The city of Ocala, situated in north-central Florida, is a booming mid-sized city that is well-known known for its lush green grass and championship-caliber thoroughbred horse farms.
The city's real estate market is also viewed as the one of the most stable and vibrant markets in the state, as more and m ore retiring baby boomers are flocking to the city to buy second homes, as well as make the place a permanent retirement destination.
Since the 1960's, The county has seen tremendous growth in the manufacturing and industrial sectors. This healthy economic diversity,combined with rich agricultural and natural resources, has made Marion County one of the fastest growing areas in the country. The city was declared an "All America City" by the National Civic League in 1995, and was also voted as the nation's fifth most desirable place to live by Money Magazine.
Median Prices For Ocala Homes
The median price of homes in Marion County for the second quarter of 2007 was $170,900, a slight jump from $169,500 for the same period in 2006. The National Association of realtors has reported a U.S. median home price of $223,800 for the second quarter of 2007 compared to $227,100 in 2006. Statewide, the median price for the period was $221,200, down from $243,300 in 2006.
Ocala Has A Vibrant And Diverse Economy
Marion County, as well as the city of Ocala, has a diverse and vibrant economy. Its manufacturing sector is strengthened with the growth of the commercial and service sectors. The growing population and excellent training programs also supply a steady workforce for employers. The area's mild climate, and its proximity to major educational centers, regional growth corridors, and international airports add to attract new and expanding businesses to the community.
Ocala Is Seen As A Top Retirement Destination
The growth of the housing sector in Ocala, like most of central and south Florida, is largely driven by the influx of senior citizens who are relocating from harsher northern climates, and the area's growing employment opportunities.
According to housing analysts, it appears that residential construction activity has stabilized and will return to a steady increase by the fall of 2008, and most indicators that would enable a healthy local new home sales market are positive; such as low interest rates, lower cost of construction products and services, strong commercial construction activity, and baby boomers reaching retirement age.
The City Offers Attractive Housing Programs
Marion County offers several affordable housing programs for income eligible households, and these are usually given by out by state and national housing and lending institutions. Aside from offering housing grants and programs, several home events are held each year to expose potential buyers to area builders.
Two of the area's largest events are the annual spring Parade of Homes and the Fall Showcase of Homes, and the Marion County Building Industry Association sponsors both events. Homes in this area usually range from the more affordable types of just over $100,000, to those considered in the luxury price range of over $500,000.
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