Gainesville Condominium Market Report
Gainesville Florida real estate market report for Condominiums & Town homes SOLD in January 2015. Here you will see the stats on our local condominium market. February shows an increase in available inventory of condos for sale. It’s the start of condo season.
This chart below shows the stats for December 2014 and January and February 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 43 total sales in Feb. and 29 of those sales were Cash Buyers. Closed sales are the same as last month but UP 65% from this time last year. And another month of strong increase is Median Sales Price from last year. Average Sales Price is up 14% from last year as well.
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.