You are reading the 3rd Quarter 2010 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.
This year’s fall slow down is in line with normal expectations. Unfortunately there are also higher inventory levels than normal and that is creating low absorption rates and has nudged average prices down.
The majority of residential inventory on the market right now is listed for under $200,000 (almost 1,200 properties!).
The silver lining for buyers is that that the average home they can afford is both newer and larger than what they could have bought a year ago. In the 3rd Quarter the largest cluster of purchases were home buyers who moved into homes that are between 1,500 and 2,000 square feet and they paid an average of $176,000 for homes in that size bracket.
Another bit of good news is that the luxury segment of the market has seen some activity this year and continues to. It’s possible that the tax credit has released cash for move-up buyers or maybe the fear of inflation is nudging people into buying more real goods. Either way it’s nice to see some activity come back into this market segment.
In Alachua County: Residential Real Estate
The average price this year about the same as last year ($191,547 vs. $191,573), while the average for this quarter is down compared to a year ago and compared to last quarter. The number of days a home is on the market didn’t rise, but the list to sell ratios are not improving, and the # of months of inventory has gone up again.
Buyers have an advantage in negotiations right now because there are usually several homes that meet their needs, allowing buyers to move on if a seller’s bottom line doesn’t agree with their own walk-line.
The full report has stats on active, pending, and sold real estate for 3rd Quarter and the year to date, as well as information on price trends, days on the market, and inventory supplies by price bracket.
Click Here to download the Gainesville & Alachua County Real Estate Report for 3rd Quarter 2010. (Adobe PDF file)
How to Read It
Click Here to download the 3rd Quarter 2010 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 3rd Quarter of 2010, 2009, and 2008.
- At the top right of most pages you will find the details for the entire year to day for 2010, 2009, and 2008.
- Pages that are not set up that way each have specific information comparing activity in the 3rd Quarter to previous 3rd Quarter, or graphs comparing the 2010 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. 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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