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Home Sales Rise in Pensacola Bay Area by 36 Percent

According to data released by the Pensacola Association of Realtor’s on September 11, 2013, sales of single family homes last month in the Pensacola Bay area jumped 36 percent! This is great news for the real estate market! The pendulum seems to be swinging back to the positive.

Data tallies show that total sales reached 602 compared to 442 homes sold in August, 2012. Timberland Contractors, LLC enjoyed a flurry of activity this past month with 6 new building contracts signed and begun! The sounds of busy hammers, nail guns and saws can be heard in neighborhoods, such as Cottonwood (pictured below), Covington Woods and Plantation Woods.

Timberland Contractors, LLC. and DR Horton are busy building Executive Homes in this prestigious neighborhood.

Timberland Contractors, LLC. and DR Horton are busy building Executive Homes in this prestigious neighborhood.

In addition to the spike in the number of homes sold, prices rose almost 7 percent in August of this year. It is an advantageous time to build, buy or sell a home.

According to Zillow’s Mortgage Rate Ticker, 30-Year Fixed Mortgage Rates Have Fallen for the First Time in Five Weeks; The Current Rate is 4.37%.

http://online.wsj.com/article/PR-CO-20130827-909202.html

The average home price sold in Escambia and Santa Rosa Counties last month was $176,734.

The number of days a home for sale remained on the market also dipped to 113 from 133 days in 2012.

The only negative in the Association’s report was a slight increase in the total inventory of unsold homes.

That number edged up from 3,388 last year to 3,420 in August of 2013. However, as people relocate to Pensacola, Florida these numbers are likely to change. An influx of military families and retirees happens with regularity in Pensacola. Young families are also choosing to plant roots in our lovely city.

If you have any questions about any of these neighborhoods, please contact me here or feel free to call me, and I will be happy to answer any real estate questions you may have.

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