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Pensacola Real Estate Market Report For Week Ending June 14, 2008

Pensacola Real Estate Market Data
Weekly Update For Residential Listings 
In Escambia and Santa Rosa Counties

 Pensacola Real Estate Market Data

Pensacola Real Estate Market Data

Pensacola Real Estate Market Data

  

  

Here is another weekly Pensacola real estate market report. This one covers the week of June 8-14. We saw a big jump in sales at the end of May, but that is attributed to an end-of-month spike in real estate sales, since 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 be watching closely for the end of June numbers to see if the market continues to show some signs of life.  

The overall home sales for May were 437, which is higher than any month since August of 2007.  

For June of 2008 we appear to be seeing the same slow market as we’ve seen all year. None of the numbers really jump out and tell us anything new. It is nice to see the inventory of homes on the real estate market continue to drop, albiet slowly. 
  

  

   Median Home Sales Price Jumps    

Surprisingly, the median home sales price took a significant jump. The median sales price is the price that lies in the middle of the prices of home sold. In other words, half of the homes sold for more, and half the homes sold for less.

 

  Why are all these great home values just sitting?  

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. They may also be lamenting having to pay a higher interest rate in the very near future.

See my article: Buy Now Or Pay Later – Pensacola Real Estate Mortgage Rates Are Rising

- 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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