Gainesville Condo Market Reports May 2015
Here is the latest Gainesville Condo Market Report. Gainesville Florida real estate market report for Condominiums & Town homes SOLD in MAY 2015. Here you will see the stats on our local condominium market. May 2015 stats shows an increase in closed sales and the inventory is down slightly. The Gainesville condo market is full-swing in the summer buying season!
This chart below shows the stats for March, April & May of 2015. New Active Listings, Pending Sales, and Closed Sales are displays for comparison. 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 23rd 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 64 Closed sales in May, and 34 of those sales were Cash Buyers. Finding any lender on a condo is tough, so be prepared when shopping for a lender on a condo purchase. Lenders and their underwriting is scrutinizing the condo association’s budget and ownership ratios to determine if they will offer financing. Closed sales are DOWN 12% from this month last year. The MEDIAN sales price is up 12% from last year.
The Gainesville condominium real estate market continues to be good for buyers. 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.