Marion County's median sale price for existing family homes continues to climb, with prices jumping by 23.6% in July when compared with the same month last year, according to the Ocala Marion County Association of Realtors.

The median price rose from $234,900 in July 2021 to $290,250 this year. The average price rose from $300,568 in June 2021 to $357,194 this year. Experts say the median sales price is the 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.

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The number of existing single-family homes sold in Marion decreased by 15.8% year over year, ticking down from 647 in July 2021 to 545 this year.

The overall total sales volume of existing single-family homes in Marion County was $194.7 million, up from $194.5 million in July 2021. That's a increase of 0.1% from July 2021.

Pending inventory decreased by 30%, from 1,192 in July 2021 to 834 this year. There was two months of available inventory in July, up from 1.3 months in July 2021.

The median time to contract a home from the time it hits the market was 11 days in July, up from July 2021's nine days. The median number of days to sell a home was 54 in July, down from 62 in July 2021.

The number of active listings was 1,303 at the end of July, up from 825 in July 2021. The number of new listings was 732 in July, down 5.5% from 775 last year.

Median manufactured home price up 12%

The median sales price of a manufactured home in Marion climbed 12% in July, from $120,500 in July 2021 to $135,000 this year, the report stated.

The average sales price hit $149,482 in July, a jump of 16.6% since last year. The average price was $128,148 in July 2021.

Sales of existing Marion County manufactured homes decreased by 27.5% in July, compared with the same month a year ago, from 80 in 2021 to 58 this year.

Overall, the total sales volume for manufactured homes declined by 15.4%, from $10.3 million in July 2021 to $8.7 million this year.

Pending sales of Marion County manufactured homes increased by 6.9% in July, down from 87 in July 2021 to 93 this year. There were 116 manufactured homes in inventory in July 2022, up from 106 last year,

The median time to contract a manufactured home from the time it hits the market was only 23 days in July, up 91.7% from July 2021's 12 days. Median number of days to sell a manufactured home was 62 in July, down from 65 in July 2021.

The number of new listings was 93 at the end of July, down from 79 at the end of July 2021. There was 1.8 months of available inventory in July, down from 1.7 months one year ago.

Median price of townhouses, condos up 18.4%

Sale prices of townhouses and condominiums also continued to escalate in Marion County, with the median price for July up 18.4% year over year, from $147,750 in July 2021 to $175,000 this July, the report stated.

The average sales price of townhomes and condos was $187,541 in July, up 18.2% since July 2021, when the average was $158,776.

Sales of existing Marion County townhouses and condos decreased by 8.9% in July when compared with the same month a year ago. July saw 51 townhomes and condos sold by Realtors, compared with 56 in July 2021.

Overall, the total sales volume of townhouses and condos hit $9.6 million in July, up 7.6% from $8.9 million in July 2021. There were 81 townhomes and condos in inventory in July 2022, up from 63 last year,

The median time to contract a townhome or condo from the time it hits the market was seven days in June, down 30% from July 2021's 10 days. The median number of days to sell a manufactured home was 53 in July, up from 50 in July 2021.

The number of new listings was 63 at the end of July, down from 77 days at the end of July 2021. There were 1.4 months of available inventory in July, up from 1.1 months one year ago.

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: Ocala/Marion County, Fla: Median home sale price up 23.6% in one year