According to OMCAR (Ocala Marion County Board of Realtors) from the end of May of 2009 to May 31, 2010 the average sales price for residential homes fell from $122,737 to $114,795 for a decrease of 6%, however, the average sales price increased by 1% from April 2010. The average list price fell from $133,110 to122,554 or a decline of 8% for the same 12 months period. The average price per square foot of living area for residential homes fell from $74 a year ago to $68 by the end of May, 2010, for a decrease of 8%. The median sales price fell from $105,000 to 92,500 for the same 1 year period for a decline of 12%.
Our MLS has 5330 active residential listings as of June 18th, 2010, which shows that inventory is up slightly since the end of March, 2010. 304 residential homes sold through the Ocala Marion County MLS in March, 2010, this is an increase of 6% from a year ago. The absorption rate (how many months it would take to sell the inventory at present market levels) fell from 20.2 months a year ago to 13.4 months in May of 2010.
The Ocala/Marion County Real Estate Market will continue to absorb the many foreclosures and short sales. Sales volumes are up, but prices are approximately 6% down from a year ago. With interest rates still dipping lower and we expect to see inventory continue to move at these low levels.
Want to get in on the great opportunities this buyer’s market has to offer? Check out our article on Tips For Buying Distressed Properties for great comprehensive information on what to look for when buying a foreclosed or short sale home.
Are you facing foreclosure and need to sell your home as a short sale(selling the property for less than what the current mortgage amount is)? The Shultz Team are experienced Short Sale Specialists and are more than happy to assist you in selling your property under stressful circumstances. With an aggressive marketing plan, great communication, we are ready to help save your home and credit from foreclosure. Feel free to contact Art & Brigitte Shultz to discuss your situation and start a plan to save your credit TODAY – the clock is ticking and the sooner we are able to assist you, the more likely we will have a successful closing.
For more detailed statistics or a free market analysis, please call or e-mail us.
Info@TheShultzTeam.com or call us direct at 352-291-1276
Art & Brigitte Shultz
The Shultz Team
#1 Team at Re/Max Premier Realty
Ocala, FL
Toll Free: 800-243-4087
Direct: 352-291-1276
Info@OcalaVisualTours.com
www.OcalaVisualTours.com