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Pensacola Real Estate Market Report: October-December 2009

This report provides a snapshot of the Pensacola real estate market at the end of 2009. It shows Pensacola homes for sale and Pensacola homes sold, along with other useful statistical data.

In addition, data is provided for previous years back to 2004. This gives a good perspective of where the Pensacola real estate market is and where it was in the past few years.

Market_Report_Oct-Dec_2009

What can we read into these tables? Notice how the active listings (Pensacola homes for sale) have declined since 2008. This is a good sign that the Pensacola real estate market is heading back towards a more stable state. Active listings have declined by an average of 20% since the same time period in 2008, and an average of 35% since 2007.

Pensacola homes sold for 2009 have also increased since the previous year, and are similar to the 2007 sales level.  We are, however, nowhere near the level of sales for the 2004-2006 period.

But what matters most to the person looking to buy or sell Pensacola real estate is the home prices. Prices of Pensacola homes sold has dropped a little since 2008 (see average and median sold prices).  Median Sold Prices of homes declined by around 10% on average since 2007. This is not great news for current home owners, but people looking to purchase a home in Pensacola can expect to find great bargains in this market.

Keep checking back at Pensacola real estate news for more market data. The January 2010 market report will follow soon.

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