Archive for the 'Pensacola Market Data' Category
Pensacola Real Estate Market Report: February 2010
March 9th, 2010 Categories: Pensacola Market Data
Here is the Pensacola Real Estate market report for February of 2010. The tables for the previous 2 months of Pensacola real estate sales are provided for comparison purposes.
Home sales picked up in February 2010. Pensacola had almost 100 more home sales in February than in January 2010. However, January was historically slow for real estate sales, coming in with the lowest Pensacola Real Estate sales of the last 5 years.
When you compare February’s Pensacola home sales to those of the same month in the past 5 years, the market is performing a little better than last year, but still lagging behind 2005-2008. I think the driving force that is going to cause sales to pick up is going to be the Homebuyer tax credit, which was extended through April/June of 2010.
However, reports have been coming out indicating that many real estate agents do not believe the homebuyer tax credit is having the desired effect. See Pensacola Real Estate News article Impact From Home Buyer Tax Credit. We can only wait and see.
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. Click for more detailed information on the Homebuyer Tax Credit.
Once the homebuyer tax credit expires, it’s not clear where the real estate market is headed.
Back to the real estate tables. In comparison to previous years, you can also see that average and median home sale prices are down overall in February 2010, although they look to have held fairly steady compared to last year. The good news for Pensacola home sellers is that the inventory of Pensacola Homes For Sale is considerably lower than at this time last year.
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.
| Currently No Comments »
Pensacola Real Estate Market Report: January 2010
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
| Currently No Comments »
Pensacola Real Estate Market Report: October-December 2009
February 13th, 2010 Categories: Pensacola Market Data
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.
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.
| Currently No Comments »
The Condo Market Upswing On Pensacola’s Beaches
January 5th, 2010 Categories: Pensacola Beach, Pensacola Market Data
The Pensacola Beach, Navarre Beach, and Perdido Key condominium markets have begun to see some increase in sales. The total number of sales for these three areas, two of which are on Santa Rosa Island and the third on Perdido Key have increased from 211 units sold in 2008 to 298 units sold in 2009 for an almost 30% increase. During the same period average price per unit dropped from $566,000 to $383,000.The continuation of near historically low interest rates, and the falling prices are getting the attention of many more buyers.
I provided a report on the condo and beach real estate market back in mid-2008. You can check out that real estate condo report to get an idea of just how much prices have dropped and sales have increased in 2009.
Pensacola Beach’s core area has returned to its pre-hurricane Ivan condition, and actually has more to offer than ever. Most of the year there are 5 to 10 venues with live entertainment and a wide variety of restaurants including everything from fine dining at Hemmingway’s at the end of the Portofino Boardwalk, to Hooters, to Sidelines Sports bar.
The newly rebuilt Pensacola Beach fishing pier is back for fishing as well as sightseeing. The road to Fort Pickens has reopened, along with the road through the national seashore that connects Pensacola Beach with Navarre Beach. The picture below is a view of Pensacola Beach from the pier.
All of the annual events that take place on Pensacola Beach have resumed, bigger and better than ever, including the Blue Angels air show, and the world famous Pensacola Beach bushwhacker festival, as well as the huge Pensacola Beach Memorial Day celebration.
Here is the schedule of events for January through March from the Pensacola Bay Area Chamber of Commerce:
January 5, 2010
January
Annual Polar Bear Dip, Flora-Bama, (850) 492-0611
Navarre Half Marathon 5K/10K, (850) 476-7434
All American Chili Cookoff, Seville Quarter, (850) 434-6211
Youth Art Focus, Pensacola Museum of Art, (850) 432-6247
Annual Antique Show & Sale, Fairgrounds
February
Pensacola News Journal Double Bridge Run, 15K/5K, (850) 434-2800
Mardi Gras Street Party, Seville Quarter, (850) 434-6211
Mardi Gras Parades
Blue Angel Marathon
Cajun Fest, Pensacola Beach, (850) 932-1500
Heart of Gold Ball, American Heart Association, (850) 473-0411
Mardi Gras Parade, Pensacola Beach, (850) 932-1500
Lust for the Arts, Seville Quarter, (850) 434-6211
Gumbo Ya-Ya, Seville Quarter, (850) 434-6211
Pensacola Children’s Chorus, (850) 434-7760
March
Beulah Sausage Festival
Business Expo at Civic Center, (850) 438-4081
McGuire’s 5K Run, (850) 433-6789
Rockabilly Festival, Seville Quarter, (850) 434-6211
Pensacola Junior League Bargain Sale, (850) 433-4421
Santa Rosa Celebrates the Arts, (850) 623-2339
Magnolias and White Linen, (850) 435-2533
Gulf Coast Renaissance Festival, (877) 429-8462
Riverwalk Fine Arts Festival, Milton, (850) 626-9567, (850) 623-8493
Gulf Breeze Celebrates the Arts
| Currently No Comments »
The Improving Pensacola Real Estate Market
December 29th, 2009 Categories: Pensacola Market Data
The Pensacola Real Estate market picked up nicely in November, driven by the $8000 tax credit for new home buyers, near historically low interest rates, and a continuing downward trend in home prices. Due to these factors, we saw a dramatic increase in homes sold in Pensacola in November 2009.
