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Pensacola Real Estate News Weekly Market Report for Week Ending June 21, 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

Here is another weekly Pensacola real estate market report. This one covers the week of June 15-21. 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.

 

Are we headed for a big spike in real estate sales for the last week of June like we saw in May?

Check back next week and find out. As of the date this report was written, there have been 86 sales for June 22-28.

But we still have to account for those real estate agents who wait many days or weeks after closing to put in their closed sales. I wish the Pensacola MLS would make a rule that all real estate agents had to update the Pensacola MLS listings as  sold within 3 business days of the closing date.

Punishment for failing to abide by this rule would see the agent forced to stage open houses at overpriced ugly homes for the next 2 weekends.

The overall home sales for May were 437, which is higher than any month since August of 2007.  Right now sales for June are coming in at 331 with only 2 days left in the month. It doesn’t look like June will surpass May in sales. 
 

I ask again (like I did last week), 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

Look for an upcoming 6 Month beach report where I will show the active real estate listings and sales on Pensacola Beach and Perdido Key for the first 6 months of 2008.

- 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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