December 27, 2016
Let's check in with Portofino, a newer-construction community of single-family homes located near the intersection of SW 24th Avenue and Tower Road. The neighborhood is conveniently located near the University of Florida, Shands Medical Center, North Florida Regional Medical Center and the Oaks Mall. This community offers great amenities such as a basketball court, neighborhood pool, cabana and playground.
Homes here average approximately 1,800 square feet, and the largest home currently on the market in Portofino is 2,233 square feet with four bedrooms. Lot sizes in the neighborhood average approximately one third of an acre.
There are currently four homes on the market representing six months of inventory, making Portofino a perfectly balanced market neither favoring the buyers nor the sellers. The average list price is $238,600, and despite the fact that the average price per square foot has dropped in the past six months, the average sales price has been on a steady climb for the past nine months.
As compared with Gainesville as a whole which has 3.3 months of inventory, Portofino is certainly more balanced. The housing market in Alachua County tends to favor the sellers, as overall inventory is well below the six month mark.
With so many great community features perfect for families, as well as many homes featuring recent upgrades and premium finishes, Portofino is definitely a neighborhood to check out!
