September 26, 2016
Buckingham Forest is located in northwest Gainesville just south of Newberry Road and west of 75th Street/Tower Road. The neighborhood features charming homes built in the late 1970s. Homes here typically range between 1,800 and 3,000 square feet and average in price from $229,000 to $359,895.
The big news for this neighborhood is the inventory. With only three homes on the market here and 2.6 months of inventory, there is definitely a seller’s market in this neighborhood. Typically, six months of inventory represents a balanced market, with more than six month indicating a buyer’s market and less than six months indicating a seller’s market.
What is equally as notable here is the consistently upward trend not only in the average price per square foot of homes, but also in the average sales price. The average sales price has increased over $28,000 in the last 12 months and the average price per square foot has increased more than eight dollars over the past year.
Furthermore, the average seller discount has dropped over 2% in the last nine months, which also favors the sellers in this market.
Buckingham Forest is made up of three neighborhoods including Buckingham South, Buckingham East and Buckingham West. The entire neighborhood is conveniently located near I-75 and the Oaks Mall, as well as plenty of restaurants and shopping conveniences like Bed Bath and beyond, TJ Maxx, The Home Depot and more. Buckingham Forest is also close to North Florida Regional Medical Center.
It is a great neighborhood for families certainly worth checking out.
