The Ocala real estate market is surging. Actually, that statement speaks more to the future and the immediate past than to today. But there is no doubt in my mind that the future of our real estate market is exceptionally bright. Fortunately, people like Larry Roberts are betting with me.
Mr. Roberts is the logistics and real estate magnate who is putting Ocala on the world map. His developments, Golden Ocala and The Wold Equestrian Center, are monuments to his remarkable creativity. Now, he has made a major bet on demand for ultra luxury mansions with his World Equestrian Estates project. Of course, to succeed on the level that he has, one must think outside the box. One must have a vision, and be totally confident that he can bring his vision to life. To be sure, Mr. Robert’s has both vision and confidence.
His new project is an enclave of three hundred mega mansions. Each will sit on a three acre lot and provide an extraordinary lifestyle few have ever experienced. To be honest, I have seen no estimate of the projected cost of a World Equestrian Estates home. But I have seen the artist’s renditions circulating in the local media. Based on these drawings, I surmise that price will begin in the low eight figures. If I am correct, Mr. Roberts believes the current collapse of the mega home market to be a short term phenomenon.
Is Ocala’s Real Estate Market Surging? What Does The Future Hold For Mega Homes?
Undoubtedly, the sales of ultra luxury homes are suffering at the moment. In fact, sales in Miami and the Hamptons are particularly hard hit. But in Ocala, Larry Roberts is not the only one betting on rapidly growing demand for such homes. For example, the Hempstead Way project boasts sixteen lots not far from the World Equestrian Center. Each lot has in excess of ten acres of land. Therefore, as one would expect, only mega homes will be built here. Additionally, pricing for lot and land begins at over $2 million and rises to over $5.4 million. There are other projects featuring homes in the seven figures in town as well. I am even familiar with one spec home with a price tag nearing $2.4 million which has been completed and is ready to move into.
Statistics Proving That the Ocala Real Estate Market is Surging
Having been a builder and developer in my career, I have a passion for artistic, innovative architecture, engineering and design. Therefore, I am very excited by the extraordinary people in these fields and their amazing creativity. Of course, shows like “The Lifestyles of the Rich and Famous” are so popular because they present us with opportunities to live vicariously. But there is more than that to the potential influx of the amazingly wealthy to our town. In my view, the evolution of Ocala brings with it opportunities for everyone. If the World Equestrian Center and the projects it spawns are to thrive, an incredible infrastructure must grow around them. Undoubtedly, this projects to business opportunities and the creation of high paying jobs that will benefit everyone for decades to come.
Over the last thirty months, Ocala’s real estate market has seen appreciation that can only be described as historic. In the twelve months ended February 28th, 2021 single family homes in our market appreciated by an incredible 41.7% as reported by OMCAR, our local Realtors’ Association. I assume that appreciation continued at a fast pace over the next seven months, though I have not seen any statistics for that period. But we do have statistics for the following twelve months. From October 1st, 2021 through September 30th, 2022, the National Association of Realtors reports that Ocala’s single family homes appreciated by another 18.8%. During that period, our community’s real estate market was among the top ten in the nation. Amazing indeed!
Below are three stories which report on current national real estate market trends. In our view, they report on short term trends and in the intermediate to long term, we see Ocala real estate surging. Enjoy reading:
Real Estate Markets Set to Normalize in 2023 After Nearly Three Years of Pandemic Boom
Sales volume has already started slowing and a turnaround is NOT expected until the second half of next year.
WWW.MANSIONGLOBAL.COM | LIZ LUCKING AND V.L. HENDRICKSON
Luxury home sales plunge 45%, with Miami and the Hamptons hit hardest
Tight supply and higher rates are pushing luxury home prices higher. Read more here: CNBC | DIANA OLIC
The Luxury Home Market Posts Its Biggest Decline in a Decade. ‘It’s Like Crickets.’
After a pandemic-induced bull run, the high-end market has finally faltered thanks to inflation, recession fears and rising interest rates…. Continue reading on the WSJ | KATHERINE CLARKE.
“Owning a home is a keystone of wealth… both financial affluence and emotional security.” –Suze Orman
Larry Roberts and his ilk, through their vision and drive, have opened a door to opportunity in Ocala. Those who live by Napoleon Hill’s mantra, “What the mind of man can conceive and believe, man can achieve!”, need only walk through that door. On the other side is a land where great wealth is created and most visionary of dreams come true.
Andrew Kruglanski, MBA, ABD
Ocala Home Guide Realty