Ocala’s real estate market is almost perfectly balanced as far as inventory is concerned, with 6.9 months of inventory. However, SummerGlen’s market tells an entirely different story. With home sales averaging only one sold per month and with 73 homes currently on the market, SummerGlen has a whopping 73 months of inventory, making it a definitive buyer’s market.
A market’s “inventory” represents how many months it would take, given recent sales, for all homes in the neighborhood to be sold. Six months of inventory indicates a balanced market, with less than six months representing a seller’s market and more than six months indicating a buyer’s market.
With so much to choose from, buyers certainly have the upper hand in this active adult retirement community. This neighborhood has lots of appeal, as it is conveniently located near local restaurants, hotels and shopping, while offering a tremendous community of amenities, including a golf course, club house, basketball courts, tennis courts, a gym, restaurant, pool and two dog parks.
It’s a neighborhood of single-family homes, with the current average list price at around $200,000. The average sales price has jumped around a bit, but has averaged approximately $146,000 over the past twelve months. This is significantly lower than the current average list price, and the higher average list price is mirrored by the uptick in average sales price over the past three months. Home sales prices tend to be going up across Ocala and all of Marion County.
Furthermore, while the inventory indicates a buyer’s market, the average seller discount has seen a significant drop over the past twelve months, which is a stat that appears to favor sellers. Despite this stat, and while Ocala is stable and balanced, SummerGlen definitely skews in favor of the buyers.
