Snapshot of Gainesville Real Estate Market
So what's going on with the Gainesville real estate market? This first chart shows that 2007 was a better year than 2008, and 2008 was a better year than 2009. The first quarter of 2009 was particularly gruesome, with median sales price bottoming out at $135,000 in February. As the year progressed, prices seemed to stabilize and move closer to 2008 levels.
The bulk of real estate sales in the Gainesville area occurred in the Northwest region, as illustrated by the graph below:
Single-Family Homes: We Are Still in a Buyer's Market
As of December 18, 2009, there are 1573 single-family homes for sale in the Gainesville real estate market, which means that it will take approximately 10 months to sell all of the homes currently in inventory.
The Gainesville area condo market has taken a beating this year. I will break down the specifics in a follow-up article.
Coleen DeGroff, MBA
Coldwell Banker M. M. Parrish, Realtors
3870 NW 83rd Street
Gainesville, FL 32606
Office: 352-372-5375; Cell: 352-359-2797
