The Alachua County Real Estate Market report covers data for all residential properties. We will then review US Housing statistics and market forecast.
The statistics provided include year to date and month to date information. The report is broken down by the current month with all preceding months in order going back towards the beginning of the year.
Properties were on the market at an average of 103 days, up by 3% compared to 100 days in September of 2018.
What does the average days on market mean?
It means the number of days the home was listed in the MLS before it went pending (under contract) to closed.
The median sales price in Alachua County is $225,500 for the month of September of 2018 and $239,000 year to date. The sales price increase year to date is 5.99% higher than this time last year.
View the rest of this Alachua County FL Market Report for October here:
Now let's move into the US Housing Market statistics.
There is till talk of recession amongst the talking heads and economists. This has many people spooked and not sure what to do with their money. Some are moving to precious metals while others are shorting stocks, buying cryptos or investing in real estate.
It is apparent to all that the yield curve is inverted. It is usually a sign that there’s a recession right around the corner. That coupled with the up and down stock market has caused a lot more conversation about a recession. Most want to know how an economic slowdown will affect home prices.
If we take a look at the National Report per state for the year-over-year change in prices, every single region is seeing positive appreciation. Most states are at or above the national historical average.
The perception is that the level of homes is depreciating; this is just not the case. As you can see, not a single region is depreciating. In fact, the appreciation is more considerable than the historic norm of 3.5%. Price adjustments are healthy, and there are not any red states. They all show appreciation.
To view the rest of the US Housing Statistics view: