Real estate market update in Gainesville: Home prices increased 28.1% compared to the previous year

Apr 27, 2024 | 0 comments

Gainesville, located in northern Florida, has a real estate market considered “sellers”, which means that it offers higher prices but at the same time home sales are faster. In the last year, the average value of homes in the city increased by 28.1%

Florida is a state that increasingly receives more inhabitants from different sectors, both from other states in the country and from countries around the world, who look for a pleasant climate in the southern United States most of the time.

And although cities like Miami and Orlando are usually always in mind when Florida is mentioned, in the last decade there have been several cities that have enjoyed accelerated growth – real estate and economic –, offering increasingly greater benefits for new residents.

One of them is Gainesville, which thanks to the drive of the University of Florida, recently named the best state university in the country by the Wall Street Journal, added to the presence of highly specialized hospitals, has achieved a modernization that attracts more and more people.

Real estate market growth in Gainesville

Gainesville has been considered on several occasions as one of the fastest growing cities in Florida, thanks to its extensive development in areas such as technology, health, education, tourism and lately also as infrastructure for the development of artificial intelligence.

One of the main axes of this growth is the constant contribution of the University of Florida to each of the points mentioned. The success of the institution causes enrollment to grow each year, increasing demand for student residences and condominium buildings near the UF campus.

Therefore, the real estate market remains hot and moving, with a large number of homes bought and sold, in addition to the construction of new and modern residences for university students.

Furthermore, the growth has been exponential each year. For example, from July 2022 to July 2023 the median home value in Gainesville increased by 5.2%, while from February 2023 to February 2024 the value increased by 28.1%.

House prices by number of rooms February 2024 versus February 2023:

Bedroom count  February 2023 February 2024    Change
1 dormitorio $114.5K $130K +13,5%
2 dormitorios $177.1K $185K +4,4%
3 dormitorios $ 269,6 mil $309.6K +14,8%
4 Dormitorios $ 354,3 mil $ 426,9 mil +20,5%
5+ habitaciones $495K $ 590,7 mil +19,3%


Precio de venta promedio en relación con ciudades cercanas febrero de 2023 frente a febrero de 2024:

City  February 2023  February 2024     Change
Gainesville $ 238,3 mil $305.2K +28,1%
Alcagua $ 329,5 mil $ 337,9 mil +2,6%
High Springs-Alachua $ 326,1 mil $ 329,9 mil +1,2%


Current Housing Supply in Gainesville (2024)

Gainesville’s real estate market continues to favor sellers, with rising home prices, increased demand, and a relatively low supply of available homes.

Whether to buy or sell, it is a city that is generating extensive movement. In February of this year alone, a total of 157 homes were sold, increasing by 21% compared to the previous month.

Of the 157 homes, 66% were sold under the asking price, 23% were sold at the asking price and 11% were sold above the asking price. In total, there are about 870 homes currently for sale in Gainesville.

Archer Place: Investment opportunity across from UF


If you are ready to make your investment in Florida, we present you a unique opportunity to invest in real estate with attractive returns.

Located steps from the University of Florida, Archer Place will redefine the lifestyle of young professionals and college students, offering convenience and modernity not yet seen in the city.

It is a mixed-use project that will include 92 luxury condos for residence and rental, as well as a university residence with all the necessary amenities for students and an exclusive commercial area (restaurant) for its residents.

Eric Godet, President of the Gainesville Chamber of Commerce, acknowledged that there are currently no real estate projects of this style in the city, and that it brings together everything that Gainesville residents need.

Interview with Eric Godet – President Gainesville Chamber of Commerce | BAI Capital

Developed by BAI Capital, the firm seeks with this project to continue generating added value for its investors, offering returns of 7% annually, with the objective of reaching up to a 15% fixed return.