Gainesville FL Real Estate Blog

The National Association of Realtors^® has stepped up its challenge to lawmakers encouraging them to take new, decisive actions to address the continuing problems in the housing industry, as well as the ongoing economic crisis.Let’s take a look at the sales statistics for September 2008 to see how the Gainsville FL real estate market looks: 

“Our members see firsthand the impact that an unstable housing market is having on communities all across this great country,” said Richard F. Gaylord, NAR president. “The U.S. Treasury and Congress need to work together to ensure that the American people - not Wall Street and large banks - benefit from the economic recovery plan.”

NAR sent a letter last week to U.S. Treasury Secretary Henry Paulson calling on him to refocus the Federal Housing Finance Agency’s efforts on restoring strength to the mortgage-backed securities market, which would help lower mortgage rates for all home buyers and for those who need to refinance.

Let’s take a look at the Gainesville FL real estate sales statistics for October 2008 to see how the market looks in our area:

The Gainesville FL area single family home sales experienced a 29% decline in new listings in October 2008, when compared against October 2007.  Pending listings were down 40% and the average sales price was down 5% to $215,480 while market times increased by 27 days. 

The Gainesville FL area Condo/TH market saw the average sales price decrease by 5% to $138,249 in October 2008 compared to October 2007.  Likewise, new listings were down 37% and sold listings were down by 55% this October.  Pending sales decreased by 62%, while the average market times increased by 64 days. 

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