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Pensacola Real Estate News – Beach Properties Sales Data for 2007

Pensacola Market Data For Residential Properties
On Pensacola Beach And Perdido Key
2007

Pensacola Beaches

Pensacola Beaches 2007 Report

The numbers in the table show the sales of residential homes and condos on the Pensacola beaches for the year 2007. If the hurricanes will leave our area alone, I would expect sales to pick up in the coming year. While sales slowed down considerably at the end of the year, they were more brisk in the spring and summer time.
An interesting statistic on the sales of homes and condos on the beaches is the percentage change in list price vs sales price. In other words, if a home is listed for $100K, but only sells for $90K, you have a 10% difference. The larger the percentage difference, the larger discount buyers are getting off the list price. I noted there were several homes that sold on Pensacola Beach where the sales price was over $100k less than the list price. So I wanted to look a little closer. Here’s what I found.

Location – Description             %Change

Pensacola Beach Homes             10.2%
Pensacola Beach Condos             6.0%
Perdido Key Condos                     8.2%
Perdido Key Homes                     20.8%

Gulf Breeze                                     6.0%
Cantonment                                    3.6%
East Hill                                            5.7%
Myrtle Grove                                  3.9%
Beulah                                             3.2%

This data just shows that if you are buying a more expensive home on the beaches, you might consider a lower offer than if you are buying a home away from the beach. I’ll take a closer look at these numbers in another post.

- The table shows the yearly market data for Pensacola condos and residential homes on the beaches.
- Vacant land or lots are not included.
- The numbers above are created using data from the Pensacola MLS and are deemed reliable but not guaranteed

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  1. John C

    Karl- I was down on Perdido Key last weekend and I saw a couple of homes on the FL side of the AL/FL line that have been for sale for a while. They are across the street from a state park beach on the gulf and have their own boat docks on the bay. I think the list price has dropped by 40%. Looks like a pretty interesting price. Is that a hot area? Your thoughts?

    Thanks,

    John

  2. Karl

    Real estate prices on Perdido Key have dropped quite a bit in this market downturn. There are 3 issues affecting Pensacola real estate prices on the beaches. Excessively high insurance rates, high property values which mean high property taxes, and fear of hurricanes. This is keeping the beach home and Pensacola condo markets very cold right now.

  3. John C

    Karl- thanks – I know Perdido Key has undergone a lot of change in the real estate market lately. Great job on the statistics, too.

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