Home Prices on the Rise
More evidence that our housing market is improving.
U.S. home prices jumped more than 12 percent in may compared with a year ago.
That's the biggest yearly gain since March 2006.
Take a look at this three bedroom and three bathroom home located in southeast Ocala.
It has everything from a kitchen with granite tops, a tub in the master bathroom and an outdoor covered patio.
The current market price for this home is a grand total of $549.900, but would have been much less just one year ago.
"It would be a lot less last year this time probably about 20 percent," said Abigail Meadows with Keller Williams Cornerstone Realty.
"The market has changed drastically. Something that sold a year ago would've sold more today in this market," said Christine Meadows with Keller Williams Cornerstone Realty.
Both women are Florida certified realtors.
They said home prices are soaring and you can expect that to continue.
"Home values are rising right now because inventory is decreasing. A lot more people are looking and buying so there is not as many houses on the market and the prices are becoming more competitive," said Abigail.
" Short sales and foreclosures are becoming more of a thing of the past. So in direct result prices are rising," said Christine.
According to zillow.com most counties in Florida experienced an increase in the median sale price from June 2012 to June 2013.
Marion County median sale price in June was $111,500. Up about 11 percent from last year.
Alachua County median sale price in June 2012 was $155,100. Almost 16 percent up from June 2012.
Levy County median sale price was $95,500. A 7.5 percent increase from last year.
Putnam County median sale price this June was $88,700, which actually dropped about 7 percent from June 2012.
Overall, the nations soaring home prices, mean one thing to home hunters.
"I don't think we are going to see interest rates go any lower that what we have in the past few years. Prices are starting to go up so now truly is the best time to buy if you want to get the best deal on a house. Right now because are just going to continue to go up," said Christine.
Since June of last year Marion County has seen a 17.7 percent increase in closed sales and 52.4 percent increase in pending sales.