This is a real estate market analysis for Brookfield, a subdivision located off NW 23rd Ave in Gainesville Florida in Alachua County.
Homes for sale now
Brookfield Homes for Sale
There are 3 homes for sale right now in Brookfield. The averages for these homes are:
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Size
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2,245 sqft
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Bedrooms
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4
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Baths
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2.7 |
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Original list price
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$286,600 ($129/sqft) |
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Current list price
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$281,600 ($127/sqft)
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Market Time
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2 months
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To see all the specifics on the homes for sale in Brookfield right now just click on the house photo.
Recent Activity
4 homes have sold so far this year, ranging from $210,000 to $325,000. The price per square foot ranges from $103/sqft to $128/sqft depending on size, condition, and amenities. On average they were on the market a year before selling, and sales were for apx $18,000 less than the original asking prices.
Historical Trends
Similar to most of Gainesville & Alachua County, prices have declined since 2006 when they reached an average of $303,000 ($140/sqft). In 2008 the average had dropped 10% to $275,000 ($118/sqft). Also, it took between 3 and 4 months longer to sell the homes that closed in 2008. (That doesn’t mean that all homes sell in that length of time, many that never sell are on the market much longer before they are removed.)
There were only 2 homes listed in 2008 that didn’t sell eventually, down from 9 homes in 2007. They were fairly in-line with the stats of the homes that did sell by the time they came off the market, so there is probably a reason besides price and size that kept buyers from snapping them up.
For example – one home for sale had no photos posted in the MLS for buyers to see, the other had a 15 word description entered for it.
Market stats for Brookfield – click for larger image
Absorbtion
The rate of sales has been slowing down over the years: 2006 had 8 sales, 2007 had 7 sales, and 2008 had 5 sales. There have already been 4 sales in 2009, but at a much reduced price per square foot ($118/sqft average). It seems that there is buyer demand if homes are offered for under $130/sqft in Brookfield, but things are slow to move above that point.
If I only look at prior year sales I’d say that there may be only 1 or 2 more sales this year, but that seems unrealistic since it is only March.
note: There is a peak seen in the number of sales around 2003, most likely resulting from new construction in the neighborhood.