A house for sale on Southwest 77th Street is shown on Wednesday in Gainesville.
Matt Stamey/Staff photographer
Matt Stamey/Staff photographer
"A review of local homes listed for sale by ZIP code shows a dramatic drop in the number of listings in most areas.
There were 2,225 Gainesville area homes on the market in August, a 20 percent drop compared with August 2010, according to the National Association of Realtor's website, Realtor.com.
That could be because people have decided to wait for more favorable selling conditions to put their homes on the market or have decided to rent out unsold homes, said Gia Arvin, president of the Gainesville-Alachua County Association of Realtors.
The largest inventory declines were in 32603 in southwest Gainesville and 32641, the rural area around Newnan's Lake, at 35 percent each. Nationwide inventory is down 19 percent.
The inventory decline is helping offset downward price pressures from foreclosures and short sales, said J. Parrish, president of Coldwell Banker/M.M. Parrish Realtors.
The listings show no clear trend in median or average listing prices across the area, with prices up in some ZIP codes and down in others. That suggests the market is in the very early stages of price stabilization since more areas would show price drops if the market were declining, Parrish said."
Click here to read the Gainesville Sun article and see the comparison chart by zip code.
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