Gainesville Florida real estate market report for Condominiums & Townhomes SOLD in August 2014. It’s been a long HOT summer, so let’s talk about condos SOLD in August 2014. The student have rolled in for the Fall Semester at University of Florida and Santa Fe College.
This chart reflects the stats for June, July and August 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 73 total sales in August and 52 of those sales were Cash Buyers. Closed sales held steady for the month compared to last month but the PENDING sales are down – which is normal for “end of season” on student housing. If you look below you will note a significant improvement from 2013 to 2014. The Median Sale price is UP 15% 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).
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Cash Buyers and Investors have excellent opportunities in the Gainesville market.