Are you considering buying or selling a home in Gainesville, Florida? Look no further! We've compiled the latest real estate market data to help you make informed decisions.
In the dynamic landscape of Gainesville's real estate market, the data for February 2024 paints a picture of continued strength and growth. With a Seller's Market prevailing, the gauge clearly indicates that Gainesville is a hotspot for those looking to sell their properties.
Let's delve into the key metrics shaping the market and gain insights into the trends that define the city's real estate landscape.
Is Gainesville, FL a Buyer's or Seller's Market?
- Status: Seller's Market
- Difference Since February 2023: Gainesville has consistently remained a Seller's Market.
Key Takeaway: Gainesville is a Seller's Housing Market, indicating higher prices and faster home sales.
Housing Prices in Gainesville, FL:
Median Sold Price:
- February 2024: $305,238
- Price per Sqft: $196
- Difference Since February 2023: +$66,886 (+28.1%)
Key Takeaway: Homes in Gainesville have seen a substantial 28.1% increase in median sold prices compared to the previous year.
Summary: The median home sold price in Gainesville was $305,238 in February 2024, up 28.1% from last year, and the median price per square foot was $196.
Housing Prices by Bedroom Count - February 2024 vs. February 2023:
| Bedroom Count | Feb 2023 | Feb 2024 | Change |
|---|---|---|---|
| 1 Bedroom | $114.5K | $130K | +13.5% |
| 2 Bedrooms | $177.1K | $185K | +4.4% |
| 3 Bedrooms | $269.6K | $309.6K | +14.8% |
| 4 Bedrooms | $354.3K | $426.9K | +20.5% |
| 5+ Bedrooms | $495K | $590.7K | +19.3% |
Summary: Gainesville housing prices by bedroom type for February 2024 compared to the previous year.
Median Sold Price Compared To Nearby Cities - February 2023 vs. February 2024:
| City | Feb 2023 | Feb 2024 | Change |
|---|---|---|---|
| Gainesville | $238.3K | $305.2K | +28.1% |
| Alachua | $329.5K | $337.9K | +2.6% |
| High Springs-Alachua | $326.1K | $329.9K | +1.2% |
Summary: Median Sold Price comparison of Gainesville, FL with other nearby cities for February 2024.
Housing Supply in Gainesville, FL - February 2024 vs. January 2024:
Number of Homes For Sale:
- January 2024: 839
- February 2024: 889
- Change: +6.0%
Summary: The Gainesville real estate market had 889 homes for sale in February 2024, a 6.0% increase compared to January 2024.
Homes For Sale By Bedroom Count - February 2024 vs. January 2024:
- 1 Bedroom: +28.0%
- 2 Bedrooms: +15.1%
- 3 Bedrooms: +3.6%
- 4 Bedrooms: +3.2%
- 5+ Bedrooms: -3.9%
Summary: Gainesville housing inventory by bedroom type for February 2024 compared to the previous month.
Number of Homes Sold - January 2024 vs. February 2024:
| Jan 2024 | Feb 2024 | Change |
|---|---|---|
| 129 | 157 | +21.7% |
Asking Price vs. Sold Price:
- 104 Homes Were Sold Under Asking
- 36 Homes Were Sold At Asking
- 17 Homes Were Sold Over Asking
- 66%, 23%, 11%
Key Takeaway: 66.2% of homes in Gainesville sold below asking price last month.
Summary:
- A total of 157 homes were sold or pending in Gainesville in February 2024, up by 21.7% month-over-month. Of the 157 sold homes, 66% were sold under asking, 23% were sold at asking, and 11% were sold over asking.
Gainesville, Florida Real Estate Market Report - February 2024
Are you considering buying or selling a home in Gainesville, Florida? Look no further! We've compiled the latest real estate market data to help you make informed decisions. In February 2024, Gainesville maintained its status as a Seller's Market, with housing prices on the rise and properties moving quickly.
Market Overview:
Is Gainesville, FL a Buyer's or Seller's Market?
- Status: Seller's Market
- Difference Since February 2023: Gainesville has consistently remained a Seller's Market.
