Gainesville FL Real Estate Blog

Gainesville FL Real Estate 2008 Sales Statistics 

After holding fairly stable for a year, pending home sales declined in the face of job losses and an eroding economy, according to the National Association of Realtors^®. 

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in November, fell 4.0 percent to 82.3 from a downwardly revised reading of 85.7 in October, and is 5.3 percent below November 2007 when it was 86.9. The current index is the lowest since the series began in 2001.

Lawrence Yun, NAR chief economist, said a weakening was inevitable. “Mounting job losses and very weak consumer confidence deterred home buyers from signing contracts in November,” he said. “December’s housing market activity could be comparably lower due to ongoing problems in the economy, so a real estate-focused stimulus plan is urgently needed.”

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

The Gainesville FL area single family home sales experienced a 17% decline in new listings in 2008, when compared against 2007.  Pending listings were down 21% and the average sales price was down 11% to $214,334 while market times increased by 26 days. 

The Gainesville FL area Condo/TH market saw the average sales price decrease by 7% to $152,652 in 2008 compared to 2007.  Likewise, new listings were down 32% and sold listings were down by 38% in 2008.  Pending sales decreased by 43%, while the average market times increased by 31 days. 

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