Everything about Ocala Florida real estate

Ocala Covid 19 update

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I thought I would do a post about the Covid 19 here in Ocala.

Florida is the 3rd largest state by population in the country. Florida is ranked 8th by number of confirmed cases and 10th by deaths. About 60% of the cases in Florida are in the Palm Beach down to Miami area. This despite Florida being a retirement haven with an older and more vulnerable demographic.

Ocala is in Marion County. This is a county as large as Rhode Island with a population of 365,000 people. As of today April 29 there are 165 confirmed cases, 4 deaths and 5 hospitalizations.

When I go out to the grocery store, Walmart or Lowes even during week days it’s seems as least as crowed as pre virus days.

The Governor is beginning to open the state back on April 30.

Ocala Real Estate Market Report March 2020

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Market Report
CLOSED SALES 688
MEDIAN SOLD PRICE $181,500
AVERAGE SOLD PRICE $231,511
MEDIAN % ORIGINAL LIST PRICE 97.4%
MEDIAN TIME TO CONTRACT 55 days
MEDIAN TIME TO SALE 106 days
NEW PENDING SALES 627
NEW LISTINGS 697
ACTIVE LISTINGS 2055
MONTHS SUPPLY OF INVENTORY 3.3 months

Homes sales in our Ocala MLS were great in March. That’s because all those contracts were written before the Covid 19 virus started shutting things down mid month. Every day I look at the MLS and every day there are Pending listings. Those are contracts that were negotiated in the previous couple of days. The number per day varies but around 20 a day might be average. Much to my surprise people are still buying houses here.

Ocala Florida weather report for April 2020

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It’s been a warmer and dryer than usual spring. I’ve had to turn on my AC more than past years. It’s also been really dry with almost no rain until the end of April. April here in Ocala is a great month. Temperatures in the 80’s with little or no humidity and sunny almost every day. It’s almost May. May is a transition month from dry weather to humid weather starting near the end of the month. The humidity is a small price to pay for no snow or ice.

Ocala Real Estate Market Report February 2020

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Market Report
CLOSED SALES 541
MEDIAN SOLD PRICE $172,500
AVERAGE SOLD PRICE $198,688
MEDIAN % ORIGINAL LIST PRICE 96.4 %
MEDIAN TIME TO CONTRACT 55 days
MEDIAN TIME TO SALE 110 days
NEW PENDING SALES 711
NEW LISTINGS 682
ACTIVE LISTINGS 1981
MONTHS SUPPLY OF INVENTORY 3.2 months

This report is for February. Statistics come from the board of Realtors and are always about a month behind. It will take some time to see the impact of the Corona virus. I look at new listings and pending listings every day but have not seen anything drastic yet.

Ocala Florida Weather Report March 2020

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March is the beginning of Spring in Ocala. Actually by some northerners standards it’s like their summer. Days in the 80’s and nights in the 60’s. This is the dry season and we can go for a week or more with no rain at all. There is no humidity either in March. March is one of our best months.

Ocala New Home Buyers Beware

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If you are looking at new homes and want to have the help of a Realtor beware ! If you contact a builder to request information be it on the phone or online they will register you as a customer. They do not disclose that they will not pay a real estate commission once they claim you as their customer. Builders do pay real estate commissions but only if the Realtor brings you into the sales office or pre registers you.

A Realtor can be a big help in buying a new home. The builders sales people are employees just like car sales people.

A Realtor can provide the following services.

  1. Show you resales that might exist that are only a couple of years old with upgrades beyond what you get in a new home from the builder.
  2. Show you sold comps to see what new and recent resales sold for.
  3. Realtors can help you select the best community for you. They will tell you the bad as well  the good unlike getting a one sided view from the builders employees.
  4. Help you select a good lot. I often scratch my head and wonder why with all those lots to pick from someone bought the one they did.
  5. Advise on options. Some options are a must and and others are just crazy over priced.
  6. Help find contractors for all those things you end up doing after closing.

Ocala Real Estate market Report January 2020

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Market Report
CLOSED SALES 504
MEDIAN SOLD PRICE $175,000
AVERAGE SOLD PRICE $207,722
MEDIAN % ORIGINAL LIST PRICE 96.2 %
MEDIAN TIME TO CONTRACT 55 days
MEDIAN TIME TO SALE 102 days
NEW PENDING SALES 719
NEW LISTINGS 902
ACTIVE LISTINGS 2279
MONTHS SUPPLY OF INVENTORY 3.7 months

We are in a sellers market. For a balanced market you have to have 5.5 months of inventory. We now have only 3.7 months down from 5.0 in January 2019. Since January 2019 the median home price has gone from $159,000 to $175,000 a 9.4% increase. We are not seeing a lot of multiple offers but it’s getting common to make appointments to see 10 houses and to find 2 have offers but the agent hasn’t had time to mark them pending on the MLS yet. There is still a pretty good selection of homes for sale in the 55+ communities I work in.

Ocala Real Estate Market Report December 2019

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CLOSED SALES

Market Report
CLOSED SALES 628
MEDIAN SOLD PRICE $183,389
AVERAGE SOLD PRICE $219,745
MEDIAN % ORIGINAL LIST PRICE 96.7%
MEDIAN TIME TO CONTRACT 55 days
MEDIAN TIME TO SALE 99 days
NEW PENDING SALES 571
NEW LISTINGS 663
ACTIVE LISTINGS 2433
MONTHS SUPPLY OF INVENTORY 4.0 months

December 2019 sales were 23% higher than December 2018. The median sold price was up 11%. Active listings were down 11.7% over December 2018. We are in a sellers market. Prices keep going up and nice move in ready homes sell for close to asking price. There is still a good selection of homes although that is not so true about cheap under $1ooK homes. Compared to other parts of the country and even other parts of Florida Ocala is still very affordable.

 

 

Ocala Florida weather report January 2020

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Christmas was exceptionally warm here in Ocala with temperature in the high 70’s and low 80’s.

January is our winter month. February is winter too but it starts to warm up by the end of the month and March is spring. Winter is a series of cold fronts. The temperature will be in the 70’s then a cold front will come through and the day time temps will drop to the 60’s or even high 50’s for a couple of days. Then we arm back up until the next cold front. We can get a frost or two and every few years a freeze. The winter is the dry season with little rain and no humidity.

If you don’t love the winter like I do then move to Ocala ! The hot humid summers are a small price to pay for no snow and ice.

Christmas in Ocala

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This is a picture blog post about my trip to down town Ocala to have dinner and see the Christmas lights on the town common.

trees draped in lights on Ocala town common

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