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Ocala Real Estate Market Report December 2018

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Market Report
CLOSED SALES 504
MEDIAN SOLD PRICE $165,000
AVERAGE SOLD PRICE $194,664
MEDIAN % ORIGINAL LIST PRICE 96.2 %
MEDIAN TIME TO CONTRACT 48 days
MEDIAN TIME TO SALE 92 days
NEW PENDING SALES 428
NEW LISTINGS 506
ACTIVE LISTINGS 2459
MONTHS SUPPLY OF INVENTORY 4.4 months

The Ocala MLS is in a sellers market. It isn’t crazy like every home gets multiple offers or sells above list price but homes in desirable communities, in move in condition that are priced well are selling fast and close to the listing price. In showing homes I keep encountering a situation where I call to make an appointment only to have the listing agent tell me they have an offer and they are just working out the details.

Ocala Real Estate Market Report September 2018

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Market Report
CLOSED SALES 528
MEDIAN SOLD PRICE $170,000
AVERAGE SOLD PRICE $206,627
MEDIAN % ORIGINAL LIST PRICE 96.2 %
MEDIAN TIME TO CONTRACT 46 days
MEDIAN TIME TO SALE 93 days
NEW PENDING SALES 584
NEW LISTINGS 777
ACTIVE LISTINGS 2607
MONTHS SUPPLY OF INVENTORY 4.6 months

Homes sales in the Ocala Marion County area are strong. We are in a sellers market. I personally am not seeing a lot of multiple offers but the average days to contract is only 46. I have read that in other parts of the country they expect sales to level off. I don’t expect that in Ocala. In 2008 when the real estate market crashed resales fell below the cost to build new and builders stopped building. Building didn’t really pick up until a few years ago. That left Ocala without additional inventory being added for years.

Ocala Real Estate Market Report July 2018

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Market Report
CLOSED SALES 664
MEDIAN SOLD PRICE $169,900
AVERAGE SOLD PRICE $196,573
MEDIAN % ORIGINAL LIST PRICE 96.8 %
MEDIAN TIME TO CONTRACT 41 days
MEDIAN TIME TO SALE 91 days
NEW PENDING SALES 639
NEW LISTINGS 805
ACTIVE LISTINGS 2473
MONTHS SUPPLY OF INVENTORY 4.4 months

Sales for July 2018 were up 26.5% from July 2017. The median price was up 11.8% over the same month last year. Active Listing are down 5.4%. Current months of inventory is 4.4 months. We are in a total sellers market. The good news is that compared to northern states and south Florida Ocala home prices are much lower. There is a good selection in all but the lower price ranges.

Ocala Real Estate Market Report June 2018

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Market Report
CLOSED SALES 625
MEDIAN SOLD PRICE $165,000
AVERAGE SOLD PRICE $189,545
MEDIAN % ORIGINAL LIST PRICE 96.3 %
MEDIAN TIME TO CONTRACT 50 days
MEDIAN TIME TO SALE 93 days
NEW PENDING SALES 728
NEW LISTINGS 857
ACTIVE LISTINGS 2443
MONTHS SUPPLY OF INVENTORY 4.4 months

Home sales here in Ocala were very good in June. Sales volume was almost exactly the same as 2017 but the medium price was up 7.1 % and the average sale price was up 6.7 %. Active listing are down 6.7 %. The months of inventory is only 4.4 months. This is a fill fledged sellers market. There is still a good selection of homes. We are not seeing a lot of multiple offer situations yet but homes are selling very close to list prices.

Ocala Real Estate Market Report May 2018

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Market Report
CLOSED SALES 709
MEDIAN SOLD PRICE $159,000
AVERAGE SOLD PRICE $204,508
MEDIAN % ORIGINAL LIST PRICE 96.2 %
MEDIAN TIME TO CONTRACT 45 days
MEDIAN TIME TO SALE 92 days
NEW PENDING SALES 686
NEW LISTINGS 949
ACTIVE LISTINGS 2538
MONTHS SUPPLY OF INVENTORY 4.6 months

There were 709 sales in May. That is a huge number for our MLS. Closings were up 11% from May of last year. The average sold price was up 16.5% over this month last year. Fortunately the number of new listings are about the same as a year ago. We are in a full fledged sellers market. Price continue to go up seemingly every month. Well priced homes in move in condition are not staying on the market long. It’s still nothing crazy. I am not seeing a lot of multiple offers yet. There is still a pretty decent number of homes to choose from if you have a reasonable budget. Ocala still looks affordable compared to South Florida and most of the rest of the country.

