Gainesville Florida real estate market report for Condominiums & Townhomes SOLD in October 2014. Here you will see the stats on Condos and Townhouse data for October 2014. Our fall season now eases into cooler weather yet our market stats are still cooking!
This chart reflects the stats for August, September and October 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 30 total sales in October and 21 of those sales were Cash Buyers. Closed sales are down for October, which is typical for this time of year. BUT – look at the strong increase is Median Sales Price from last year! The fall semester rush is over in the student condo demographics, and will be normally slow through the first of the 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.