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Pensacola Real Estate Market Data – December 8, 2007

Weekly Update For Residential Listings 
In Escambia and Santa Rosa Counties


Unfortunately, due to problems with some MLS data, I removed the table of Pensacola real estate information from this page. However, this data is available at the following page:  Pensacola Real Estate Market Data

I hope everyone is having a great Pensacola holiday season. This was a strange week for real estate as far as trying to give a representation in the table. The numbers are totally skewed because of something that happened on Pensacola Beach. 18 units of the Beach Club condos were sold all at once this week. The prices ranged from $737K up to $1.08 million dollars. These appear to have all been sold to another business or investment group. Thus the numbers in the table do not portray a typical week in Pensacola real estate.

Unfortunately, given the sale of the Pensacola Beach condos, the number of homes sold is dismally low for the past week. If you take away those 18 condos sold, that leaves only 123 homes sold. 

I believe a root cause of this type of slow down is the negative media. The media is going to focus on every negative aspect of the real estate market that they can. They are trying to build readership, not portray a true picture of the actual real estate conditions. While buyers are reading negative real estate reports in the media and deciding to wait for the real estate market to hit bottom, the people who really understand this market are out looking for buying opportunities. There is no better time to buy than now. Interest rates are at historic lows, and there are motivated sellers who are selling at bargain prices. 

– The table shows the weekly market data for Pensacola residential property.
– These numbers include only residential homes and condominiums in Escambia and Santa Rosa Counties that are listed in the Pensacola MLS.
– They do not include vacant land or lots, mobile homes or manufactured homes or FSBOs.
– The numbers above are created using data from the Pensacola MLS and are deemed reliable but not guaranteed

Click on Pensacola Real Estate News for a list of articles indexed by category.

  1. Pensacola Realtor

    Hopefully 2008 will be a good year for real estate sales in Pensacola.
    So much depends on outside forces such as the economy, credit availability and the ability of buyers to sell their homes prior to buying.
    I think 2008 will be a time of transition in this industry, where the job agents and brokerages are redefined.

    Happy Holidays

  2. Karl

    Thanks so much for dropping by and commenting. I know you are very informed about Pensacola real estate and I appreciate your input. I just wish the media would lighten up on the real estate conditions. I know things are not great, but Pensacola homes are already in a very affordable price range. I think a lot of buyers are missing out on great opportunities by sitting on the sidelines and waiting for the market to bottom out.

  3. Pensacola Realtor

    I agree Karl, the media is quick to see the worst but as we both know real estate is all local.
    There are some very good values to be had right now, and good values sell quickly.
    Despite all the gloom and doom, people are still buying and selling here at pre-bubble sales volumes.

  4. Chico CA Real Estate- Sandi Bauman

    Karl- Your market data on the Pensacola Real Estate market is very easy to read and understand- nice job!

  5. Pensacola Real Estate News » Pensacola Real Estate Market Update - December 15, 2007

    […] can see my previous weeks numbers at this link: Pensacola Real Estate Market Update- The table shows the weekly market data for Pensacola residential property. – These numbers include […]