Everything about Ocala Florida real estate

Ocala Florida real estate market report April 2021

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Market Report
CLOSED SALES 814
MEDIAN SOLD PRICE $215,000
AVERAGE SOLD PRICE $271,884
MEDIAN % ORIGINAL LIST PRICE 100 %
MEDIAN TIME TO CONTRACT 15 days
MEDIAN TIME TO SALE 65 days
NEW PENDING SALES 812
NEW LISTINGS 805
ACTIVE LISTINGS 686
MONTHS SUPPLY OF INVENTORY 1.2 months

April was a huge month for home sales here in Marion County and Ocala. I’m not sure if I can remember a month with so many sales. I admit I am surprised by that high a number. There are very few homes to sell on the MLS. I guess it’s because they are just selling so fast. Homes are selling in 15 days and for 100% of the list price. I assume the 100% is because some homes are selling above list price. You might think as A realtor I would be happy with such booming sales but I’m not. It’s very difficult working with out of state buyers when homes go on and off the market so quickly.

Ocala Florida weather report May 2021

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May is a great month here in Ocala. It’s warm, maybe hot by some people’s standards but dry without the summer humidity. Most days are in the 80’s and nights in the mid to high 60’s. This is the last month of the dry season so we get very little rain. The humidity and afternoon thunderstorms get going the very end of May or the beginning of June.

Ocala Florida Market Report March 2021

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Market Report
CLOSED SALES 628
MEDIAN SOLD PRICE $193,000
AVERAGE SOLD PRICE $253,716
MEDIAN % ORIGINAL LIST PRICE 98.5%
MEDIAN TIME TO CONTRACT 22 days
MEDIAN TIME TO SALE 78 days
NEW PENDING SALES 872
NEW LISTINGS 768
ACTIVE LISTINGS 962
MONTHS SUPPLY OF INVENTORY 1.5 months

We are in a serious sellers market here in Ocala. Prices keep going up and inventory is low. Homes in the lower price ranges are selling very fast. This is a competitive market if you are planning on buying you need a plan to compete with other buyers.

Ocala Florida weather report April 2021

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March was colder than normal this year. April has started out much cooler than normal as well with  the first few days of the month barely making it to 70. April temperatures are normally the mid to high 80’s and the 60’s at night. April is a great month. No humidity yet. You don’t need much heat or AC and you can sleep with the windows open.

Buying in a sellers market

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A few random thoughts about options and potential problem when making an offer in a sellers market.

Cash. Cash offers without a doubt gives the buyer an advantage. In Ocala though cash offers are not that unusual. We see them often. Cash with no contingency other than an inspection can’t be beat.

Contingencies. Contingencies are a disadvantage. An offer with a contingency on the sale of an existing home is the worst. Even before the current sellers market list agents and sellers were nervous about the sale of a buyers home. Finance contingency will lose out to cash every time. A loan with a local lender is usually look on as better than a big national bank.

Inspections. I put this in it’s own category instead of as a contingency. I have heard of buyers in super competitive situations skipping an inspection and I think that is just crazy. Maybe and just maybe if a house was a year or 2 old but even then I think an inspection should be done.

AS IS. An AS IS contract means that you do an inspection but the seller makes no repairs. The buyer can take it or walk away. Some list agents don’t like AS IS because unlike the traditional contract that locks the buyer in unless the repair limit is exceeded, in an AS IS the buyer can walk away during the inspection period. If a seller is open to AS IS it can be an advantage for the buyer.

Sight Unseen. By that I mean making an offer based on what you see online without actually visiting the house. I’m not a fan and don’t think I would buy a house like this but some people do. I have sold 6 or 7 sight unseen homes. I do a walk through looking for things that you can’t see on MLS images. I have also done short video walk throughs to get a feel for the property. I only do walk throughs and videos for buyers who are drop dead serious about making an offer on a specific home.

Renting. There are few to none short term rentals here in Ocala other than an Air B&B. Ocala 55+ communities have various restrictions against renting short term. Renting long term is hard to find and during the lease term home prices will go up and you’ll be spending $1500 to $2000 a month during the lease. I’ve been told there are short term rentals down in the Villages but that’s all I know. I don’t do rentals at all.

A sellers market here in Ocala

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The real estate market here in Ocala has changed dramatically since the fall. For example in the 55+ community I live in, Del Webb Stone Creek, last October there were at least 40 listings and today there are just 7.

I had a couple of buyers over the last couple of weeks. The first buyers had their house in another state under contract. They found 3 homes to see. When I went to make appointments 2 had contract but weren’t put as Pending into the MLS yet. They did like the one we saw and made an offer that was accepted. The 2nd buyer from South Florida found 4 homes. Once again when I went to make appointments 2 had just got under contract. A third stated in the Realtor remarks that they had multiple offers. My buyer decided to postpone her trip.

Inventory is limited. The lower your price range the harder it’s getting to find listings and when you go they go fast.

 

Ocala Real Estate Market Report February 2021

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Market Report
CLOSED SALES 513
MEDIAN SOLD PRICE $188,000
AVERAGE SOLD PRICE $259,920
MEDIAN % ORIGINAL LIST PRICE 98.2%
MEDIAN TIME TO CONTRACT 22 days
MEDIAN TIME TO SALE 79 days
NEW PENDING SALES 801
NEW LISTINGS 692
ACTIVE LISTINGS 884
MONTHS SUPPLY OF INVENTORY 1.6 months

We are in a serious sellers market here in Ocala. There is only 1.6 months of inventory. Active listings are own 55% from February 2020. Prices keep going up.

Ocala Florida weather report March 2021

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This winter has been the coldest one since I moved to Ocala in 2004. According the the tv weather man it was the coldest in Florida in 20 years. By cold I mean several frosts and a couple of light freezes. Day time temperatures in the high 50’s is freezing here. The grass which often stays green all winter is brown and dormant. Plants that generally survive in this zone look pretty much toasted.

The last week of February warmed up. We had several days in the 80’s. March is spring. The day time temps will be in the 80’s and nights in the 60’s. There will be little or no humidity until May. Spring which is a lot like summer up north is great here in Ocala.

Ocala Real Estate Market Report January 2021

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Market Report
CLOSED SALES 482
MEDIAN SOLD PRICE $189,000
AVERAGE SOLD PRICE $255,044
MEDIAN % ORIGINAL LIST PRICE 98.3%
MEDIAN TIME TO CONTRACT 21 days
MEDIAN TIME TO SALE 88 days
NEW PENDING SALES 745
NEW LISTINGS 686
ACTIVE LISTINGS 1046
MONTHS SUPPLY OF INVENTORY 1.9 months

As expected sales are down from past months because closings in January result from contracts written over the holidays. Although we here in Ocala are in a serious sellers market our area is still much cheaper to buy and live than south Florida. There is a decent selection of homes as well.

Ocala Florida Weather Report February 2021

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The winter of 2020-21 is the coldest I’ve seen since moving to Ocala in 2004. I’ve seen colder nights and a few really hard freezes but never so many cold days and nights. By cold I mean days in the low 60’s and nights in the 30’s. Typically the weather should begin to warm up in mid to late February. March is a full blown spring month. I can’t wait.