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Pensacola Real Estate Market Data For Week Ending June 7, 2008

Weekly Update For Residential Listings 
In Escambia and Santa Rosa Counties

Pensacola Real Estate Market Update

Pensacola Real Estate Market Update

 Here is another weekly Pensacola real estate market report. This one covers the week of June 1-7. The previous week’s jump appears to have been an end-of-month spike in real estate sales, as more closings tend to take place toward the end of the month. It was just a bigger spike than we are used to seeing. However, this may indicate that the Pensacola real estate market starting to creep back up again. I’ll keep an eye on it and share my findings with you.  

Here’s a piece of advice related to the end-of-month spikes in home sales. If you look at the Homes Sold column in the table, you will see that the highest number of sales tend to fall at the end of each month. As anyone who has been through a real estate closing can attest, often times things can go wrong, and there can be delays. Since most closings occur during the last week of the month, this is when the title companies and loan officers are busiest. Thus to minimize the possibility of problems, it is best to get a closing date on Mondays through Wednesdays during the first 3 weeks of the month. These are times when the people involved in the closings have the most time to make sure everything goes right and resolve any problems that may arise. 

As always, I am wondering when buyers are going to recognize the incredible deals that are available out there right now. It will probably be once the market starts moving up again, and then you will hear everyone lamenting that they didn’t buy when the market was at its lowest. 

 – 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 Pensacola 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.

 

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