Are Gainesville’s homes worth the asking price?

Are Gainesville’s homes worth the asking price?

A recent national market study reports that the Gainesville housing market is overvalued – that houses cost 23 percent more than they should.

Real estate representatives, however, say homebuyers are getting a good deal, and the pace of listings and closings shows that.

Using 20 years of statistics of 299 of the nation’s largest housing markets, the latest (third quarter) housing market analysis conducted by National City Bank, a national financial holding company, in conjunction with economic analyst Global Insight, determined that 65 urban areas were deemed “severely overpriced,” costing 30 percent or more of their true value.