Overview of Sales

In all of Alachua County from Jan 1, 2010 to today, there were 200 properties that sold ranging between 2,000 to 4,000 square feet and built between 1995 to 2010.  (excluding mobile homes) Of these 200 only 24 were short sales.

One year ago using that same criteria, there were 178 homes that closed, and 12 were short sales.   There are a few more buyers  so far this year, and lots of inquiries from buyers waiting for that Special Indicator that will tell them “OKAY, it is time to buy now” before the market turns upward and prices go up.

Sold Since Jan 1, 2010 in Shaw Farms & Alachua Highlands

One home has sold so far this year in Shaw Farms & Alachua Highlands, it was sold as a short sale:

Two more nearby homes have sold that are relevant to values in this neighborhood.

This link to the MLS data for these 3 homes will last upto 30 days from now:

http://www.gainesvillemls.com/gan/maildoc/sd_AAAa006Ut20100824110817.html

What is For Sale?

Homes for Sale Now in Shaw Farms & Alachua Highlands

The 3 homes range in price from $398,795 to $1,349,000 and size from 2,627 to 3,706.  They have between 5 and 10 acres of land.

*MLS 314209 is also available with 5 more acres for an additional $199,000 – listed as MLS 314212.

Our company is marketing one of these homes – MLS 315566 – so CLICK HERE if you would like to see the floor plans, more photos, and more information on the area.

Homes Under Contract Now

There is one home that is under contract & waiting to close.

This house is a “Short Sale”, which means the owner must get approved by their bank to sell the home for less than the loan amount.  The asking price has not been approved by the bank yet, so we’ll have to wait and see what this home sells for

This link to the MLS data will last upto 30 days from now:

http://www.gainesvillemls.com/gan/maildoc/sd_AAAa004Ek20100824095448.html

More About Short Sales

If you want to know more about short sales, here is an article about the process:

http://www.we-promise.com/blog/2010/03/short-sales-get-a-boost/

You can log on to Kathleen’s detailed market analysis to see how prices are fairing thru all this.

http://www.we-promise.com/blog/2010/08/real-estate-update-home-property-sales-report-for-gainesville-july-2010/

Parting Shot

Click to see all homes Currently for sale in the Alachua Highlands / Shaw Farms.

My, it has been a while since we glanced at this area of Alachua County. The last look in March took us to four homes for sale.

The four homes are still available with substantial price reductions from their original list prices. (like shows homes for sale TODAY)

Prices now range from $269,900 to $599,000, with 5 to 11.5 acres. Most of these homes were built in the 90’s, The sizes range from 1,934 to 3,390 square feet.

There was one sale that closed out at $448,000.

In summary, the higher end homes are taking longer to sell across Alachua County and some sellers are dropping their prices.

Here you are out in the country, enjoying the sunshine and your quiet, peaceful existence. If, however, you are planning on selling, refinancing, or getting an equity line of credit you may want an updated idea of what the real estate market is actually doing right now.

Homes for Sale Now

Click to see all homes listed

There are 2 homes on the market – both of them have been available for a while now.

Click on the photo to see details of the homes, photos, and descriptions.

Sales History

This is a small neighborhood that people enjoy living in, so it isn’t surprising that there are never more than a handful of homes that are available for sale each year.

The number of sales peaked in 2006 at a total of 7 homes, and dropped to only 2 in 2007.  During that time the average sale price dropped from $483,000 to $412,500 – but the homes that sold were smaller and the per square foot actually increased from $186/sqft to $222/sqft. Four other homes were on the market but didn’t sell in 2007, they cost more but were larger so actually averaged less per sqft ($202/sqft).  It seems that the buyers’ uncertainty about the market caused them to buy smaller, more affordable homes at the time.

In 2008 four homes sold.  The larger homes in the neighborhood became more affordable as asking prices were reduced during the year, and people’s preference for size dominated their decisions. The average price dropped to $329,750 and while the price per square foot also dropped to $142/sqft.  These homes were on the maket 287 days – 354 days when adjusted for prior unsuccessful sales attempts.  One home came off the market (unsold) and as yet has not been relisted.  Interestingly, the original asking prices averaged $402,000 – meaning that the asking price dropped by $55,000 before these homes ever went under contract (they were listed apx 22% over market value).

There has already been one sale this year.  It’s a 2,400 sqft three bedroom two bath home.  It sold for $320,000 – bringing the average price per sq ft to $132.

Sales Statistics – click for a larger view

What does it mean?

Demand for homes in the county dropped as the general real estate market fell and it dropped further as gas prices increased.  Like most of Alachua County, homes are selling again close to their 2005 values.   If you need to value your property for a re-finance or insurance don’t be surprised if you see a drop from the peak estimates in 2006.

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