Gainesville FL Condominium Market Report
Gainesville Florida real estate market report for Condominiums & Townhomes SOLD in June 2014 – and I am NOT late in getting this posted this month! This is our PEAK season for condos sales in the Gainesville area.
This chart reflects the stats for April, May and June 2014. The chart below shows New Active Listings, Pending Sales, and Closed Sales. This data is compiled from the Gainesville Multiple Listing Service & Florida Realtors® research and statistical reports. Each month we compile these posts, we plan to publish these monthly reports after the 21st of each month. Bookmark this site for Gainesville real estate information!
Cash Sales percentage of total sales has become a significant issue. In the display below, you can see the large percentage of cash sales in our local Condo & Town Home market. There were 82 total sales in June and 55 of those sales were Cash Buyers. And you will see an increase in closed sales, which is normal for June. If you look below you will note a significant improvement from 2013 to 2014. The Median Sale price is UP 14% from last year.
The Gainesville condominium real estate market continues to be good for buyers. Our market statistics for closed sales show that condo buyers are now getting mortgages for their condo purchases. The biggest obstacle for condominium sales is a buyer’s ability to obtain a mortgage. Each condominium complex will be analyzed by the mortgage lender & underwriters for loan approval. Call me to find out which condo complexes will qualify for FHA Financing. Your lender will want to know if the condominium you are interested in is a “true condo” or a PUD (Planned Unit Development).
Cash Buyers and Investors have excellent opportunities in the Gainesville market.
It’s Condo Buying Season in Gainesville!