Gainesville Real Estate Market Update for September 2024 – Trends, Insights, and Opportunities
The Gainesville Real Estate market remained active in September 2024, showing varied trends across different price ranges. With 195 homes sold in Gainesville this month and a total inventory of 1,218, buyers and sellers saw a balanced market with some competitive pricing.
Here’s a breakdown of the main insights from September’s data.
Gainesville Real Estate Market Key Highlights September 2024
Gainesville Real Estate had Strong Activity in the Mid-Range Market
Homes priced from $200,000 and below $349,999 saw the highest sales activity, capturing nearly half of the market share. This range included:
- $200,000 – $249,999: 37 units sold with an average sale price of $224,516, achieving 98% of the list price.
- $250,000 – $299,999: 26 units sold, averaging $276,344 with a high list-to-sell ratio of 97%.
- $300,000 – $349,999: 30 units sold at an average sale price of $322,508, also at 97% of the list price.
These figures indicate robust demand in this mid-tier market, likely appealing to both first-time buyers and investors seeking affordable options with good value.
The Gainesville Luxury Real Estate Market Insights
In the higher price brackets:
- Above $600,000 and below $699,999 had 6 sales, achieving an average sale price of $648,400, with a high 97% list-to-sell ratio and a quick average of 47 days on the market.
- Above $1,000,000 saw 3 properties sold with an impressive average sale price of $1,162,566 and an average of just 53 days on market, suggesting sustained interest in Gainesville’s luxury homes.
These numbers reflect that Gainesville’s luxury real estate remains desirable, with buyers willing to act quickly when high-end properties come up for sale.
Affordability Options and Challenges for Gainesville Real Estate
Lower-priced homes (under $200,000) made up a smaller portion of sales:
- Only 1 home was sold in the $60,000-$69,999 range, and 1 in the $70,000-$79,999 range, demonstrating limited inventory for very affordable housing.
- The $120,000 – $139,999 range saw a bit more activity, with 5 homes sold at an average price of $125,000.
This trend points to an ongoing challenge for buyers seeking affordable housing in Gainesville, as inventory remains limited in these lower price segments.
Average Days on Market (DOM) and Inventory of Gainesville Real Estate
The overall market had an average DOM of 64 days, indicating a reasonably quick turnaround for homes in Gainesville. Inventory levels vary across price ranges, with the highest inventory in the $250,000 – $349,999 range. This level of supply gives buyers some options to choose from while maintaining a competitive market.
Market Summary for the Gainesville Real Estate Market
The Gainesville real estate market remains dynamic, with a steady demand across all price points. September’s overall list-to-sell ratio of 97% reflects strong pricing strategies, suggesting that homes are generally priced accurately for the market. The active mid-range market, alongside the high activity in the luxury sector, highlights Gainesville’s appeal to a diverse range of buyers.
If you’re considering buying or selling in Gainesville, now is an excellent time to connect with a knowledgeable local expert.
Contact a Gainesville Realtor with Gainesville Realty at 352-888-1111 to explore your options and make the most of this dynamic market.