Key Takeaway: Gainesville is a Seller's Housing Market, indicating higher prices and faster home sales.
Housing Prices in Gainesville, FL:
Median Sold Price:
- February 2024: $305,238
- Price per Sqft: $196
- Difference Since February 2023: +$66,886 (+28.1%)
Key Takeaway: Homes in Gainesville have seen a substantial 28.1% increase in median sold prices compared to the previous year.
Summary: The median home sold price in Gainesville was $305,238 in February 2024, up 28.1% from last year, and the median price per square foot was $196.
Housing Prices by Bedroom Count - February 2024 vs. February 2023:
| Bedroom Count | Feb 2023 | Feb 2024 | Change |
|---|---|---|---|
| 1 Bedroom | $114.5K | $130K | +13.5% |
| 2 Bedrooms | $177.1K | $185K | +4.4% |
| 3 Bedrooms | $269.6K | $309.6K | +14.8% |
| 4 Bedrooms | $354.3K | $426.9K | +20.5% |
| 5+ Bedrooms | $495K | $590.7K | +19.3% |
Summary: Gainesville housing prices by bedroom type for February 2024 compared to the previous year.
Median Sold Price Compared To Nearby Cities - February 2023 vs. February 2024:
| City | Feb 2023 | Feb 2024 | Change |
|---|---|---|---|
| Gainesville | $238.3K | $305.2K | +28.1% |
| Alachua | $329.5K | $337.9K | +2.6% |
| High Springs-Alachua | $326.1K | $329.9K | +1.2% |
| Ocala | $274.9K | $278.3K | +1% |
| St. Augustine | $484.4K | $495K | +16% |
Summary: Median Sold Price comparison of Gainesville, FL with other nearby cities for February 2024.
Housing Supply in Gainesville, FL - February 2024 vs. January 2024:
Number of Homes For Sale:
- January 2024: 839
- February 2024: 889
- Change: +6.0%
Summary: The Gainesville real estate market had 889 homes for sale in February 2024, a 6.0% increase compared to January 2024.
Homes For Sale By Bedroom Count - February 2024 vs. January 2024:
- 1 Bedroom: +28.0%
- 2 Bedrooms: +15.1%
- 3 Bedrooms: +3.6%
- 4 Bedrooms: +3.2%
- 5+ Bedrooms: -3.9%
Summary: Gainesville housing inventory by bedroom type for February 2024 compared to the previous month.
Number of Homes Sold - January 2024 vs. February 2024:
| Jan 2024 | Feb 2024 | Change |
|---|---|---|
| 129 | 157 | +21.7% |
Asking Price vs. Sold Price:
- 104 Homes Were Sold Under Asking
- 36 Homes Were Sold At Asking
- 17 Homes Were Sold Over Asking
- 66%, 23%, 11%
Key Takeaway: 66.2% of homes in Gainesville sold below asking price last month.
Summary:
- A total of 157 homes were sold or pending in Gainesville in February 2024, up by 21.7% month-over-month. Of the 157 sold homes, 66% were sold under asking, 23% were sold at asking, and 11% were sold over asking.
Days on Market for Gainesville, FL - February 2024 vs. February 2023:
Average Sale Time:
- Feb 2023: 38 Days
- Feb 2024: 45 Days
- Change: +17.1%
Key Takeaway: Many homes in Gainesville are selling fast; if you're buying, plan to act quickly.
Breakdown of Home Sale Times:
- Under 30 Days: 55%
- In 30 - 90 Days: 29%
- Over 90 Days: 16%
Summary: During February 2024, 157 homes were sold in Gainesville; 55% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
In Conclusion
Gainesville's real estate market continues to favor sellers, with rising home prices, increased demand, and a relatively low inventory of available homes. Whether you're looking to buy or sell, it's crucial to stay informed about current market conditions.
Ready to make your move in the Gainesville real estate market? Contact Bosshardt Realty today for expert guidance on buying or selling your property. Our experienced team is here to help you navigate the market and achieve your real estate goals. Don't miss out on the opportunities in Gainesville - reach out to Bosshardt Realty now!
