Spring is here
Well, it is that time of year again in Gainesville when the Azalea bloom, birds migrate in, and the weather is perfect.
It is also the time of year when condo sales are reaching their peak.The next few months are always busy with parents buying their children a condo to live in while going to school here. It is cheaper than renting. At least it was until the market went crazy and prices hit record highs. Since then the condo market has had some hard times and prices have come way down. It seems to be tapering off and it is cheaper to own than rent – we are even seeing investors buying condos as rental properties again.
It appears that we may have reached the bottom of this sagging real estate market. Investors are in town competing with parents to find the great deals. They are buying up a few “Kiddie Condo’s” of their own to rent or resell down the road causing a multiple offer situation. Click here to see all Gainesville condos for sale
It is still a buyers market with 499 condos for sale in Gainesville as of this writing. Of these there are 105 that are listed as short sales, and only 29 that are bank owned.
In the Northwest, there are 152 for sale ranging in price from $30,000 for a 2 bedroom 1 bath, to $499,999 for a 3 bedroom 3 bath decked out condo. Click here to see condos for sale in the NW
The Southwest has 297 condos available from an asking price of $25,000 for a 2 bedroom 2 bath to $349,900 for a 3 bedroom 3 bath. Click here to see all condos for sale in the SW
The Northeast has 9 available from $69,500 up to $249,000 both are 2 bedroom 2 bath. Click here to see NE Condos for sale
The Southeast has 8 for sale from $44,000 a 2 bedroom 2 bath to $239,000 a 3 bedroom 3 bath. Click here to see SE condos for sale
There were 102 closed since Jan 1, 2011 ranging from $8,500 to $280,000.
At the moment there are 93 under contract waiting to close. These range in price from $30,000 to $449,900. This is the asking price. We don’t get to know the selling price until it is recorded in the Court House.
All in all it is an active market right now. I think everyone is tired of waiting for the market to turn and has decided they will do their part to help Make it turn.
Want the Details? Market Analysis
MAI is the market action index – it tracks how “hot” the market is.