Gainesville FL Real Estate Blog

Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August, rose 6.4 percent to 103.8 from a reading of 97.6 in July, and is 12.4 percent above August 2008 when it was 92.4. The index is at the highest level since March 2007 when it was 104.5.

Lawrence Yun, NAR chief economist, said not all contracts are turning into closed sales within an expected timeframe. “The rise in pending home sales shows buyers are returning to the market and signing contracts, but deals are not necessarily closing because of long delays related to short sales, and issues regarding complex new appraisal rules,” he said. “No doubt many first-time buyers are rushing to beat the deadline for the $8,000 tax credit, which expires at the end of next month.”

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

The Gainesville FL area single family home sales saw a 26% increase in sold listings in September 2009, when compared against September 2008.  New listings saw an decrease of 1%.  Pending sales saw a 18% increase and the average sales price decreased by 11% to $184,531, while market times increased by 78 days.  

The Gainesville FL area Condo/Townhome market saw the average sales price decrease by 10% to $144,348 in September 2009 compared to September 2008.  Likewise, new listings were down 19% and sold listings increased by 17% in September 2009.  Pending sales decreased by 20%, while the average market times increased by 16 days. 

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