Real Estate Marketing Report for Gainesville Florida - August 2008

By
Real Estate Agent with RE/MAX Professionals BK659643
Welcome to the Gainesville-Alachua County Real Estate Market Update for August 2008.  

The stats for this report are pulled directly from the Gainesville-Alachua County Association of Realtors database.  

These statistics are for Residential Sales only and do not include commercial properties or vacant land sales.

# of HOMES SOLD in August 2008 is  226.

Average # of Days on the Market
(for closed sales) is 127 Days.

AUG 2008 -2BR 3 BR 4+BR Condo Total
#Units Sold    18    104    45    59    226
Avg Sale Price  94,080  179,793  337,414  156,922  198,380
Avg List Price  102,622  190,643  356,690  162,115  209,247
List/Sell/Ratio    91%   94%    94%   96%    95%
Median Sale Price  120,000 174,471  288,000  147,300  168,950


Here is a good summary of the "TYPES" of financing of homes sold in August of 2008 and August 2007.   You will see that more buyers this year are using the FHA program to finance their home purchase than buyers in 2007.  Gainesville is holding strong when compared to other depressed areas in Florida.  I am a firm believer that it is a "Great time to be a Buyer" in Gainesville.

 August    2008
Units
August  2007
Units
TOTAL    226     386
Cash     50      64
Conventional   114     297
Private       3         5
Seller Finance       3          1
FHA Loans      49       16
VA Loans       7          3

***  All data is from Gainesville-Alachua County MLS Database.

My Last Market Report was  for June 2008.   I didn't realize that I had not posted a report for July, but I have been busy with very happy buyers!  

It's truly a buyers' market !!
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Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

Christine, looks like the ratio are all in line with my market up until this last storm. The 3 bedrooms appear the most common of sales as well. Thanks for sharing.

Sep 08, 2008 07:22 AM #1
Rainmaker
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Kathy Torline
ERA Herman Group Real Estate - Colorado Springs, CO
Colorado Springs Real Estate Blog 719-287-1049

Christine:  Nice market report, I especially like the section about financing.

Sep 08, 2008 11:50 PM #2
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Rainmaker
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Christine Bohn

The Bohn Team, Gainesville FL
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