The average list price fell from $183,489to $153,608 or a decline of 16% for the same 12 months period.
The average price per square foot of living area for residential homes fell from $107 a year ago to $82 by the end of December 2008, for a decrease of 23%.
The median sales price fell from $145,000 to $119,000 for a decline of 18%.
Our MLS has 6723 active residential listings as of the December 1, 2008, which shows a significant decrease in inventory. Inventory has been declining since December 2007. 162 homes sold through the Ocala Marion County MLS in December 08, which is an absorption rate of 27 (which means a home would take 27 months to sell at the current rate of sales).
Even though we still see negative numbers on the yearly comparison, we definitely see improvement in the decreasing numbers. Our inventory has come down from over 8000 in 2006 to 6723 as of the writing of this article, and we actually have sold more homes in December of 2008, than in December of 2007. Buyer interest is definitely increasing. Interest rates are at an all time low dipping below 5% for a 30 year fixed rate. In my humble opinion, I see lots of signs of having reached or being very close to the bottom.
For more detailed statistics or a free market analysis, please call or e-mail us. Brigitte@OcalaVisualTours.com * 352-875-3897 - Brigitte's Cell
Art & 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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