Gainesville FL Real Estate Blog

Pending home sales have risen for three consecutive months, reflecting the broad impact of the home buyer tax credit and favorable housing affordability conditions, according to the National Association of Realtors®.

The Pending Home Sales Index rose 6.0 percent to 110.9 based on sales contracts signed in April. This figure is up from 104.6 in March, and is 22.4 percent higher than April 2009 when it was 90.6 and reflects increases of 7.1 percent in March and 8.3 percent in February.

Pending home sales are at the highest level since last October when the index reached 112.4 and first-time buyers were rushing to beat the initial deadline for the tax credit. The data reflects sales contracts and not closings, which usually occur with a lag time of one or two months.

Lets look at May real estate sales to see how the housing recovery is progressing in Gainesville FL.

Gainesville FL Real Estate Sales Statistics May 2010

The Gainesville FL area single family home sales saw sold listings increase by 17% in May 2010, when compared against May 2009.  New listings saw an increase of 13%.  Pending sales saw a 20% decrease and the average sales price decreased by 7% to $183,049, while market times increased by 29 days.

The Gainesville FL area Condo/Townhome market saw the average sales price increase by 24% to $101,785 in May 2010 when compared to May 2009.  While new listings were up by 11% and sold listings increased by 15% in May 2010.  Pending sales decreased by 9% when compared to May 2009, while the average market times decrease by 4 days. 

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