The Ocala Real Estate Market - What's Going On?

Many people are asking themselves what happened to the Ocala Real Estate market. Our market had a great run up in prices which fizzled out in 2005/2006 and now we are going through a much needed correction. Although Ocala has a low unemployment rate, our wages are also much lower than the average wage in the rest of the country. So once the investors quit buying and became sellers, our local economy could not support the appreciated values of most of our homes.

Three of the reasons people were moving to Ocala to retire here, were the low prices of homes, insurance and taxes. Our inventory went from around 1100 residential listings in June of 2005 to 7860+ residential listings today, which is a 714% increase in inventory.
On the buying side, volume was 48% in September, and has been off 30-50% consecutively for the past 12 months.

Sub Prime loans are very hard to get any more, which cuts out a lot of buyers who are willing, but not able.

The Sub Prime woes, foreclosures and the high inventories are nationwide problems, which keeps buyers from selling in other states, and in turn from buying here.

This is a much needed correction and it will take years to absorb our high inventory.
Hopefully our local government will help with real estate tax reductions. They are working on a PROPOSED SUPER HOMESTEAD (check it out at http://www.pa.marion.fl.us/).

Ocala is a beautiful place to live and lots of baby boomers are getting ready to retire and there are only so many warm places to move to in our country. I am very optimistic for the future of the Ocala Real Estate market – it’s a perfect time to buy and realistic priced homes are selling every day.


Brigitte Shultz
The Shultz Team
#1 Team at Re/Max Premier Realty
Ocala, FL
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Direct: 352-291-1276
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