Although progress is slow, Gainesville’s real estate market continues to improve. A look at home and condo sales in Gainesville and Alachua County during the first half of 2014 reveals the following:
Gainesville home sales
Median sales price of homes sold in Gainesville and Alachua County was $144,000, an increase of a little less than 1% over the first half of 2013, when the median sales price was $143,000.
The average time to sell a home in Gainesville and Alachua County decreased 5.8%. It took an average of 145 days to sell a home, as opposed to 154 days in the first half of 2013.
Short sales and foreclosures
Short sales and foreclosures continue to comprise a substantial share of home sales in Gainesville and Alachua County. During the first half of 2014, distressed sales represented 24.2% of all homes sold in Gainesville and Alachua County, down from 26.7% during the first half of 2013.
Gainesville condo and townhome sales
The Gainesville condo and townhome market is recovering nicely.
Median sales price of Gainesville and Alachua County condos and townhomes increased 14.3% over the first half of 2013. The median sales price of Gainesville condos and townhomes in the first half of 2014 was $80,000, vs. $70,000 during the first half of 2013.
The number of Gainesville and Alachua County condos sold increased 5.7% over the first half of 2013.
Short sales and foreclosures
Short sales and foreclosures represented 24.4% of all condo sales during the first half of 2014 — a significant drop from the first half of 2013 when distressed sales represented 42% of all condo sales.
The Gainesville real estate market continues to improve. Distressed sales will continue to hold the rise in sold prices down in neighborhoods where there are a lot of short sales and foreclosures.
