Average price of a Marion County home surpasses $170k, up 40% since 2015
September 25, 2018
If you're in the market for a home in Marion County, you've probably noticed less & less under the $150k mark. That's because a combination of area growth & low inventory have driven values up quite substantially over the past few years.
Just six years ago, in 2012, the average Marion County home sold for $100k. That same $100k house would be worth a whopping 70% more in 2018! But before you begin to worry that values are out of whack, just 30 miles north in Gainesville, the average home is around $250k, so Marion County is still very attractively priced.
Under $300k, there continues to be low inventory locally - and the lower the price point, the less there is on the market. Under $200k, there are less than 5 months supply. That is indicative of a seller's market.
We're a long way from the buyer's market we experienced a decade ago and there's no sign of this changing anytime soon. Certainly we can't expect 10% annual appreciation forever but with low inventory, there are no warning signs on the horizon.
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