An estimated 441 homes sold in November 2009, vs around 265 in November 2008, according to the the Pensacola area MLS. Navy buyers, who will be stationed at one of our three Naval Air Stations, Pensacola NAS, Corry Field ,or NAS Whiting Field in Milton, Fl, have been a mainstay of the market and have found exceptional value for their money. Of course Veterans Administration (VA) loans are still readily available for Navy personnel, and we have a variety of sources for these VA loans, including local offices of Navy Federal Credit Union, as well as Bank of America, and Wachovia Bank, which is a subsidiary of Wells Fargo.
Another important part of the surge in Pensacola home sales has been the relative increase in buying power of the employees in our excellent medical facilities. Sacred Heart Health System, Baptist Health Care Systems Pensacola, and West Florida Hospital all contribute important jobs to our economy and, along with Navy and civil service employees, have been important in sustaining the Pensacola economy through these difficult economic times.
With the extension of the first-time home buyer tax credit and the added eligibility for a $6500 tax credit for other buyers, we are cautiously optimistic as we enter the new year that the Pensacola real estate market will continue to improve. One striking statistic is that the inventory of available homes continues to decrease in the Pensacola area. As of Dec 25th 2009, there were 4934 residential properties listed for sale in the Pensacola MLS.This is the first month we have had fewer than 5000 properties in the MLS in several years.That number along with the November 2009 sales number of 441 leads me to believe that the Pensacola Real Estate market is approaching a stabilization of supply and demand.
| Currently No Comments »
Pensacola Real Estate News Market Report For Week Ending August 9, 2008
August 19th, 2008 Categories: Pensacola Market Data
Pensacola Real Estate Market Data
Weekly Update For Residential Listings
In Escambia and Santa Rosa Counties
Here is another weekly Pensacola real estate market report. This one covers the week of August 3-9, 2008.
This week we saw a typical slow start in home sales at the beginning of each month. As you can see from the table, sales always pick up towards the end of each month. And our homes on the market dropped again, but not by much. Overall, there is very little to report on market changes. So I’ll just babble about insurance for a bit.
We’re in the middle of hurricane season right now, so getting homeowners insurance for your real estate can be tricky when there is an active tropical storm in the area. Tropical Storm Fay was hitting southern Florida as I wrote this report.
It is a good idea to bind your homeowner’s insurance policy if you are buying a home during hurricane season. Ask your insurance agent about binding the policy. If you do not bind your policy and a storm is in the Gulf/Carribean/Atlantic Ocean area, the insurance company may not issue you a policy, which could delay closing on your home.
If you are in the market for a home insurance policy, or any insurance policy, check out my article “Think You’re In Good Hands? Think Again “. New information has come out about Allstate and its settlement with the state of Florida. I will be posting that information within a few days. Big companies that bully consumers really piss me off. Please read the article linked above before you buy insurance of any kind.
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 weekly 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.
- They do not include vacant land or lots, mobile homes or manufactured homes or Pensacola FSBOs.
- The numbers above are created 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.
| Currently No Comments »
Pensacola Real Estate Weekly Market Update for Week Ending August 2, 2008
August 14th, 2008 Categories: Pensacola Market Data
Pensacola Real Estate Market Data
Weekly Update For Residential Listings
In Escambia and Santa Rosa Counties
Here is another weekly Pensacola real estate market report. This one covers the week of July 27 – August 2.
This week we saw a nice end-of-month increase in sales. And our homes on the market dropped by almost 100. Part of that drop appears to be from 246 listings that expired or were withdrawn from the Pensacola MLS. We also saw more new homes coming on the market than normal. There seems to be a lot of activity in the Pensacola Real Estate market.
