Gainesville Real Estate Market Report October 2020
Gainesville Real Estate Market Report for October 2020. Here is the 7th full month of statistical data about our local real estate market that were DIRECTLY impacted by the COVID-19 Pandemic. We are now combining our monthly market reports as one report. Now our report will show stats for both the single family home market, and our condominium and townhouse market. You will see both the single family homes and condominiums sections below with detailed stats for each category. You will find other statistics on each chart. We love numbers and hope you enjoy our monthly market reports. You can also download the reports under each of the charts. **Note these October stats are the 7th month’s indicator to the COVID-19 pandemic.
Single Family Homes Market
This is our Gainesville real estate market report for October . New listings that came on the market in October are 310 homes. Our new PENDING contracts are up to 304. Closed Sales in October were 275 homes. The Months Supply of Inventory is record-low of 2.1 months. We sure love to keep track of our market stats and will be sharing these reports each month. The charts will show statistics for the current year, then compared to last year and the change when comparing each year. The stats are important in our local area. Average Sales Price is up 7.9% from last year. The Dollar Volume numbers are up almost 39% from last year. With our low inventory, buyer demand is driving prices up. The buyers are buying. And sellers are selling – even during the COVID-19 pandemic.
Gainesville Condominium Market
The chart below shows the stats for the Gainesville CONDOMINIUM Market. Closed condo sales are 75 units for October, and 36 of those sales were cash buyers. There were 88 NEW LISTINGS. And in October, there were 60 condos changed to PENDING. Our months supply of inventory is 2.8 months. Our Gainesville Real estate market has low inventory on units for sale. Listings are selling faster, which is shown under medium time to sale or medium time to contract percentage. Median Sales Prices are up.
Gainesville-Alachua County Association of Realtors® provides their statistics to the Florida Realtors® each month and they compile statewide data that allows them to compile these reports. Each month we will publish Gainesville’s real estate statistics. This data is compiled by Florida Realtors® Research & Statistics division and is available after the 23rd of each month. Our monthly market reports help us understand Gainesville’s market condition.
The Gainesville FL Real Estate market is STRONG, even with the COVID-19 Pandemic. Real Estate is an essential business, and buyers actively looking for homes in the current low inventory market. It is a seller’s market. Call us and let talk about BUYING or SELLING your home or condo in the Gainesville Area.