Gainesville FL Real Estate Blog

Home sales surged in the fourth quarter of 2009 with many areas seeing double digit gains according to the National Association of Realtors. Total existing-home sales (single-family and condo) jumped 13.9 percent above the third quarter and 27.2 percent above the fourth quarter of 2008. Distressed property sales accounted for 32 percent of the fourth quarter transactions, down from 37 percent from 2008.

Lawrence Yun , NAR chief economist, said the first-time home buyer tax credit, combined with record low interest rates, played a dominant role in fourth quarter sales. Yun went on to say, “With inventory levels trending down over the past 18 months, we expect broadly balanced housing market conditions in much of the country by late spring with more areas showing higher prices.”

Lets look at January Gainesville FL real estate sales statistics to see how the housing recovery is progressing locally.

Gainesville FL Real Estate Sales Statistics – January 2010

The Gainesville FL area single family home sales saw sold listings remain consistant in January 2010, when compared against January 2009.  New listings saw an increase of 27%.  Pending sales saw a 9% increase and the average sales price increased by 8% to $132,701, while market times increased by 8 days.

The Gainesville FL area Condo/Townhome market saw the average sales price increased by 40% to $77,741 in January 2010 compared to January 2009.  While new listings were down 4% and sold listings decreased by 24% in January 2010.  Pending sales increased by 40% when compared to January 2009, while the average market times increased by 15 days.

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