Gainesville’s single family housing is quickly approaching a seller’s market with the Supply of Inventory dropping to 6.9 months.  This continues a strong declining trend seen since the peak of 15.4 months in June of 2009, and is being driven by a 52.5% year-over-year increase in New Pending Sales.  The continued strong demand and resulting decrease in Active Listings (-10.8% year-over-year) has pushed the average sale price from $175,555 to $194,646.  Expect a return to more moderate price growth due to an increase in new listings as sellers are raising their estimation of the value of their homes.

Don’t be too alarmed by rising prices though… home values are just rebounding after negative growth attributable to distressed assets being absorbed by the marketplace.  There are still lots of homes for sale at fair prices, and now is a great time to invest in the right property.  If you are looking to purchase, expect to act quickly as well priced homes are not staying on the market long and often result in multiple offer scenarios.  Contact Miller Real Estate today to learn about the advantages of using our team of real estate professionals to help you navigate the ever-changing marketplace! 

This article contains our interruption of statistics included in Gainesville-Alachua County Association of REALTORS® Monthly Market Detail – August 2013 for Single Family Homes.  A copy of the full report can be obtained by contacting Miller Real Estate at 352-872-5704. 

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