Ocala/Marion real estate: In February, average single-family home sale price was up 41.4%

Marion County's median sale price for existing family homes continues to climb, with prices jumping by 41.4% in February when compared to the same month last year, according to the Ocala Marion County Association of Realtors.

The median price rose from $188,000 in February 2021 to $265,750 this year. The average price rose from $259,920 in February 2021 to $348,284 this year. Experts say median sales price is a best gauge of home values.

Median is the middle sale price after all sales are ranked from highest to lowest. Average is when all sales are added together and divided by the number of sales. Average prices can be skewed when multi-million dollar home sales are in the mix.

2021 was banner year:19.5% boost in homes sold, 28.2% jump in median sales price in one year

December 2021: Ocala/Marion real estate: In December, average single-family home sale price was up 41.4%

January 2021: Average sale price of existing single-family home rose 22.8% in January

The number of existing single-family homes sold in Marion increased by only 0.2% year over year, ticking up from 513 in February 2021 to 514 this year.

Overall total sales volume of existing single-family homes in Marion County hit $179 million in February, up 34.3% from February 2021’s $133.3 million.

Pending inventory decreased by 18.5%, from 1,460 in February 2021 to 1,190 this year. There was less than a month (0.9) of available inventory in February, down from 1.6 months in February 2021.

Median manufactured home prices up 34.1%

The median sales price of a manufactured homes in Marion climbed 34.1% in February, from $89,500 in February 2021 to $120,000 this year, the report stated.

The average sales price hit $137,275 in February, a jump of 21% since last year. The average price was $113,457 in February 2021.

Sales of existing Marion County manufactured homes increased by 64.8% in February, compared to the same month a year ago, from 54 to 89.

Overall, the total sales volume for manufactured homes doubled year over year, from $6.1 million in February 2021 to $12.2 million this year,

Pending sales of Marion County manufactured homes increased by 37.5% in February, up from 72 in February 2021 to 99 this year.

Median price of townhouses, condos up 43.3%

Sale prices of townhouses and condominiums also continued to escalate in Marion County, with the median price for February up 43.3% year over year, from $120,000 in February 2021 to $172,000 this February, the report stated.

The average sales price of townhomes and condos was $205,960 in February, up of 56% since February 2021, when the average was $132,008.

Sales of existing Marion County townhouses and condos increased by 4.3% in February when compared with the same month a year ago. February saw 49 townhomes and condos sold by Realtors, compared with 47 in February 2021.

Overall, the total sales volume of townhouses and condos hit $10.1 million in February, up 62.7% from $6.2 million in February 2021.

— Contact Joe Callahan at (352) 817-1750 or at joe.callahan@starbanner.com. Follow him on Twitter @JoeOcalaNews.

This article originally appeared on Ocala Star-Banner: Marion County housing: Single-family home prices nearly double in a year