Gainesville Real Estate Market Report October 2022
Gainesville Real Estate Market Report October 2022. Here are the October 2022 local market stats for the Gainesville-Alachua County area. Now our report will show stats for both the single family home market, and our condominium & 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 full reports via the link under each of the charts that are displayed. Our local real estate market is strong.
Single Family Homes Market
This is our Gainesville real estate market report for October. New listings that came on the market in October are 265 homes. Our new PENDING contracts are 217. Closed Sales in October were 243 homes. Of those 243 home sales, 61 were cash sales. These October stats shows the market shift to normalcy. The Months Supply of Inventory is now 2.3 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 12.0% from last year.
Gainesville Condominium Market
The chart below shows the stats for the Gainesville CONDOMINIUM Market. Closed condo sales are 65 units for October and 39 of those sales were cash buyers. There were 50 new listings. And in October, there were 56 condos changed to PENDING. Our months supply of inventory is now is 1.2 months. Our Gainesville Real estate market has low inventory of units for sale. Medium time to sale is 64 days. We now have a more normal market compared to what we have been experiencing in the last 2 years.
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 has shifted to a balanced market. Our local Real Estate is an essential business, and buyers actively looking for homes in the current low inventory market. Call us and let talk about BUYING or SELLING your home or condo in the Gainesville Area. Let’s talk about your real estate plans!!