Is Gainesville, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Gainesville has remained a Seller's Market.
Key Takeaway
Gainesville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gainesville, GA
How much do homes in Gainesville, GA cost?
Median Sold Price
$389,721
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Gainesville have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in Gainesville was $389,721 in March 2024, up 3.9% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $280K | $220K | -21.4% |
| 2 Bedrooms | $250K | $264.9K | +6.0% |
| 3 Bedrooms | $335.3K | $339.1K | +1.1% |
| 4 Bedrooms | $427.1K | $463.5K | +8.5% |
| 5+ Bedrooms | $545K | $568.3K | +4.3% |
Summary: Gainesville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 21.4%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 4.3%.
Median Sold Price Compared To Nearby Cities
| Oakwood | $289.9K | $324.9K | +12.1% |
| Gainesville | $375K | $389.7K | +3.9% |
| Murrayville | $399.9K | $400.2K | 0.1% |
Housing Supply in Gainesville, GA
How many homes are available in Gainesville, GA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 585 | 631 | +7.9% |
Summary: The Gainesville real estate market had 631 homes for sale in March 2024, a 7.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 6 | +100.0% |
| 2 Bedrooms | 45 | 49 | +8.9% |
| 3 Bedrooms | 217 | 226 | +4.1% |
| 4 Bedrooms | 192 | 213 | +10.9% |
| 5+ Bedrooms | 128 | 137 | +7.0% |
Summary: The Gainesville housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 116 | 114 | -1.7% |
Asking Price vs. Sold Price
66 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gainesville, you may be able to get a good deal. 62.3% of homes here sold below asking price last month.
Summary: A total of 114 homes were sold or pending in Gainesville in March 2024, down by 1.7% month-over-month. Of the 106 sold homes, 62% were sold under asking, 17% were sold at asking, and 21% were sold over asking.
Days on Market for Gainesville, GA
How long does it take to sell a home in Gainesville, GA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 60 Days | 45 Days | -25.4% |
Summary: Homes in Gainesville had an average of 45 days on market in Mar 2024, down by 25.4% compared to last year.
Breakdown of Home Sale Times
62 Homes Were Sold
Under 30 Days
29 Homes Were Sold
In 30 - 90 Days
23 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gainesville are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 114 homes were sold in Gainesville; 54% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
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Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.