Pensacola Real Estate News Monthly Market Update for August 2008
September 18th, 2008 Categories: Pensacola Real Estate News
Pensacola Market Data For August 2008
Residential Properties in
Escambia and Santa Rosa Counties
The table shows the Pensacola real estate market data for the month of August 2008, as compared to previous months. Pensacola home sales have not reached the level they did in the previous 4 months. And the average sold price is also down a bit. And, the average days on market (DOM) has increased quite a bit. All bad!
As my regular readers may have noticed, I haven’t published much real estate news in the past month or so. I’m sorry for the lack of reports, but I had an illness in the family and haven’t been able to get my blogging time in. Hopefully that will get better here soon.
But as you can see from the table, very little has changed in the Pensacola real estate market, and most small changes have not been for the better. I was hoping for some brighter numbers, but it seems to be business as usual. We have seen the inventory of homes drop by a few hundred, which is good.
Now that we are seeing this massive financial crisis, I can only guess that the local real estate market is going to slow down even more. I’m thinking we are going to have a very slow fall and winter. This is bad news for local home sellers, but buyers should be able to have their pick of the bargains, assuming they can get a home loan.
Keep checking back for my weekly and monthly updates to keep abreast of what is going on in this market.
If you are interested in sales of homes in different areas of Pensacola, check out my Pensacola Real Estate Market Report By Area post which breaks out the sales by different areas Northwest Florida.
- The table shows the monthly market data for Pensacola residential property.
- These numbers include only residential homes and condominiums in Escambia County and Santa Rosa County that are listed in the Pensacola MLS.
- The numbers do not include vacant land or lots, mobile homes or manufactured homes.
- The numbers are generated 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.