Though the housing market in Marion County took a somewhat predictable dip in the early months of the COVID-19 pandemic, the market has since come roaring back to life. And with the latest numbers from the Ocala/Marion County Association of Realtors, the suggestion is that the market won't stop booming any time soon.
The average home price of existing single family homes in Marion County skyrocketed by 41.7% from May of 2020 to May of 2021, according to the report. From $202,783 in May 2020, the median single family home value spiked to $287,313.
The raw quantity of home sales in Marion County also rose significantly within the past year. 694 homes were closed by county realtors in May of 2021, compared to just 402 in May of 2020. That's an increase of 72.2% from last May to this May.
The ultimate big picture numbers for the county's home sales paint a promising picture for the market moving forward. This past May, $199.4 million worth of home sales were recorded in Marion County as the demand for houses increased. In May of 2020, when just $81.7 million worth of home sales were recorded. That represents a leap of 144% between May of 2020 and May of 2021.
