Marion County Real Estate Market Trends 2012 Q2
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Marion County Real Estate Market Trends Ocala Valuation Services Phone (352) 425-0354 Toll Free Fax (866) 294-6383 [email protected] Are Inventory Levels Reaching an Under-Supply? Countywide, inventory levels have dropped from a peak of 26 months in 2008 to a current inventory level of 8.2 months. Absorption rates have increased from 250 per month in 2008 to 408 per month for the second quarter of this year. If the sales continue at their current pace we may see an under-supplied market. Don’t be surprised to see new housing starts increase if this is the case. Countywide, prices have increased, and this trend should continue, provided inventory levels do not increase dramatically. Marion Oaks and Silver Springs Shores are now under-supplied after years of bloated inventory levels. Some areas are still suffering declines, primarily those areas most influenced by foreclosure sales in the past several years. These areas will most likely struggle to reach price stabilization long after other markets have rebounded. The 34482 zip code in Ocala experienced the largest increases in values (+93% average/+20% median) , however this was also one of the smaller statistical samplings included in this report. Other markets experiencing gains in values were the 34471 zip code in east Ocala (+19%/+28%) Silver Springs Shores (+20%/+17%) . The largest declines were noted in the 34470 zip code in eastern Ocala (-9%/-15%) and the 34475 zip code in north Ocala (-74%/- 14%). The data included in this report is not copyrighted so feel free to use as you wish. If you wish to be added to our subscriber list for any additional reports please e-mail us at [email protected] . The Marion County Market Trends report is one of several we will be publishing within the next few weeks. Alachua County and Citrus County will be the next reports published. Have a great summer, Michael Gene White Ocala Valuation Services
Transcript of Marion County Real Estate Market Trends 2012 Q2
Marion County Real Estate Market Trends
Ocala Valuation Services Phone (352) 425-0354 Toll Free Fax (866) 294-6383
Are Inventory Levels Reaching an Under-Supply? Countywide, inventory levels have dropped from a peak of 26 months in 2008 to a current inventory level of 8.2 months. Absorption rates have increased from 250 per month in 2008 to 408 per month for the second quarter of this year. If the sales continue at their current pace we may see an under-supplied market. Don’t be surprised to see new housing starts increase if this is the case. Countywide, prices have increased, and this trend should continue, provided inventory levels do not increase dramatically. Marion Oaks and Silver Springs Shores are now under-supplied after years of bloated inventory levels. Some areas are still suffering declines, primarily those areas most influenced by foreclosure sales in the past several years. These areas will most likely struggle to reach price stabilization long after other markets have rebounded. The 34482 zip code in Ocala experienced the largest increases in values (+93% average/+20% median), however this was also one of the smaller statistical samplings included in this report. Other markets experiencing gains in values were the 34471 zip code in east Ocala (+19%/+28%) Silver Springs Shores (+20%/+17%). The largest declines were noted in the 34470 zip code in eastern Ocala (-9%/-15%) and the 34475 zip code in north Ocala (-74%/-14%). The data included in this report is not copyrighted so feel free to use as you wish. If you wish to be added to our subscriber list for any additional reports please e-mail us at [email protected].
The Marion County Market Trends report is one of several we will be publishing within the next few weeks. Alachua County and Citrus County will be the next reports published.
Have a great summer, Michael Gene White Ocala Valuation Services
Marion County Real Estate Market Trends
Phone (352) 4
Entire County
Q2 Sales Average Sales ($)
2007 1,000 198,629
2008 750 188,191
2009 865 131,665
2010 1,174 114,968
2011 1,211 102,643
2012 1,224 107,936
Active 3,341 N/A
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Average Sales ($) Change Median Sales ($)
198,629 N/A 160,000
188,191 -5% 138,700
131,665 -30% 104,000
114,968 -13% 87,950
102,643 -11% 74,000
107,936 +5% 80,000
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Median Sales ($) Change DOM
N/A 141
-13% 169
-25% 164
-15% 153
-16% 165
+8% 155
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Ocala Valuation Services Phone (352) 425-0354 Toll Free Fax (866) 294-6383
Entire County, Month by Month
Period Sales Average Sales ($) Change Median Sales ($) Change DOM
Jul 2011 362 98,961 N/A 74,250 N/A 176
Aug 2011 390 92,983 -6% 75,000 +1% 185
Sep 2011 382 97,931 +5% 65,000 -13% 163
Oct 2011 301 114,035 -16% 72,875 +12% 175
Nov 2011 323 110,554 -3% 85,000 +19% 162
Dec 2011 391 117,043 +6% 75,000 -12% 171
Jan 2012 291 103,257 -12% 70,900 -5% 175
Feb 2012 371 104,878 +2% 74,000 +4% 174
Mar 2012 409 109,209 +4% 80,000 +8% 151
Apr 2012 403 107,997 -1% 79,900 0 161
May 2012 422 108,312 Minimal 80,000 Minimal 152
Jun 2012 399 107,477 Minimal 80,000 0 153
Marion County Real Estate Market Trends
Ocala Valuation Services Phone (352) 425-0354 Toll Free Fax (866) 294-6383
Belleview (34420 Zip Code)
Q2 Sales Average Sales ($) Change Median Sales ($) Change DOM 2007 50 172,372 N/A 154,000 N/A 140
2008 28 144,346 -16% 121,250 -21% 213
2009 42 100,643 -30% 95,000 -22% 203
2010 53 89,504 -11% 77,000 -19% 158
2011 46 68,205 -24% 51,095 -34% 163
2012 39 67,215 -1% 64,900 +27% 134 Active 85 N/A N/A N/A N/A N/A
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Ocala Valuation Services Phone (352) 425-0354 Toll Free Fax (866) 294-6383
Dunnellon (34431 Zip Code)
Q2 Sales Average Sales ($) Change Median Sales ($) Change DOM 2007 19 153,794 N/A 160,000 N/A 171 2008 17 153,059 Minimal 129,000 -19% 204 2009 23 111,875 -27% 119,900 -7% 119 2010 23 173,417 +55% 90,000 -25% 227 2011 26 70,236 -59% 63,250 -30% 125 2012 21 65,069 -7% 62,000 -2% 118 Active 72 N/A N/A N/A N/A N/A
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Ocala Valuation Services Phone (352) 425-0354 Toll Free Fax (866) 294-6383
Dunnellon (34432 Zip Code)
Q2 Sales Average Sales ($) Change Median Sales ($) Change DOM 2007 35 166,079 N/A 165,000 N/A 163 2008 25 193,942 -17% 140,000 -15% 210 2009 41 144,438 -26% 130,000 -7% 168 2010 51 110,579 -23% 114,000 -12% 138 2011 54 90,049 -19% 85,500 -25% 172 2012 47 125,356 +39% 103,000 +20% 197
Active 183 N/A N/A N/A N/A N/A
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Ocala Valuation Services Phone (352) 425-0354 Toll Free Fax (866) 294-6383
Fort McCoy (32134 Zip Code)
Q2 Sales Average Sales ($) Change Median Sales ($) Change DOM 2007 11 224,991 N/A 140,000 N/A 211 2008 10 171,655 -24% 82,500 -41% 167 2009 7 149,500 -13% 117,000 +42% 316 2010 16 81,173 -46% 66,837 -43% 133 2011 19 102,145 +26% 30,000 -55% 127 2012 13 72,628 -29% 40,000 +33% 147
Active 130 N/A N/A N/A N/A N/A
