |
MONTHS SUPPLY OF INVENTORY | 5.5 months |
In May we sold 612 homes. I can’t remember the last time we sold so many homes. June 2015 was close with 606 closings. Looking back at past market reports you can see a trend with closings and prices going up and listings and days on the market going down. At the current rate of sales we are in a neutral market with 5 1/2 months of inventory. Another interesting statistic is that our median home price of $130,000- , although low compared to other states, was up almost 16% compared to June 2016. Another indication of where the market is going. As I have said numerous times in the past there has been very little new construction here since the market crash in 07 and I expect a sellers market as a result.
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