October is National Breast Cancer Awareness Month. Major breast cancer charities raise funds for research and medicine internationally. This month we have football in full swing and the fall festivals have started. It is a great time for outdoor activities.
Let’s move on to the condition of the current housing market starting with single-family homes in Gainesville FL.
Sold single family homes were down this year compared to last by 25%. 2018 had 172 homes closed compared to 129 for September of 2019. Year to date closings are down as well by 1.8%. So far this year there have been a total of 1,743 single family homes that have closed.
As seen in the graph below, new listings for the month of September were up. 156 homes came onto the market compared to 172 from this time last year. That is a 10.3% increase. Year to date 2,290 homes were listed compared to 2,204 from last year. A 3.75% decrease for the year.
Pending home sales for Single Family for August were up by 5.45%. September of 2019 had 8 more homes under contract with 155 homes pending vs September of 2018 at 147 homes.
The average days on market have increased by 1 day from 98 days in 2018 to 99 days in September of 2019. That is 1% more time on the market than the previous year.
The median sales price has gone from $225,500 in August 2018 to $235,000 in September 2019. That is a 4.21% increase in the median sales price. The average across the nation historically is 3%.
In September of 2018 homes listed sold at 95% of list price and that decreased by 0.2% compared to 96% in 2019. There has not been much change year to date.
This is a measure of how many months it would take for the current inventory of homes on the market to sell, given the current pace of home sales.
There were 3 months supply in September of 2018 which grew to 4 in September of 2019.