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Ocala Valuation Services Phone (352) 425-0354 Toll Free Fax (866) 294-6383
Ocala (34470 Zip Code)
Q2 Sales Average Sales ($) Change Median Sales ($) Change DOM 2007 63 161,451 7% 150,000 7% 118 2008 31 126,696 -22% 130,000 -13% 163 2009 40 97,847 -23% 84,200 -35% 176 2010 61 83,891 -14% 80,000 -5% 139 2011 66 75,582 -10% 71,000 -11% 135 2012 67 68,962 -9% 60,000 -15% 145 Active 132 N/A N/A N/A N/A N/A
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Ocala Valuation Services Phone (352) 425-0354 Toll Free Fax (866) 294-6383
Ocala (34471 Zip Code)
Q2 Sales Average Sales ($) Change Median Sales ($) Change DOM 2007 79 216,319 -10% 180,000 -11% 128 2008 42 236,048 9% 197,375 10% 145
2009 55 184,676 -22% 150,000 -24% 151
2010 59 153,493 -17% 138,900 -7% 194
2011 68 130,871 -15% 97,450 -30% 172
2012 70 155,203 +19% 125,000 +28% 144
Active 193 N/A N/A N/A N/A N/A
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Ocala Valuation Services Phone (352) 425-0354 Toll Free Fax (866) 294-6383
Ocala (34474 Zip Code)
Q2 Sales Average Sales ($) Change Median Sales ($) Change DOM 2007 46 215,270 6% 191,500 6% 121 2008 37 222,293 3% 165,000 -14% 166 2009 27 155,102 -30% 135,000 -18% 141 2010 42 153,148 -1% 134,500 0% 147 2011 33 114,855 -25% 117,000 -13% 166 2012 41 115,244 Minimal 115,000 -2% 181 Active 63 N/A N/A N/A N/A N/A
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Ocala (34475 Zip Code)
Q2 Sales Average Sales ($) Change Median Sales ($) Change DOM 2007 16 198,550 N/A 118,500 N/A 168 2008 16 114,155 -43% 90,000 -24% 149 2009 16 66,239 -42% 37,000 -59% 130 2010 13 75,526 +14% 49,712 +34% 106 2011 17 386,550 +412% 82,900 +67% 314 2012 17 101,209 -74% 71,000 -14% 185
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Ocala (34476 Zip Code)
Q2 Sales Average Sales ($) Change Median Sales ($) Change DOM 2007 85 207,992 N/A 179,500 N/A 145 2008 62 165,820 -20% 163,000 -9% 172 2009 75 130,102 -22% 129,000 -21% 182 2010 121 133,952 +3% 125,000 -3% 155 2011 110 126,850 -5% 115,000 -8% 172 2012 127 111,970 -12% 108,000 -6% 160
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Active 262 N/A N/A N/A N/A N/A Ocala (34479 Zip Code)
Q2 Sales Average Sales ($) Change Median Sales ($) Change DOM 2007 25 162,556 N/A 149,000 N/A 108 2008 16 120,281 -26% 119,500 -20% 214 2009 17 94,046 -22% 94,500 -21% 156 2010 32 86,701 -8% 59,950 -37% 122 2011 28 65,713 -24% 58,000 -3% 114 2012 35 65,908 Minimal 59,900 +3% 146
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Ocala Valuation Services Phone (352) 425-0354 Toll Free Fax (866) 294-6383
Active 67 N/A N/A N/A N/A N/A Ocala (34480 Zip Code)
Q2 Sales Average Sales ($) Change Median Sales ($) Change DOM 2007 27 281,865 N/A 215,000 N/A 169 2008 36 287,150 +2% 226,778 +5% 165 2009 32 244,502 -15% 122,000 -46% 144 2010 59 199,950 -18% 110,000 -10% 168 2011 67 139,785 -30% 105,000 -5% 153 2012 50 158,560 +13% 106,100 +1% 156
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Ocala Valuation Services Phone (352) 425-0354 Toll Free Fax (866) 294-6383
Active 149 N/A N/A N/A N/A N/A Ocala (34481 Zip Code)
