Ocala Real Estate Market Report May 2016

Market Report
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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