May 23, 2016
Inventory in Alachua Country is down again in April, which is driving sales prices up. However, even with the average sales price higher than a year prior, home sales still picked up momentum last month with a 17 percent increase over last year’s numbers. The median sale price also jumped 13 percent from $181,000 to $205,000.
The shift in the median sale price indicates a drop in the inventory of less expensive homes. However, home sales between $200,000 and $250,000 were up 44 percent in April.
New listings for homes priced below $200,000 are down and total inventory for homes priced below $300,000 is down. Furthermore, as even more evidence to exhibit the shift toward higher priced-homes, listings above $200,000 have had faster sales times. The median time for sales between $200,000 and $250,000 was 53 days after the initial listing, which is down 15 percent from a year ago. What’s more, sales between $250,000 and $300,000 sold in a 24 days, which is a whopping 58 percent less time than the year prior.
Sellers across the board, regardless of sales price, received 98.7 percent of their original list price, which is up 95.7 percent from last year, indicating that we have a very strong market on our hands here, and it is definitely one that is favoring the sellers.
Overall sales for Florida were down a negligible 0.6 percent from last year, but the median sales price was up 9.2 percent to $213,000. Moreover, sales across the entire country for all housing types in April were up six percent over a year ago, and the median sales price was up 6.3 percent to $232,500.
For more details on the market stats for April, read the full article at gainesville.com.
