A frenzied Marion County home sales market means sellers are now cashing in on high profit margins, while buyers are being forced to make snap decisions just to secure a home.
The hot market is also putting a squeeze on renters, who are now seeing the availability of rental homes shrink and the prices skyrocket. As prices rise, experts fear many middle class workers may get priced out of the single-family home sales market.
The bottom line, real estate experts say, is Marion County has a huge shortage of homes to buy and places to rent. And, those same officials say, it will get worse before it gets better.
Manufactured home prices up 50.1%
Sale prices of manufactured homes also continue to escalate in Marion County, with the average price in January climbing by 50.1% in one year.
The average sale price of a manufactured home rose to $122,976 in January, up from $81,954 in January 2020, the reported stated.
Meanwhile, sales of Marion County s manufactured homes declined by 4.2% in January compared with the same month a year ago. January saw 46 existing manufactured homes sold by Realtors, compared to 48 in January 2020.
Overall, total sales of manufactured homes hit $5.7 million in January, up 43.8% from January 2020’s $3.9 million.
Pending manufactured home sales declined by 7.7% for the month of January, from 78 in 2020 to 72 in 2021.