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Shawn Wright
Fidelity One Mortgage

Marion County Real Estate Market Enjoys Major Boom Amidst COVID-19 Pandemic

Despite the novel coronavirus that's been sweeping the planet throughout 2020, real estate in Marion County has been enjoying a demonstrable upswing in the past few months.

According to an investigative piece done by Austin Galbraith of WUFTV (University of Florida), there has been a major boom in the real estate market since June. As SavvyOcala previously reported, some large companies like Amazon and Fedex are bringing an influx of jobs to Marion County and the Ocala area. That increase in new jobs is creating a congruent increase in housing demand.

The increase in jobs has also meant a shift in the demographic. The median age of the nearly 360,000 residents of Marion County is currently 49.1 years old. But whereas Marion County has historically been a more desirable location for retirees, more working-age families (with individuals between 18 and 65 years old) are now moving to the area.

That presents a problem for retirees trying to sell their homes. Melissa Gibson, a real estate agent for Sellstate Next Generation Realty in Ocala, told WUFTV that properties in “55 plus communities are having a very hard time selling right now.” 

Added Joe Vorwek, a colleague of Gibson's: “There are normally 6,000 houses available on the market in Marion County every year, but right now there are less than 2,300 available."

Other blog entries

Ocala welcomes Hilton Garden Inn to Downtown Square (11/06/2020)
COVID Threatens Local Ocala Businesses (10/19/2020)
Florida's Choice Realty Enters North-Central Florida market (10/16/2020)
Home Sales Down, But Prices up in Ocala (10/02/2020)
Beloved Ocala small business owner passes away (09/10/2020)
Ocala's Mellow Mushroom project off and running (08/31/2020)
National retail chains expanding to Ocala (08/24/2020)
Ocala Earth Fare market will return to Shady Oaks Shopping Center (08/18/2020)
Previously Owned US Home Sales Enjoy Record Increase In June (07/28/2020)

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