February 23rd, 2012 Categories: Pensacola Market Data
The Pensacola Real Estate Market was a little above average for Pensacola home sales for January of 2011. The table shows real estate data for January 2012 in comparison to previous January’s back to 2007.
The numbers in the table were derived from data in the Pensacola MLS and are deemed reliable but not guaranteed. These statistics do not include Pensacola FSBO sales.
The biggest news here, and the best news for home sellers, is that the inventory of homes on the market has shown a significant drop over the past 6 years. Pensacola has just over half the homes for sale in 2012 that it had in 2007. On the other hand, median and average home sale price are both down from previous years. And days on market is showing a noticeable increase.
Even with the inventory of homes on the market decreasing, I’m still going to call this a buyer’s market. The logic here is that, while there are less homes to choose from, the prices are the lowest we’ve seen since the early 2000’s real estate boom, and interest rates remain at historical lows.
Even if you don’t believe this is a good time to buy, I would highly recommend taking a look at homes available on the Pensacola real estate market right now. There are some sweet deals to be had, and you never know how much give a seller will allow in their negotiations.
Of the 261 home sales in January, 49 were listed as foreclosures and 56 as short sales. That is about 40% of the sales in January being either foreclosures or short sales. If you are facing possible foreclosure or considering buying or selling in a short sale situation, the following Pensacola Real Estate News articles may be of value: