The Ocala real estate market report provides monthly sales statistics and commentary for buyers and sellers.

Ocala Real Estate Market Report October 2017

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Market Report
CLOSED SALES 499
MEDIAN SOLD PRICE $156,000
AVERAGE SOLD PRICE $182,504
MEDIAN % ORIGINAL LIST PRICE 95.9 %
MEDIAN TIME TO CONTRACT 54 days
MEDIAN TIME TO SALE 100 days
NEW PENDING SALES 632
NEW LISTINGS 927
ACTIVE LISTINGS 2666
MONTHS SUPPLY OF INVENTORY 5.0 months

I get my sales statistics from a monthly report from the Ocala board of Realtors. It always has a comparison to the same month last year. I usually don’t pay much attention to the year to year thing but today something jumped out to me. Even though sales were almost the same with 500 homes this month and 499 a year ago the gross sales and the median sold price jumped up. The median sold price was $156,000 this year and $130,000 last year. Total dollar volume this year was 91.1 M and last year only 76.8 M . Prices are going up.

Ocala Real Estate Market Report September 2017

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Market Report
CLOSED SALES 470
MEDIAN SOLD PRICE $157,750
AVERAGE SOLD PRICE $185,308
MEDIAN % ORIGINAL LIST PRICE 96.1 %
MEDIAN TIME TO CONTRACT 46 days
MEDIAN TIME TO SALE 93 days
NEW PENDING SALES 407
NEW LISTINGS 829
ACTIVE LISTINGS 2551
MONTHS SUPPLY OF INVENTORY 4.8 months

September was a slow month for sales compared to August with 600 sold. Hurricane Irma was in September but that would have no effect because contracts take 30 plus days to close in most cases. Any effect from Irma won’t be felt until next month. I don’t worry much about an off month. What is significant is pending homes sales are low maybe because of Irma and inventory keeps going down. I just wrote a blog post about multiple offers. We are in a borderline sellers market.

Ocala Florida real estate market report August 2017

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Market Report
CLOSED SALES 600
MEDIAN SOLD PRICE $149,950
AVERAGE SOLD PRICE $173,031
MEDIAN % ORIGINAL LIST PRICE 95.9 %
MEDIAN TIME TO CONTRACT 60 days
MEDIAN TIME TO SALE 103 days
NEW PENDING SALES 685
NEW LISTINGS 870
ACTIVE LISTINGS 2563
MONTHS SUPPLY OF INVENTORY 2.8 months

August was a very good month for sales with 600 homes sold. The summer is our slow season and 600 homes in August is great. As I have been saying we are in a borderline sellers market. Homes in good condition in desirable subdivisions are selling quickly and close to or at full asking price. I think compared to other states and even other areas of Florida Ocala is still a bargain. However the days of low ball offers are long gone.

Ocala Real Estate Market Report July 2017

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Market Report
CLOSED SALES 525
MEDIAN SOLD PRICE $152,000
AVERAGE SOLD PRICE $179,856
MEDIAN % ORIGINAL LIST PRICE 95.5 %
MEDIAN TIME TO CONTRACT 53 days
MEDIAN TIME TO SALE 102 days
NEW PENDING SALES 589
NEW LISTINGS 754
ACTIVE LISTINGS 2613
MONTHS SUPPLY OF INVENTORY 4.9 months

Sales were down about 100 units from June but that is typical. We don’t have a real off season like the dead of winter up north but sales slow down in the summer and pick back up late in the fall. Not much has changed since last month. Although new listings are down. I hope that picks up in the fall. I really don’t look forward to a sellers market.

Ocala Real Estate Market Report June 2017

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Market Report
CLOSED SALES 626
MEDIAN SOLD PRICE $154,100
AVERAGE SOLD PRICE $177,677
MEDIAN % ORIGINAL LIST PRICE 95.7 %
MEDIAN TIME TO CONTRACT 51 days
MEDIAN TIME TO SALE 98 days
NEW PENDING SALES 635
NEW LISTINGS 827
ACTIVE LISTINGS 2618
MONTHS SUPPLY OF INVENTORY 4.9 months

June 2017 was another excellent month for home sales in Ocala. Our market began to recover 2 or 3 years ago and as I keep saying we haven’t been in a buyers market for quite some time. With 4.9 months of inventory we are in fact on the borderline of a sellers market.

