In recent months, the housing market in Ocala, FL, exploded beyond some experts' understanding. The boom was noticeable, yet somewhat predictable: in the early months of the pandemic caused by the novel coronavirus, it was understandable that the housing market would not be doing so well. But after the initial months of the pandemic inflicted some damage to the housing market in Ocala, the market roared back to life- leaving observers wondering just how strong it could become.
It now appears that the market is beginning to cool off, and at least to a degree, correct itself.
In Ocala, house sales are still increasing, but the rate at which the increase is happening has started to slow down. In July, house sales went up by approximately 18%, with the median house sale being about $234,000. However, the month before, house sales had increased by more than twice that number (37.5%).
Ocala's housing market is still doing extremely well, comparatively speaking. Across the state of Florida, house sales are actually down by a little over 2%.
Condos are also still on the rise in Ocala at nearly the same rate as houses. In the month of July, condo sales were up by 18%.
