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Gainesville real estate market June 2020 Main Photo

Gainesville real estate market June 2020

Posted: August 04, 2020 by Coleen DeGroff

The Gainesville real estate market was negatively impacted in both April and May due to coronavirus restrictions. However, the market rebounded in June as restrictions eased. Pent-up demand from a delayed spring market due to COVID, coupled with historically low interest rates, brought buyers back into the market.

The Florida real estate market as a whole experienced a similar upswing in June.

Here’s a look at some key statistics for June 2020 from the Florida Realtors monthly report for single-family home sales in Gainesville and Alachua County.

Increase in sales price and number of homes sold

Median sale price increased to $270,000 for the month of June. This is an 8% increase from June 2019 when median sale price was $250,000. 

Gainesville and Alachua County median sale price of single-family homes June 2020

Gainesville and Alachua County posted a 2.9% increase in the number of homes sold for the month of June when compared to 2019.

Gainesville and Alachua County number of homes sold June 2020

Strongest selling price points

The strongest selling price point was $300,000-$399,900 for the month of June. Nearly 63% more homes sold in that price point compared to June 2019. 

Gainesville and Alachua County home sales by sale price June 2020

Three other price points showed a marked increase in home sales when compared to June 2019:

  • $200,000-$249,999 - 25% increase
  • $400,000-$599,999 - 14.3% increase
  • $600,000-$999,999 - 10% increase

Gainesville FL is a strong seller's market

With only 2.2 months supply of inventory reported in June, Gainesville FL continues to be a very strong seller's market.

Gainesville and Alachua County months supply of inventory of single-family homes June 2020

Taking a look at Inventory by Current Listing Price shows how much our inventory levels have dropped when compared to last year. The amount of homes available for sale has decreased significantly in every single price point. 

Gainesville and Alachua County Inventory of Single-Family Homes by List Price June 2020

What this real estate news means for Gainesville homeowners

Gainesville home buyers anxious to take advantage of historically low interest rates are fighting over the limited amount of houses available for sale. This is great news for Gainesville homeowners who have been considering putting their homes on the market.

In short: We need more houses to sell to meet buyer demand!

Related articles

Difference between a buyer's and seller's market

Buying your house in Gainesville in a seller's market

Selling your house in Gainesville during the pandemic

Gainesville real estate market and COVID-19

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