Ocala Home Sales Rise, Prices Dive
Home sales bounced back in August while local median prices dropped to an 18-month low.
Ocala had the largest annual home sales gains in the state in August while reversing a four-month decline, and the metro area's median price, already the lowest in the state, continued to decline.
Sales of existing single-family homes reached 345 in August, up 32 percent from 262 a year ago for the highest increase in the state. August sales were also up 17 percent from 295 sales for July.
Ocala's median prices dropped further in August to $80,200, a 25 percent drop from $107,400 a year ago and the lowest since $75,500 in February 2003.
The 201 sales of existing single-family homes in Gainesville were up 26 percent from July's 159 and 25 percent from the 161 sales in August 2009, according to Florida Realtors. July's sales were a dramatic drop from the 264 sales in June, a three-year high, in what was the original deadline to close tax-credit sales that had to be under contract by April 30.
Median prices in the Gainesville metro area — consisting of Alachua and Gilchrist counties — dropped to $143,500 in August, down 18 percent from $175,500 a year ago and the lowest since February 2009 when it was $136,000. Median prices have decreased for three straight months following three months of gains.