Want to know the value of your Ocala, Florida, home? Figuring out how much your home is worth is important if you plan to sell it, refinance your mortgage, assess your financial situation, or are just curious.
In this post, our realtors at Your Home Sold Guaranteed Realty - Coldwell Real Estate Services will share X factors that affect home value. We’ll also share what homes are worth on average in the Ocala housing market.
Key Takeaways:
- Homes in desirable locations with good school districts, neighborhoods with low crime rates, and close to amenities like parks, grocery stores, and transportation hubs have a higher market value.
- New construction homes and well-maintained, move-in ready homes are worth more than older, outdated ones in need of significant repairs or renovations.
- Neighborhood amenities like parks, community centers, fitness centers, walking trails, HOAs, and communal pools can add to property values.
What is the Value of My Home? – Top Factors That Influence Property Value
Home Condition and Features
- Location: Location plays a huge role in property value. Homes in desirable locations with good school districts, neighborhoods with low crime rates, and close to amenities like parks, grocery stores, and transportation hubs have a higher market value.
- Square Footage: The square footage of a home, as well as the number of bedrooms, bathrooms, and functional living spaces it has directly influences its value. Larger homes with more space are usually worth more.
- Condition: The age of a home affects how much it’s worth. New construction homes and well-maintained, move-in ready homes are worth more than older, outdated ones in need of significant repairs or renovations.
- Lot Size: Homes on larger lots tend to have a higher property value, especially if they have amenities like pools, patios, or gardens.
- Renovations: Renovations of high-traffic rooms can increase a home’s property value. A new kitchen, bathroom remodel, or simply just updating hardware and appliances are all projects that can impact a home’s valuation.
- Desirable Features: Popular features that buyers are willing to pay more for can give a home a higher valuation. This includes features like a designated laundry room, exterior lighting, energy-efficient appliances, storage spaces, and updated HVAC systems.
Market and Economic Conditions
- Local Housing Market: The value of your home depends on whether the market in your area is a buyer’s or seller’s market, as well as pricing trends, sales volume, and mortgage rates.
- State of the Economy: The broader economy also impacts home values. Factors like inflation, unemployment levels, wage growth, and recessionary conditions determine how much your home is worth to buyers.
Neighborhood
- Comparable Sales: The sale price of recently sold and currently listed properties in your same neighborhood can provide insight into how much your home is worth. Remember that your home’s unique features, condition, and exact location may make it worth more or less than others in the same area, so be sure to consult with a realtor.
- School Districts: A good school district raises the property values of homes in the area since those homes become highly desirable to buyers with children.
- Available Amenities: Neighborhood amenities like parks, community centers, fitness centers, walking trails, HOAs, and communal pools can add to property values.
What is the Value of Homes in the Ocala Housing Market?
In Ocala, most homes spend 74 days on the market before selling, while the hottest homes sell in as fast as 13 days.
The Ocala housing market is considered a neutral market, so neither buyers nor sellers have the upper hand in a transaction. In recent months, the median home price was $280,000, which is a 3.4% decrease from the same point last year.
In addition, most homes sell for four percent below their asking price, while the hottest homes sell for exactly their original price. The Ocala market has a sale-to-list price ratio of 95.9% and only 6.9% of homes sell above their asking price.
Work with Scott Coldwell to Find Your Home Valuation Today
At Your Home Sold Guaranteed Realty - Coldwell Real Estate Services, Scott Coldwell and our team can easily help you discover the market value of your home and help you prepare for a successful sale.
Our track record of success is proven through our data– on average, we sell homes 48% faster and for 2.4% more money than our competitors. Plus, with our seller guarantees such as our Guaranteed Sale Program, you can ensure a risk-free home-selling experience.
Contact us today at 352-290-3512, send a message to [javascript protected email address], or use the form on this page to learn more about working with our team. Selling your home doesn’t have to be stressful when you work with the best realtor in Ocala and all of North Central Florida!
To Discuss Your Home Sale or Purchase, Call or Text Today and Start Packing!
