Gainesville Florida real estate market report for Condominiums SOLD in October 2015.
These stats for the Gainesville condominium market are compiled from our local MLS and Florida Realtors Research Department. The October 2015 stats shows a normal slow in our Gainesville condo market for fall season. The pending sales are down, and new listings are stable for the second month of our fall season. Closed sales are up a bit from last month.
This chart below shows the stats for August, September and October 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!
This next table compares October 2015 to October 2014. 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 47 Closed sales in September, and 24 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. Ask your Realtor if a unit is a true condo or a PUD (Planned Unit Development). Lenders and their underwriting is scrutinizing the condo association’s budget and ownership ratios to determine if they will offer financing. Closed sales the significantly up almost 56% from last year. The MEDIAN sales price is up 3% from last year. Pending Sale are down 6% from this time 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). Condominiums could be a good real estate investment for the Gainesville market.
Cash Buyers and Investors have excellent opportunities in the Gainesville market.