A national homebuilder is increasing its footprint in Central Florida, even as the region sees its inventory of unsold housing grow.
Colorado-based Century Communities said it launched Sable Run, a development that will bring 19 single-family homes under the company’s Century Complete brand to Ocala, Florida.
Homes in Sable Run are set to start in the $300,000s, with two four-bedroom floor plans ranging from 1,843 square feet to 2,067 square feet. Construction on the community has already begun, and sales are expected to open in mid-October, according to Alyson Benn, vice president of corporate marketing for Century.
Roughly 90 miles northwest of Orlando, Ocala has seen explosive growth in the wake of the pandemic. From July 2023 to July 2024, the population of the metropolitan area of the self-proclaimed Horse Capital of the World grew about 4% to 428,905, making it the fastest-growing metropolitan area in the United States for the period, according to the U.S. Census Bureau.
Sable Run joins five other Century Communities developments in Ocala’s Marion County. The other developments are Marion Oaks, Bennah Oaks, The Collection at Ocklawaha, Silver Springs Shores and West Oak.
“Century Complete is building multiple communities in the Ocala area because it offers the perfect balance of affordability, lifestyle and long-term growth for our homebuyers,” Benn told Homes.com in an email. “The area’s cost of living remains lower than many parts of Florida, allowing families, retirees and first-time buyers to stretch their budgets further while still enjoying quality homes.”
Market faces headwinds
Ocala’s median home price was $279,000 in August, according to Homes.com research. Though that is below Florida’s median home price of $381,050, Ocala’s price represents a 0.4% year-over-year increase while Florida’s broader market saw a 1% decline.
The median home price in Ocala is up nearly 60% over 2019.
While the price has risen, so has the inventory of homes for sale. The number of listings in the market rose in August by 30% over the previous year, according to Homes.com. That's at a faster clip than the 21% increase seen in the rest of the state.
“Looking ahead, population growth is expected to slow to the 1% range from 2026 through 2029, and consumer spending is projected to be slower during the same period,” director of data analytics for Homes.com Lisa McNatt said. “Those factors, along with the likelihood of slower growth in weekly wages, will present a headwind for housing demand. On the other hand, the finance and real estate sector has been one of the biggest contributors to economic growth, and that is projected to continue for the next few years.”
The new development is less than five miles from a recently built commerce park that has attracted major employers, including Amazon and FedEx.