Real Estate Market July 2024 Gainesville GA
Current Trends and Key Players
Gainesville, GA’s real estate market in July 2024 presents a diverse range of opportunities for prospective homebuyers and investors.
With 454 single-family homes currently listed for sale, the choices are vast, featuring homes that cater to different tastes and budgets.
From luxurious lakefront properties to modest family homes, Gainesville offers something for everyone.
Highlighted properties include a $569,000 home on 2717 Waters Edge Dr with 3 bedrooms and 3 baths, and a $497,122 home on 5335 Milford Dr offering 4 bedrooms and 3 baths.
Whether looking for a peaceful waterfront view or a spacious family residence, the listings in Gainesville demonstrate the area’s robust and dynamic market.
For those navigating the buying process, working with a knowledgeable real estate agent in Gainesville can provide a competitive edge.
Understanding market trends and having expert guidance can help buyers secure the best deals in this vibrant real estate landscape.
Key Takeaways
- Gainesville, GA offers 454 single-family homes for sale.
- Prices and styles vary, with options like lakefront properties and family homes.
- Expert real estate agents are crucial for navigating the local market.
- 30506 Market Stats
- 30501 Market Stats
- 30503 Market Stats
- 30504 Market Stats
- 30507 Market Stats
Gainesville Real Estate Market Overview – July 2024
The Gainesville, GA real estate market in July 2024 exhibits balance, with slight variations in pricing, supply, and market conditions compared to previous months.
Current Market Trends
Gainesville’s real estate market is characterized by stability.
The sale-to-list price ratio stands at 98.1%, indicating buyers and sellers are reaching agreements close to the asking prices.
Homes in Gainesville typically sell within 39 days on the market, reflecting a quicker turnover than last year, when homes averaged 63 days.
The market remains balanced, with neither extensive buyer demands nor an oversupply of homes, creating a consistent environment for transactions.
Price Analysis
In July 2024, Gainesville home prices displayed modest growth. The median home price reached $385,000, an increase from last year.
This price rise reflects steady demand and a resilient market. Specific price dynamics show that homes sold at an average of 1.9% below their list prices, creating opportunities for negotiation.
These figures highlight gradual yet consistent appreciation in property values.
Inventory Levels
The inventory of homes in Gainesville has seen variations. There are 713 homes currently listed, offering a diverse range of options for buyers. The market saw an 8.1% increase in homes for sale compared to the previous month.
Key Inventory Data:
- Average Days on Market (June 2024): 43 days
- Number of Homes Listed: 713
This data indicates a healthy volume of choices for prospective buyers and a market that accommodates various buyer needs.
Buying Homes in Gainesville
Gainesville offers a competitive housing market with various attractive listings. Prospective homebuyers can explore featured listings, understand the home buying process, and review mortgage and finance options to fit their needs.
Featured Listings
Gainesville has a diverse range of available properties. Current featured listings include single-family homes and modern builds.
For instance, a 3-bed, 3-bath home at 5325 Cherokee Trl is listed at $425,000. Another notable listing is a newly built home, further showcasing the variety of options.
Homes typically receive one offer on average and sell in approximately 39 days, highlighting the market’s competitiveness.
Home Buying Process
Buying a home in Gainesville involves several important steps. First, potential buyers should get pre-approved for a mortgage to establish their budget. Once pre-approved, they can begin touring homes. Using a local real estate agent can simplify navigating listings and negotiating offers.
After selecting a home, the buyer submits an offer and, if accepted, moves on to the inspection and appraisal phases. Closing the sale includes signing necessary documents and transferring ownership.
Mortgage and Finance Options
Financing options in Gainesville cater to diverse financial situations. Buyers can choose from conventional loans, FHA loans, and VA loans. Each loan type has specific qualifications and advantages.
Conventional loans often require higher credit scores but offer competitive rates. FHA loans are designed for first-time buyers with lower credit scores. VA loans provide benefits for veterans, including no down payment.
Consulting with a mortgage advisor can help determine the best option based on the buyer’s financial profile.
prospective homebuyers can explore the different financing possibilities to find the one that best suits their needs.
Frequently Asked Questions
Learn about the current real estate market in Gainesville, GA, including median home prices, market trends, available properties under $300,000, foreclosure opportunities, inventory of new constructions, and the benefits of working with a local real estate agent.
What is the median home price in Gainesville, GA as of July 2024?
As of July 2024, the median home price in Gainesville, GA is approximately $429,350. This represents a slight increase compared to the previous year, indicating a steady rise in property values in the area.
Are there any notable trends in the Gainesville, GA real estate market for this month?
The real estate market in Gainesville, GA remains somewhat competitive. Homes are selling faster and receiving multiple offers. The average time on the market is around 39 days. Overall, there is an 8.1% increase in the number of homes for sale compared to last month.
What types of properties are currently available for under $300,000 in Gainesville, GA?
In Gainesville, GA, buyers can find a variety of properties under $300,000. These include smaller single-family homes, older properties in need of renovation, and some townhouses or condos. Properties in this price range may have fewer bedrooms or require some updates.
How is the foreclosure market in Gainesville, GA, and what opportunities exist?
The foreclosure market in Gainesville, GA presents certain opportunities for buyers looking for investment properties or affordable homes. While specific foreclosure rates are not detailed here, interested buyers can potentially find good deals by working with experienced real estate agents or searching through foreclosure listings.
Can you provide insights on the inventory of new constructions in Gainesville, GA?
New construction homes are also available in Gainesville, GA. These homes tend to feature modern amenities and are often found in newer developments. The inventory of new constructions is expanding, offering potential buyers the option of customizing their homes to some extent before moving in.
What are the advantages of working with a local real estate agent in Gainesville, GA?
Local real estate agents in Gainesville, GA possess in-depth knowledge of the market. They can provide valuable insights, help negotiate better deals, and guide buyers through the process smoothly. Their familiarity with neighborhoods and upcoming listings is an essential asset for anyone looking to buy or sell a home in the area.
The “Mortgage Guide 101” is a comprehensive resource for prospective homebuyers. It covers essential topics such as different types of mortgages, steps to qualify for a loan, understanding interest rates, and tips for managing mortgage payments.
The guide aims to simplify the mortgage process and provide valuable insights to help future home buyers make informed decisions when purchasing a home
JERRY STOVER
Jerry Stover is a seasoned mortgage professional with Homeowners Financial Group, bringing over 24 years of experience in the lending industry.
Known for his exceptional customer service and comprehensive knowledge of mortgage products, Jerry has helped countless clients navigate the complex world of home financing.
He specializes in a wide range of loan options, including conventional loans, FHA, VA, and USDA loans, ensuring that each client finds the best solution tailored to their unique financial situation.
Jerry’s commitment to transparent communication and personalized service has earned him a reputation as a reliable and trustworthy lender.
Beyond his professional expertise, Jerry is passionate about educating homebuyers on the nuances of the mortgage process, making sure they feel confident and informed every step of the way.
His dedication to client success is evident in the lasting relationships he builds and the positive feedback he receives from satisfied customers.
Whether you’re a first-time homebuyer, looking to refinance, or interested in investment properties, Jerry Stover at Homeowners Financial Group is your go-to resource for all your mortgage needs.
Reach out to Jerry today to start your journey towards homeownership with a lender who truly cares about your financial well-being.
RESOURCES
Monitor the flow of money using this worksheet to guarantee that your household addresses necessities and retains the flexibility for leisure spending.
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