Archive for the 'Pensacola Market Data' Category
Pensacola Real Estate Market Report For Beach Homes and Condos
March 28th, 2010 Categories: Pensacola Beach, Pensacola Market Data
Here is some compiled data on the Pensacola real estate home and condo sales on Pensacola’s beaches. This includes homes, townhomes, and condos on Pensacola Beach and Perdido Key.
To find out about new homes to be built in the Pensacola real estate market, or existing homes, anywhere in the Pensacola real estate market call Jim Holland at 850-206-6140
Notice the great differences between 2009 and all the previous years listed. The prices in 2009 are considerably lower than all previous years listed, but Days On Market (DOM) are very high. In fact, at $231 per square foot, beach real estate is almost $80 a square foot less than it has been at any time in the past 6 years. This is likely one reason sales are picking up on the beaches.
On the date this report was written, there were 508 active Pensacola homes and condos for sale on Pensacola Beach and Perdido Key.
The charts below give a graphical representation of sales per year and average sold price over the past 6 years.
The graph above shows homes, townhomes and condos sold on Pensacola Beach and Perdido Key over the last 6 years. The graph below shows the average price at which beach real estate sold over those same years.
Given the price level in 2009, this could be considered the best times the past 6 years to purchase Pensacola real estate on the beaches. In an upcoming market report, I’ll look at price levels in the first quarter of 2010.
Related Articles On Pensacola Real Estate News:
The Condo Market Upswing On Pensacola’s Beaches
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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.
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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
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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.
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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
Related Articles On Pensacola Real Estate News:
Pensacola Real Estate Market Report On Beach Homes and Condos
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