February 19th, 2010 Categories: Pensacola Market Data
Here is your Pensacola Real Estate market report for January of 2010. The tables for the previous 2 months of Pensacola real estate sales are provided for comparison purposes.
January was a slow month for sales of Pensacola homes. January is historically slow for real estate sales, but this year was even slower, coming in with the lowest Pensacola Real Estate sales of the last 5 years.
You can also compare January’s home sales to those of November and December of 2009 and see what a sharp drop there has been in sales. I have no doubt that it is going to pick up, and will likely become a very strong real estate market as we go into the next couple of months. I think the driving force is going to be the Homebuyer tax credit, which was extended through April/June of 2010. Note that you must have a home under contract by April 2010, and have closed the sale by June 30, 2010 to qualify for the tax credit.
Once the homebuyer tax credit expires, it’s not clear where the real estate market is headed.
In comparison to previous years, you can also see that average and median home sale prices are down in January 2010. Both average and median sales prices are at a 5-year low compared to January for the previous years. That is good news for Pensacola home buyers. The good news for Pensacola home sellers is that the inventory of Pensacola Homes For Sale has also dropped significantly (14% since 2009 and 36% since 2008) .
Keep checking back to Pensacola Real Estate News for more news on Pensacola market data and other topics relevant to the local real estate market.
Click to view the February 2010 Pensacola Real Estate Market Report