Ocala Real Estate Market Report May 2017

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Market Report
CLOSED SALES 639
MEDIAN SOLD PRICE $153,000
AVERAGE SOLD PRICE $175,500
MEDIAN % ORIGINAL LIST PRICE 96.2 %
MEDIAN TIME TO CONTRACT 47 days
MEDIAN TIME TO SALE 93 days
NEW PENDING SALES 665
NEW LISTINGS 905
ACTIVE LISTINGS 2654
MONTHS SUPPLY OF INVENTORY 5.0 months

May was a great month for home sales in Ocala. However May is usually our biggest month. We sold 639 homes in May 17 compared to 541 in April 17 and 621 in May 16. The big news is that the median home price was $153,000 compared to $129,000- in May 2016. That is a 17.8% increase ! Active listings are down 10.3% compared to 1 year ago. Months of inventory is 5.0. The bench mark for a neutral market is 5.5 months. We are slipping into a sellers market. The good news is that as prices go up more people are looking to sell.  New listings this month are up 18.3% over May 2016. As you might expect in a borderline sellers market buyers are paying close to list price with the median % of original list price at 96.2%.

As a buyers agent who works mostly in 55+ communities I am finding it very difficult to find 55+ homes under $100K. Those that I do see need a lot of updating. There is a decent selection of 55+ homes in the $100-$150K range but they also will need some updating. A real sweet spot is the $150-$250K range where is a really nice selection of 55+ homes for sale.

Ocala Real Estate Market Report April 2016

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Market Report
CLOSED SALES 541
MEDIAN SOLD PRICE $146,500
AVERAGE SOLD PRICE $161,717
MEDIAN % ORIGINAL LIST PRICE 95.1%
MEDIAN TIME TO CONTRACT 47 days
MEDIAN TIME TO SALE 94 days
NEW PENDING SALES 657
NEW LISTINGS 798
ACTIVE LISTINGS 2623
MONTHS SUPPLY OF INVENTORY 4.9 months

We are currently in a neutral market. That is defined by 5-6 months of inventory. As you can see with 4.9 months we are leaning towards the seller side. I was just in a competitive bidding situation this week. Other agents have complained that they don’t have as many listing as they used to. Prices are definitely going up.  There are still a lot of nice houses here and although prices have gone up Ocala is still cheap compared to other parts of the country.

Ocala Real Estate Market Report March 2017

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Market Report
CLOSED SALES 609
MEDIAN SOLD PRICE $142,000
AVERAGE SOLD PRICE $167,493
MEDIAN % ORIGINAL LIST PRICE 96.2%
MEDIAN TIME TO CONTRACT 51 days
MEDIAN TIME TO SALE 102 days
NEW PENDING SALES 730
NEW LISTINGS 930
ACTIVE LISTINGS 2730
MONTHS SUPPLY OF INVENTORY 5.1 months

In March we had 609 sales. That was great but March is one of our biggest months with sales to snowbirds and buyers just sick of the winters up north. Prices keep going up and inventory is going down. We are getting closer and closer to a sellers market.

Ocala Real Estate Market Report February 2017

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Market Report
CLOSED SALES 438
MEDIAN SOLD PRICE $138,350
AVERAGE SOLD PRICE $168,331
MEDIAN % ORIGINAL LIST PRICE 95.9 %
MEDIAN TIME TO CONTRACT 55 days
MEDIAN TIME TO SALE 97 days
NEW PENDING SALES 612
NEW LISTINGS 812
ACTIVE LISTINGS 2758
MONTHS SUPPLY OF INVENTORY 5.2 months

February sales were lower than I would have expected. Prices keep going up and inventory is going down. Homes are selling faster and for a high percent of the list price. We are beginning to see new construction both residential and commercial.

Ocala Real Estate Market Report January 2017

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Market Report
CLOSED SALES 419
MEDIAN SOLD PRICE $141,500
AVERAGE SOLD PRICE $167,426
MEDIAN % ORIGINAL LIST PRICE 95.5 %
MEDIAN TIME TO CONTRACT 50 days
MEDIAN TIME TO SALE 97 days
NEW PENDING SALES 640
NEW LISTINGS 927
ACTIVE LISTINGS 2807
MONTHS SUPPLY OF INVENTORY 5.3 months

Once a month I get these statistics from the MLS. This being January I thought I’d compared January 2017 to 2016. Median Sales Price 2017 $141,000 vs $108,000 2016. Average sold price $167,426 vs $136,243 in 2016. Median time to contract 50 days vs 61 in 2016. Active listings 2807 vs 3184. As you can see we are in a neutral market. The long lasting buyers market of years past is over.