As the current housing inventory throughout Marion County increases, it appears that the local real estate market is becoming a buyer's market.

According to the Ocala/Marion County Association Of Realtors, It's a shift in the local market following the home-building surge of 2005. Local housing experts sat that it will be interesting to see real estate numbers in a few years which will better reflect market activity void of speculators who entered the housing market in 2005.

According to the Ocala Realtors Association, "We are seeing a shift to more positive consumer confidence than in the past," The OMCAR notes that "the national media is lumping Ocala in with the entire state. While the coastal areas and southern Florida have seen declines, Marion County still has positive values but consumers are looking at national and state numbers and are being a bit cautious."

Ocala Offers A Variety Of Home Options

Most housing observers note that Marion County offers many homes in a variety of price ranges, which go from simple starter homes to luxurious upper-end estates. Observers note that Ocala is a unique place for those looking for a starter home or those wanting a second or third home.

The median price of homes in Ocala, as well as Marion County, for the second quarter of this year was $170,900, which represents a slight increase from $169,500 for the same period in 2006. The National Association of Realtors has reported a U.S. median home price of $223,800 for the second quarter of 2007 compared to $227,100 in 2006.

Statewide, the median price for the period was $221,200, and was down from $243,300 in 2006. Marion County also offers many affordable home-ownership programs for income-eligible families and households, including the State Housing Initiative Partnership or SHIP and the Community Development Block Grant or CDBG, for home purchase or rehabilitation outside of the city limits of Ocala.

New Construction And Home Sales Figures

Recent key housing indicators have noted that the local market is leaning toward the area of becoming a buyer's market. Housing analysts have said this is being driven by the increasing inventory of both new and existing homes. During fiscal year 2006-2007, which ended on Sept. 30, Marion County has reported around 2,698 permits for single-family homes, which are down from 6,355 in the 2005-2006 fiscal year.

As for multi-family homes, which includes condos, townhouses and apartments, there was a slight increase in 2007 with 48 permits versus 37 permits in 2006. Furthermore, the Marion County Property Appraiser's office has reported that around 6,812 residential units have been sold in Marion County so far this year. In comparison, 13,314 home sales were processed in the previous year.

Ocala Offers A Wide Array Of Residential Communities

Those who are searchin gfor homes in Ocala and Marion County can find it all here, as many community developments have recently sprung up, ranging fro traditional neighborhoods, gated subdivisions to sprawling retirement communities.Communities like Silver Springs Shores and Marion Oaks, are older, more established residential communities, yet both are still experiencing growth. Others areas like Fore Ranch and Heath Brook are newer subdivision developments.

The southern portion of Marion County is also home to a section of the large Villages retirement community with several other gated retirement communities nearby. Just west of Ocala the State Road 200 corridor is also a retiree hub with on top of the World, and Oak Run to name a few.

The Marion County Building Department notes that in 2007, the State Road 200 corridor and Marion Oaks generated the largest amount of residential building permits, which is 46 percent. The next housing growth corridor is the south U.S. 441 corridor and the southeast section of the county, which generated some 30 percent of the area's residential building permits.

Further Growth Is Expected For Ocala's Housing Sector

The local county building department has indicated that housing growth in Marion County, like most of central and south Florida, is being driven by senior citizens relocating from harsher northern climates, and growing employment opportunities in this region. The county building department said that it appears that residential construction activity has stabilized and will return to a steady increase by the fall of 2008.

"Most indicators that would enable a healthy local new home sales market are positive; such as low interest rates, lower cost of construction products and services, strong commercial construction activity, and baby boomers reaching retirement age," The County building agency notes. They are optimistic that the new home market in Marion County will be healthy over the next 12 to 24 months.

http://www.fountainsatgolfpark.com/fountains/index.htm - Ocala Real Estate

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