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Ocala Real Estate Market Report for August 2007 |
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OCALA REAL ESTATE MARKET REPORT
Homes Sold AUGUST 2007 ......290*
$100,000.00 or less........................59
$101 to $200,000.00.....................158
$201 to $300,000.00.......................51
$301 to $500,000.00.......................14
$500,000.00 Plus..............................9
Active Listings as of 8/2/07…....7574*
Vacant Houses as of 8/2/07…...2323*
*This does not count homes sold by builders that may not be listed on the MLS.
** These numbers had to be revised due to late reports by mt board of Realtors.
We are now seeing a decline in prices. It started around April when 2 large builders decided to reduce their inventory of spec homes by offering steep discounts. In July I saw a number of investors jump on the band wagon and offer similar price reductions. The price of discounted new homes has brought down the prices of older homes in certain areas. You’ll notice that of the 290 homes sold in August 217 were $200,000.00 or less. Also in July I saw investor homes offered as “short sales”. I think this is just the beginning of investor homes being sold short or foreclosed by lenders.
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