According to OMCAR (Ocala Marion County Board of Realtors) from the end of November of 2008 to November 30, 2010 the average sales price for residential homes fell from $122,690 to $106,149 for a decrease of13%. The average list price fell from $132,100 to 112,947 or a decline of 14% for the same 12 months period. The average price per square foot of living area for residential homes fell from $81 a year ago to $66 by the end of November, 2009, for a decrease of 19%. The median sales price fell from $118,500 to 84,500 for the same 1 year period for a decline of 29%.
Our MLS has 5674 active residential listings as of the December 29th, 2009, which shows that inventory is still holding steady. 243 residential homes sold through the Ocala Marion County MLS in November 09, this is an increase of 36% from a year ago. The absorption rate (how many months it would take to sell the inventory at present market levels) fell from 32 months a year ago to 18.5 months in November of 2009.
The Ocala/Marion County Real Estate Market will continue to absorb the many foreclosures and short sales. Sales volumes are up, but pricesthe approval of the extended and new tax credit are approximately 13% down from a year ago. With interest rates still at an all time low 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 for 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 and fully staffed office, 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 sooner we are able to assist you, the more likely we are to 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
* FREE OCALA MOVING TRUCK WHEN YOU BUY OR SELL THROUGH THE SHULTZ TEAM! *