An interesting point to note is that the Pensacola MLS indicates that only 14 of the 232 new homes listed for sale are foreclosure properties. This shows that foreclosures are not as rampant as the media might make them sound, at least in Pensacola Florida. Of the new homes listed, 18 are listed as short sales.
If you are facing potential foreclosure and would like some help, Florida residents can now get free legal help in dealing with foreclosures. See my article Free Real Estate Advice For Florida Home Owners Facing Foreclosure .
For more on Short Sales, check out Real Estate Short Sales – Is It Worth It?
Check out my 6 Month Pensacola beaches market report where I show the active real estate listings and sales on Pensacola Beach and Perdido Key for the first 6 months of 2008.
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 weekly 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.
- They do not include vacant land or lots, mobile homes or manufactured homes or Pensacola FSBOs.
- The numbers above are created 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.
| Currently No Comments »
Pensacola Real Estate Market Report for July 2008
August 4th, 2008 Categories: Pensacola Market Data
Pensacola Market Data For July 2008
Residential Properties in
Escambia and Santa Rosa Counties
The table shows the Pensacola real estate market data for the month of July 2008, as compared to previous months. Pensacola home sales have not quite reached the level they did in the previous 2 months, but they may get there yet as slower agents put their sold listings into the MLS.
When I did my monthly report for June, there were only 433 sold listings for June entered in the Pensacola MLS. In the following weeks, 36 more sold listings were added for June, bringing the total sold to 469. This kind of delay in getting sold listings put in the MLS just makes the numbers less useful and is a disservice to the community of real estate professionals who are trying to help their clients with accurate comparable properties in buying and selling homes.
I’ll get off my soapbox now and talk a little about the market. Inventory of homes is holding steady and we are doing fair as far as sold homes go. I think once all the numbers are in, we will have a decent month, relative to this slow market. There is not much more to tell this month. I’d love to give a more exciting report, but we are where we are, and that is not too exciting from a real estate perspective.
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.
And remember buyers, if you are waiting for the market to bottom out, it is likely the market will be moving back up by the time you buy.
- 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.
| Currently No Comments »
Pensacola Real Estate Market Report For Week Ending July 26, 2008
July 31st, 2008 Categories: Pensacola Market Data
Pensacola Real Estate Market Data
Weekly Update For Residential Listings
In Escambia and Santa Rosa Counties
Here is another weekly Pensacola real estate market report. This one covers the week of July 20 – 26.
There is not much to report this week that is any different from the previous few weeks. What I don’t like is seeing the inventory of homes (active listings) increasing. Hopefully sales will increase even more as we get closer to the end of the month and bring that number back down.
Check out my 6 Month Pensacola beaches market report where I show the active real estate listings and sales on Pensacola Beach and Perdido Key for the first 6 months of 2008.
It appears that foreclosures are still rising. If you are facing potential foreclosure and would like some help, Florida residents can now get free legal help in dealing with foreclosures. See my article Free Real Estate Advice For Florida Home Owners Facing Foreclosure .
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 weekly 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.
- They do not include vacant land or lots, mobile homes or manufactured homes or Pensacola FSBOs.
- The numbers above are created 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.
| Currently No Comments »
Pensacola Real Estate News Weekly Market Report for Week Ending July 19, 2008
July 26th, 2008 Categories: Pensacola Market Data
Pensacola Real Estate Market Data
Weekly Update For Residential Listings
In Escambia and Santa Rosa Counties
Here is another weekly Pensacola real estate market report. This one covers the week of July 13 – 19.
There is not much to report this week that is any different from the previous few weeks. Sales are up a little, and I expect they will increase even more as we get closer to the end of the month.
News reports show that foreclosures are still rising, and we are seeing that in the Pensacola real estate market. Short sales are everywhere these days.
I have done quite a bit of home searching for clients recently and it seems like every other home I came across is a short sale. It is almost assured that when I find a home that looks like a really good deal, it turns out to be a short sale.
Check out my article on Pensacola Real Estate Short Sales – Is It Worth It for more information on why short sales are so frustrating for both the real estate agent and the buyer.
Look for more posts coming soon about the number of short sales on the market and the problems with buying bank owned foreclosure properties.
Check out my 6 Month Pensacola beaches market report where I show the active real estate listings and sales on Pensacola Beach and Perdido Key for the first 6 months of 2008.
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 weekly 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.
- They do not include vacant land or lots, mobile homes or manufactured homes or Pensacola FSBOs.
- The numbers above are created 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.
| Currently No Comments »