This is a real estate market analysis for Hickory Forest, a subdivision located off SW Archer Road in Gainesville, FL in Alachua County.
Homes on the Market
There are 6 homes for sale in the MLS right now in Hickory Forest. They range from $185,900 to $212,500 and 1,433 to 1,815 sqft.
To see all the specifics on the homes for sale now just click on the house photo.
There was no home sold yet this year, and 1 home under contract waiting to close. It was listed at $200,000 ($116/sqft) when it got a contract.
In 2007 prices began to slide a little and it took an extra month to sell homes in Hickory Forest. In 2008 prices were down about $20,000 from the peak (from an average of $235,000 in 2006 to $205,000 in 2008). The average price per sqft was $146 in 2006 and $132 in 2008. The homes that sold in 2008 were originally listed at $141/sqft and were down to $138/sqft when they went under contract.
11 homes were marketed in 2008 and didn’t sell. They averaged an asking price of $235,000 ($145/sqft) when they first came onto the market and $227,000 ($140/sqft) when they came off the market. As you can see, there is a fairly large gap between the $140/sqft they were asking and the $132/sqft that people were willing to pay.
Time to Market
As prices have come down the length of time it takes to sell homes has increased. The average time to market for homes was the lowest in 2005 at 2 months. Since then it has been creeping up – from 3 months in 2006 to 4 months in 2007 and then jumping to almost one year in 2008.
Number of Sales
Across Alachua County we have seen fewer sales in recent years. In Hickory Forest there were 7 sales in 2008, about 50% the volume of 2007 and 36% of 2006.
Homes for Sale in Hickory Forest