Q2 Sales Average Sales ($) Change Median Sales ($) Change DOM 2007 80 135,071 N/A 125,000 N/A 146 2008 79 111,107 -18% 95,000 -24% 162 2009 75 107,156 -4% 93,000 -2% 169 2010 104 85,437 -20% 75,000 -19% 150 2011 116 86,556 +1% 65,000 -13% 156 2012 160 78,503 -9% 57,500 -12% 163
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Ocala Valuation Services Phone (352) 425-0354 Toll Free Fax (866) 294-6383
Active 300 N/A N/A N/A N/A N/A Ocala (34482 Zip Code)
Q2 Sales Average Sales ($) Change Median Sales ($) Change DOM 2007 69 459,928 N/A 207,000 N/A 145 2008 35 530,986 +15% 218,000 +5% 227 2009 40 295,710 -44% 132,500 -39% 168 2010 60 135,172 -54% 81,500 -38% 127 2011 72 133,062 -2% 103,750 -27% 189
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Ocala Valuation Services Phone (352) 425-0354 Toll Free Fax (866) 294-6383
2012 70 257,160 +93% 124,000 +20% 185
Active 295 N/A N/A N/A N/A N/A Summerfield (34491 Zip Code)
Q2 Sales Average Sales ($) Change Median Sales ($) Change DOM 2007 110 173,404 N/A 162,500 N/A 150 2008 83 170,420 -2% 160,000 -2% 154 2009 95 130,240 -24% 120,000 -25% 180 2010 128 131,135 Minimal 125,000 +4% 202
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2011 108 119,004 -9% 118,500 -5% 201 2012 143 120,531 +1% 120,000 +1% 190
Active 414 N/A N/A N/A N/A N/A Marion Oaks
Q2 Sales Average Sales ($) Change Median Sales ($) Change DOM
2007 46 156,962 N/A 165,000 N/A 141 2008 44 129,653 -17% 135,000 -18% 137 2009 74 91,222 -30% 92,500 -31% 137 2010 108 74,138 -19% 79,950 -14% 126
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2011 99 67,616 -9% 68,000 -15% 154 2012 84 66,032 -2% 66,500 -2% 129 Active 82 N/A N/A N/A N/A N/A
Silver Springs Shores
Q2 Sales Average Sales ($) Change Median Sales ($) Change DOM 2007 99 150,132 N/A 159,000 N/A 150 2008 75 119,891 -20% 122,000 -23% 154 2009 113 84,352 -30% 86,000 -30% 140
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2010 160 68,9402011 155 54,1432012 115 64,845Active 128 N/A
Gated Communities
Q2 Sales Average Sales ($)
2007 203 231,7322008 190 229,5122009 176 163,2972010 237 152,2012011 233 147,5052012 326 134,046
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68,940 -18% 70,000 -19%54,143 -21% 55,900 -20%64,845 +20% 65,177 +17%N/A N/A N/A N/A
Average Sales ($) Change Median Sales ($) Change231,732 3% 180,000 -8%229,512 -1% 155,000 -14%163,297 -29% 154,625 0%152,201 -7% 129,900 -16%147,505 -3% 130,000 0%134,046 -9% 109,000 -16%
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Marion County Real Estate Market Trends
19% 120 20% 157
+17% 110 N/A N/A
Change DOM 8% 149
14% 165 0% 206 16% 205 0% 198 16% 193
Marion County Real Estate Market Trends
Phone (352) 4
Active 1,095 N/A Manufactured Housing
Q2 Sales Average Sales ($)
2007 156 94,7102008 85 101,136
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Average Sales ($) Change Median Sales ($) Change94,710 N/A 71,500 N/A101,136 +7% 63,000 -12%
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Change DOM N/A 135 12% 168
Marion County Real Estate Market Trends
Ocala Valuation Services Phone (352) 425-0354 Toll Free Fax (866) 294-6383
2009 81 92,399 -9% 49,500 -21% 136 2010 108 97,793 +6% 44,500 -10% 139 2011 114 41,294 -58% 32,750 -26% 149 2012 114 54,109 +31% 37,000 +13% 151
Active 489 N/A N/A N/A N/A N/A
