According to OMCAR (Ocala Marion County Board of Realtors) from the end of March of 2009 to March 31, 2010 the average sales price for residential homes fell from $117,352 to $106,862 for a decrease of 9%.  The average list price fell from $126,674 to 114,741 or a decline of 9% for the same 12 months period.  The average price per square foot of living area for residential homes fell from 72 a year ago to $66 by the end of March, 2010, for a decrease of 8%.  The median sales price fell from $101,050 to 90,000 for the same 1 year period for a decline of 11%.

Our MLS has 5136 active residential listings as of May 2nd, 2010, which shows that inventory has declined about 6% since the end of 2009. 306 residential homes sold through the Ocala Marion County MLS in March, 2010, this is an increase of 39% from a year ago. The absorption rate (how many months it would take to sell the inventory at present market levels) fell from 25.0 months a year ago to 14.1 months in March 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 9% 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 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 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