You are reading the 2009 Real Estate Report for Alachua County & Gainesville. We take a look at activity and the strength of the real estate market each month and share what we see with you. The report comes from information that local REALTORS® update in the local multiple listing service and won’t include every single transaction in the County.
Overview: 2009 Real Estate Report
2009 was an interesting year for Gainesville Real Estate.
Click Here to download the 2009 Real Estate Report for Gainesville & Alachua County.
With high to very high absorption rates it is certainly a buyer’s market, and so most buyers expected to find amazing deals. Sometimes they were happily surprised, and sometimes they were faced with the reality that certain segments of the Alachua County Market were actually doing a brisk business.
Sellers were cautious, many only listed their homes if they had to sell or really wanted to move on with life. Our inventory levels dropped 36% since 2007 levels, and 16% since 2008.
The sales volume dropped from 2008 to 2009, but so did inventory levels. That is good news because overall the percentage of residential properties that sold was almost the same in 2009 as prior years:
- 2007 saw 46% of the homes on the market actually sell
- 2008 dropped to 39% of the listed homes selling
- 2009 increased to 42%!
(These numbers are for single-family homes and attached properties like condos and town homes.)
Activity in the month of December 2009 was stable compared to November 2009 and much better than Dec 08. The number of homes sold in Dec was up 16% year to year and the homes that sold were on the market almost a month less time than a year before. We saw another slight increase in average prices in December, so prices have been pretty stable for several months in a row.
Single-family homes in the lower price brackets had the greatest demand in 2009 while expensive parcels of vacant land saw the least demand.
In 2009 Single Family homes under $200k accounted for 62% of the market. That is a huge increase from the 2008 level of 50%! Average sale prices are down by 10% for 2009, partly because more lower priced homes sold in 2009 than 2008. That means demand for lower priced homes was up, not that prices for all homes came down by that much.
With 12 months of inventory available for single family homes, 21 months for Condos, and 55 for land we are still very much in a buyer’s market in Alachua County.
The trick for buyers is to understand the dynamics in the different market segments to know where the best deals are to be had.
The secret for sellers right now is to understand how these trends are affecting their area and to price their homes accordingly.
The full report has stats on active, pending, and sold real estate for October and the year to date, as well as information on price trends, days on the market, and inventory supplies by price bracket.
How to Read It
Click Here to download the 2009 Real Estate Report for Gainesville & Alachua County. (Adobe PDF file)
- The header of each page tells you what information is being reported on that page.
- At the top left of most pages you will find details for December of 2009, 2008, and 2007.
- At the top right of most pages you will find the details for the entire years of 2009, 2008, and 2007.
- Pages that are not set up that way each have specific information comparing activity in December to previous December, or graphs comparing the 2009 market activity going back up to five years.
Interested in Past Reports?
Based on information from the Gainesville-Alachua County Association of REALTORS or its Multiple Listing Service for the period 1/1/09 – 12/31/09. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the market.
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