December 13, 2018
Our 2018 Gainesville/Alachua County market report is hot off the presses!
The local trend is similar to what most areas are seeing - higher prices, but also fewer homes selling. Prices are up about 7% in Alachua County, but activity dropped to roughly where it was in 2016.
This lines up with what most areas are reporting -- low inventory and hence rising prices, but fewer willing & buyers walking the streets. This is largely due to rising interest rates.
Interestingly, our neighbors in Marion County are an exception to this trend:
In Ocala, activity is slightly up over 2017 and prices are up a whopping 12%!. This is most likely largely due to lower prices, which aren't impacted as greatly by higher interest rates.
Locally, one area that bucks the trend is Newberry/Jonesville:
All the developent in Jonesville has driven up both prices and activity. After seeing a small dip in 2017, prices in Newberry/Jonesville were up 17% in 2018! And unlike most of the area, activity was up as well - by about 5%.
We predict 2019 to be more of the same: buyers slightly more scarce, but low inventory keeping prices on the rise. However, at some point, the market will tip more towards buyers and that is where we see things going over the next couple years.