Gainesville FL Real Estate Blog

Congress has voted to extend the current higher Fannie Mae, Freddie Mac and FHA loan limits through 2010. The present loan limits would expire at the end of 2009 and revert to previous lower limits. The higher limits, along with the home buyer tax credit extension, are necessary to keep the markets moving at this critical time,” said National Association of Realtors President Charles McMillan.

“Home sales have shown significant movement upwards in the past six months and reduced inventory in some segments of the housing market, but not in all. Home purchases in the middle-income and higher brackets have not moved much, and those markets must improve before we can experience a fully sustained housing recovery. These higher loan limits will help motivate qualified home buyers to purchase in those markets,” McMillan said.

Let’s look at Gainesville real estate sales  for October to see how the housing recovery is progressing locally. 

Gainesville Real Estate Sales - Single Family

The Gainesville FL area single family home sales saw a 12% increase in sold listings in October 2009, when compared against October 2008.  New listings saw an increase of 13%.  Pending sales saw a 47% increase and the average sales price decreased by 15% to $179,867, while market times increased by 57 days.   

Gainesville Real Estate Sales - Condo/Townhome

The Gainesville FL area Condo/Townhome market saw the average sales price decrease by 5% to $128,926 in October 2009 compared to October 2008.  While new listings were up 6% and sold listings increased by 13% in October 2009.  Pending sales increased by 19%, while the average market times increased by 98 days. 

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