Ocala Real Estate Market Report April 2018

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Market Report
CLOSED SALES 620
MEDIAN SOLD PRICE $158,000
AVERAGE SOLD PRICE $186,682
MEDIAN % ORIGINAL LIST PRICE 96.5 %
MEDIAN TIME TO CONTRACT 41 days
MEDIAN TIME TO SALE 82 days
NEW PENDING SALES 815
NEW LISTINGS 844
ACTIVE LISTINGS 2493
MONTHS SUPPLY OF INVENTORY 4.6 months

April was a good month for sales. The 620 sold units was up from 541 in 2017 which is a 14.6% increase. The median home price is up 7.8% over the same month last year. Inventory is down and the time from when a listing is taken until it gets an offer is down as well. We are in a sellers market and that is not going to change in the foreseeable future.

Ocala Real Estate Market Report March 2018

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Market Report
CLOSED SALES 587
MEDIAN SOLD PRICE $158,000
AVERAGE SOLD PRICE $191,364
MEDIAN % ORIGINAL LIST PRICE 96.6 %
MEDIAN TIME TO CONTRACT 61 days
MEDIAN TIME TO SALE 109 days
NEW PENDING SALES 740
NEW LISTINGS 926
ACTIVE LISTINGS 2637
MONTHS SUPPLY OF INVENTORY 4.9 months

March sales were higher than the past few months but that is to be expected since the winter is our best sales time. The big think to take away from this month’s report is that the median and average sales price has gone up again. We are in a sellers market and there is no where for prices to go but up.

Ocala Real Estate Market Report February 2018

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Market Report
CLOSED SALES 505
MEDIAN SOLD PRICE $155,000
AVERAGE SOLD PRICE $200,110
MEDIAN % ORIGINAL LIST PRICE 95.4%
MEDIAN TIME TO CONTRACT 56 days
MEDIAN TIME TO SALE 104 days
NEW PENDING SALES 670
NEW LISTINGS 863
ACTIVE LISTINGS 2633
MONTHS SUPPLY OF INVENTORY 4.9 months

Sales were up in February over January as you would expect. Winter and Spring are our best sales seasons here in Ocala. The interesting thing about this month’s report is a huge jump in the Average Sold Price from last month’s $170,143- to $200,110 this month. If you look at past Market Reports you will see statistics fluctuate back and forth but you don’t see big jumps like that very often. We are in a sellers market. Nothing crazy like houses sell in a week or two. Nice homes in desirable communities do go fast and I have seen multiple offer situations. Compared to other parts of the country and South Florida Ocala still looks like a bargain. If you are planning a move buy now price have no where to go but up.

Ocala Real Estate Market Report January 2018

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Market Report
CLOSED SALES 408
MEDIAN SOLD PRICE $145,500
AVERAGE SOLD PRICE $170,143
MEDIAN % ORIGINAL LIST PRICE 95.9 %
MEDIAN TIME TO CONTRACT 51 days
MEDIAN TIME TO SALE 98 days
NEW PENDING SALES 584
NEW LISTINGS 896
ACTIVE LISTINGS 2537
MONTHS SUPPLY OF INVENTORY 4.8 months

Sales for January were down as is to be expected considering sold homes are the result of contracts from the 30-60 previous days which was holiday season. What is important is the prices are going up, homes are selling for almost 96% of the listing price and inventory is at 4.8 months which indicates a sellers market.

Ocala Real Estate Market Report December 2017

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Market Report
CLOSED SALES 544
MEDIAN SOLD PRICE $152,975
AVERAGE SOLD PRICE $179,473
MEDIAN % ORIGINAL LIST PRICE 95.9 %
MEDIAN TIME TO CONTRACT 47 days
MEDIAN TIME TO SALE 85 days
NEW PENDING SALES 445
NEW LISTINGS 567
ACTIVE LISTINGS 2586
MONTHS SUPPLY OF INVENTORY 4.8 months

December 2017 closed sales were down 2.3% from December 2016 but what shows how the Ocala market is really doing is the average and median sold prices. The average sold price is up 11.1 % over this month last year and the median sold price is up 10.1%. This months supply of inventory is down to 4.8 months which is a sellers market.