Home Sales Are Up!!

Ocala home sales up 59 percent over Feb. '09

By Anthony Clark
Staff writer

Published: Tuesday, March 23, 2010 at 12:41 p.m.
Last Modified: Tuesday, March 23, 2010 at 4:32 p.m.
Ocala's housing market resembles a fire sale, with buyers snatching up homes for bargain prices.


Sales of existing single-family homes were up 59 percent in February over a year ago, the fastest rate in the state, while median prices dropped 18 percent - the second largest drop - to $90,000 from $109,600 a year ago, Florida Realtors reported Tuesday.

Only Fort Pierce prices dropped faster - down 21 percent from $122,100 to $96,800, while Fort Myers' median sales prices remained the lowest in the state at $88,000 after dropping 10 percent.

Foreclosures and short sales are downwardly distorting median prices nationwide, according to the National Association of Realtors.

Buyers closed on 264 homes last month in the Ocala metro area, consisting of Marion County, compared to 166 a year ago.

Statewide sales were up 21 percent over the year - marking 18 months of year-over-year gains - and 14 percent since January, while the median price dropped 7 percent from $141,800 a year go to $131,300 in February.

U.S. sales of existing single-family homes were up 4 percent from a year ago but dropped 1 percent since January. The the median price dropped 2 percent from a year ago to $164,300.

First-time buyers accounted for 42 percent of February sales as the April 30 deadline approaches to have a contract to qualify for the $8,000 first-time buyer tax credit. A credit of up to $6,500 is also available for current homeowners in their homes at least five years to buy a new home.


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