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Gainesville FL Real Estate Market Trends – March 2016

April 29, 2016 · No Comments

home buyer

According to the National Association of Realtors, mortgage rates are now lower than they ended in March. That means that rates are not only near the lows for the year to date, they are also close to the lowest rates in three years. These lower rates translate into increased buying power and/or improved ability to qualify for a mortgage.

A record number of Americans are actively searching and looking at the current inventory on Realtor.com®. We currently have 2% fewer homes for sale in the U.S. relative to last year, but we’ve seen 137,000 new listings come onto the market so far in April.

Looking ahead, great weather will likely draw even more people to look at open houses and available homes over the rest of the month. According to Cleveland Research, after a cooler than normal start to April, the weather forecast for the next 10 days is expected to be “near perfect” across many of the largest housing markets in the country, especially in the central and eastern U.S.

But who cares about a national or regional weather or housing forecast? What matters most are the trends and conditions in your neighborhood.

Gainesville FL Real Estate Market Trends – March 2016

The Gainesville FL area single family home sales saw new listings increased by 14.92% for March 2016 when compared with March 2015 numbers.  Sold listings increased by 1.26% and pending sales increased by 6.89%. The average sales price increased by 3.07% and market times dropped by 7 days.

Gainesville Area
Single Family
New Listings Pending Sales Sold Listings Avg. Sales Price Days on Market
Mar 2016 462 310 240 $208,379 123
 Mar 2015 402 290 237 $202,160 130

The Gainesville FL area Condo home sales saw new listings increase by 39.56% in March 2016 when compared to March 2015 numbers.  Sold listings increased by 41.81%, and pending sales increased by 3.61% compared to 2015.  The average sales price increased by 39.40%, and market times decreased by 37 days.

Gainesville
Area Condo
New Listings Pending Sales Sold Listings Avg. Sales Price Days on Market
 
Mar 2016
127 86 78 $113,328 103
 
Mar 2015
91 83 55 $81,504 140

For the latest Gainesville FL real estate market conditions in your area, please call me at 888-424-8841 or visit MyGatorCondo.com.

Courtesy Gainesville FL Realtor Linda Luetjen.

Categories: Area Info · Market Trends · North Central Florida Real Estate · Real Estate · Seller Info
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