Marion County Real Estate Moves Closer to a Balanced Market
In the real estate market, it is common to hear that it is either a “buyer’s market” or “seller’s market.” When the housing bubble burst, it became more of a buyer’s market as home buyers were able to get more house for less money. In the past year or so, the market has tipped more toward a seller’s market, as prices have risen, resale days on the market have decreased and buyers have become more confident in the economy and purchased homes. As home sales and median sales prices have risen, the Florida real estate market has inched closer to a balanced market which favors neither the buyer nor seller – it is good for everyone!
For residents of Marion County and the Ocala, Florida area, a balanced market is in sight as the month’s-supply of listed resale inventory dipped to 6.9 in June 2014, a decrease of 17 percent from June 2013 and very near the benchmark of a balanced market in Marion County of 5.5 months supply.
Marion County’s steps toward a balanced market are a direct result of an increase in home sales. In June, the Ocala/Marion County Association of REALTORS reported 537 closed homes in comparison to 439 in June of the previous year. Additionally, the median sale price for a home in the Ocala area was up 9-percent in June 2014 from June 2013.
The decline in resale inventory and an increase in demand for housing have also led to an increase in new construction in Ocala and Marion County. In May, we celebrated the grand opening of our first Ocala community, Meadow Glenn, and have already sold 15 new homes.
Affordably priced from the $120,000s, Meadow Glenn is a gated community with a neighborhood park. Homes at Meadow Glenn are perfect for first-time home buyers and young families with stylish home plans that showcase three to five bedrooms with 1,250 to 3,315 sq. ft. of living space and a two or three-car garage. Popular features include open layouts, luxurious master suites and covered lanais. Interiors of the homes can be personalized to a buyer’s wants, style and budget with hundreds of design options available in the Highland Homes Personal Selection Studio. Plus, to make purchasing a new home at Meadow Glenn in Ocala even more affordable, qualified home buyers can purchase their home for just $99 down.
Interested home buyers are encouraged to stop by for a tour of the beautifully decorated and Parade of Homes award-winning model home, now open daily. For more information on purchasing a new home at Meadow Glenn, call 352-861-4661 or visit the Highland Homes website today.