The Long & Foster Market Minute

Focus On: Gainesville Housing Market January 2024

Zip Code(s): 20155 and 20156
Units Sold
31
Active Inventory
24
Median Sale Price
$665,000
Days On Market
23
Up
Vs. Year Ago
Down -50%
Vs. Year Ago
Up 19%
Vs. Year Ago
Down -45%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in January, with 31 sold this month in Gainesville Real Estate. This month's total units sold was higher than at this time last year, an increase from January 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 24 units or 50%. The total number of active inventory this January was 24 compared to 48 in January 2023. This month's total of 24 is lower than the previous month's total supply of available inventory of 35, a decrease of 31%.

Median Sale Price
Last January, the median sale price for Gainesville Homes was $557,500. This January, the median sale price was $665,000, an increase of 19% or $107,500 compared to last year. The current median sold price is 6% lower than in December.

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


New Listings
27
Current Contracts
35
Sold Vs. List Price
99.9%
Months of Supply
0.8
Down -48%
Vs. Year Ago
Down -31%
Vs. Year Ago
Up 1.5%
Vs. Year Ago
Down -55%
Vs. Year Ago

Months of Supply
In January, there was 0.8 months of supply available in Gainesville, compared to 1.7 in January 2023. That is a decrease of 55% 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 27 homes newly listed for sale in Gainesville compared to 52 in January 2023, a decrease of 48%. There were 35 current contracts pending sale this January compared to 51 a year ago. The number of current contracts is 31% lower than last January.

Sale Price to List Price Ratio
In January, the average sale price in Gainesville was 99.9% of the average list price, which is 1.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 23, lower than the average last year, which was 42, a decrease of 45%.

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.