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Market Report for Ocala Florida Real Estate March 2008

By
Real Estate Agent

 

OCALA REAL ESTATE MARKET REPORT
 Homes Sold March 2008 ........199*
$100,000.00 or less..........................65
$101 to $200,000.00........................84
$201 to $300,000.00........................27
$301 to $500,000.00........................15
$500,000.00 Plus..............................8
Active Listings as of 4/3/08.......7279**This does not count homes sold by builders that may not be listed on the MLS Number may be revised due to late reports from board of Realtors. 

WHAT"S HOT IN OCALA REAL ESTATE
· Homes priced below $150,000.00
· Golf Course & 55+ communities.  
· SE Ocala near but not in the Historic district
· New Homes priced at or below $100.00 per sq ft of living area

  Sales in March of 2007 were 387 homes. In March of 08 we sold 199!! That's a 49% drop in sales from a year ago. A buyer's market is defined as over 7 months of inventory. We have 36 months.

   Prices continue to go down. I think that there is a large back log of foreclosures that will hit the market later this year. Most of these bank properties are located in the Shores, Marion Oaks, Rainbow Park, Rolling Hills, the Hills of Tuscany, Ocala Park Estates & Belleview Park Estates.

  Established neighborhoods in the SE and the 55+ communities will hold their value better than most of Marion county. Although older homes that are not in upscale neighborhoods do suffer from out dated floor plans and have a hard time competing with new houses.

  Although I think the market will pick up next year, I don't think prices will go back up until we reduce inventory below 3,000 units. When the market does pick up it will be due to the lower prices. We are seeing this already but not many sellers want to participate.

  I have seen homes sell in 30 to 60 days in the last month or two. A really well priced home will sell in any market and quickly.

  Call me if you'd like to know what it would take to sell your house.  Free Ocala MLS search

 

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