Better Days Ahead?
Prices in Alachua County declined further in 2011 however there is reason to believe that the worst for the housing market may be behind us. Inventory levels declined more than 16% from the end of 2010 to 2011, down from 1,639 active listings to 1,379. Over the same time frame monthly absorption rates declined only modestly, down from 136 sales per month in 2010 to 132 per month in 2011. At current absorption rates Alachua County has a 10 month supply of available inventory, which is a slightly over-supplied market.
Of the markets included in this report, the NE 8th Avenue fared the worst (-53% average price decline/-65% median price). This was also one of the smallest areas noted with only 11 sales. The NW 39th Avenue area recorded the largest increases (+10%/+17%).
If you would like to receive custom reports, please let us know as not all readily available data goes into this report. In addition, the quarterly and end of year reports are frequently adapted to individual requests. We do not copyright this information so feel free to distribute the data as you wish. This is the first of several year-end reports we will post on the website over the next several weeks. Commercial real estate data should be posted soon, along with several adjoining counties.
If you have a group or organization that would like a presentation based on the Alachua County Real Estate Market Trends please let us know. Schedule permitting, we will gladly provide an in-person presentation with key visuals, followed by a question and answer session.
If you wish to be added to a subscriber list for additional reports please e-mail us at markettrends@ocalaappraisals.com.
Best to all in 2012,
Michael G. White
Ocala Valuation Services, Inc.
