The Long & Foster Market Minute

Focus On: Gainesville Housing Market May 2020

Zip Code(s): 20155 and 20156
Units Sold
62
Active Inventory
52
Median Sale Price
$477,450
Days On Market
25
Down
Vs. Year Ago
Down -63%
Vs. Year Ago
Down -3%
Vs. Year Ago
Up 67%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 62 sold this month in Gainesville Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 87 units or 63%. The total number of active inventory this May was 52 compared to 139 in May 2019. This month's total of 52 is lower than the previous month's total supply of available inventory of 79, a decrease of 34%.

Median Sale Price
Last May, the median sale price for Gainesville Homes was $490,750. This May, the median sale price was $477,450, a decrease of 3% or $13,300 compared to last year. The current median sold price is 5% lower than in April.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
73
Current Contracts
88
Sold Vs. List Price
99.5%
Months of Supply
0.8
Down -38%
Vs. Year Ago
Down -3%
Vs. Year Ago
No Change
Vs. Year Ago
Down -40%
Vs. Year Ago

Months of Supply
In May, there was 0.8 months of supply available in Gainesville, compared to 1.4 in May 2019. That is a decrease of 40% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 73 homes newly listed for sale in Gainesville compared to 118 in May 2019, a decrease of 38%. There were 88 current contracts pending sale this May compared to 91 a year ago. The number of current contracts is 3% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Gainesville was 99.5% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 25, higher than the average last year, which was 15, an increase of 67%.

The Long & Foster Market Minute Gainesville are defined as properties listed in zip code/s 20155 and 20156.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.