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Since it takes longer to sell homes, and so many homes have to keep adjusting their prices, a lot of people are asking what homes are selling in Alachua County.

The hottest zip codes are 32608 and 32605 – they account for 1 in 4 sales this year.  These zip codes cover most of West Gainesville including new communities like Longleaf, Willow Oak, and Haile Plantation.  There are some excellent schools in these areas, which is part of why they draw families to them.

For every home that has sold so far this year there are two that are still on the market.

The most action has been in inexpensive homes.  Over 40% of the home sales last year closed out under $150,000 and two-thirds of the homes sold for under $200,000.

Selling a home above $750,000? Try to be nice to your prospects! There have only been 4 buyers so far this year.

So if you have to sell your home you have more buyers out there in the lower price ranges, even though there are more homes for sale there is only 15 months of inventory for homes under $150k, where over $300k you are looking at 2-3 years of inventory for sale now.

Absorption Rates Nov 2011

It would take 18 months to sell everything on the market if buyers keep buying at their current rates & nothing new comes on the market.

The surprising thing to me is how large most of these homes are.  I used to expect homes in this price range to be small, like 1,000 sqft or so. The homes selling in this price range are around 1,400 sqft on average.

In fact, homes that have between 1,500 to 2,000 square feet of living space make up the most active part of the market – about 35% of sales so far this year.

Home Sales by Size