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Pensacola Real Estate News – Price Appreciation in Mayfair Subdivision

This article is written as a compliment article to the Mayfair subdivision report. In that report, I describe the Mayfair subdivision in detail. Since every home owner or buyer wishing to buy a home in Pensacola Florida is concerned about appreciation value, I thought providing these reports would be useful for my readers interested in Pensacola property values.

The table shows property appreciation rates in Mayfair since 1998. The Pensacola MLS data prior to 1998 is not available, and only the last few months of 1998 are available.  

 Mayfair_Appreciation-a

Analysis of the table: Mayfair is a very affordable subdivision. You can purchase many homes in Mayfair and have a monthly payment that is right around the rent you would be paying in a similar home. Thus I believe Mayfair homes will hold their value well, even in a declining market. Note that home sales in Mayfair peaked in 2005 with 76 homes sold, and is at a low last year with only 37 sold. There are values in Mayfair that any renter should consider purchasing, instead of throwing money away on rent year after year.

Homes in this price range are selling much faster than homes in higher price ranges. There will always be buyers looking for homes in this price range. Also note that this market downturn has only brought down the values in Mayfair, on average, by 4.8% from the previous year. This is a very small percentage when compared to other areas in Florida.

Mayfair is a great neighborhood for first time home buyers or for investors looking to build a portfolio of rental properties. If you are a handyman and like to fix up homes yourself, you can find some very good deals on fixer uppers in Mayfair.

 

Related Articles on Pensacola Real Estate News:

 Mayfair Subdivision Report

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

 

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  1. Pensacola Real Estate News » Pensacola Real Estate News - Subdivision Report: Mayfair

    […] Mayfair Home Appreciation Rates  […]

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