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Pensacola Real Estate Market Report: February 2010

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.

Pensacola Real Estate Market Report February 2010

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.

Posted by Karl Burger | Currently No Comments »

Pensacola Real Estate News Market Report For Week Ending August 9, 2008

Pensacola Real Estate Market Data
Weekly Update For Residential Listings 
In Escambia and Santa Rosa Counties
 

Pensacola Real Estate Market

Pensacola Real Estate Market

 

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.

Posted by Karl Burger | Currently No Comments »

Pensacola Real Estate Weekly Market Report for Week Ending May 10, 2008

Weekly Update For Residential Listings 
In Escambia and Santa Rosa Counties

Pensacola Real Estate Market Data

Pensacola Real Estate Market Data

 

Here is another weekly Pensacola real estate market report. Note that this one is a little late in coming, as it covers the week of May 4-10. I have taken to waiting a little longer to publish these reports for one simple reason. The longer I wait the more accurate the numbers are in regards to homes sold. In a nutshell, I’m saying some real estate agents are just too lazy or too busy to put their sold data into the MLS in a timely manner after they sell  a home.

Here is an example. On May 14, I checked the number of homes sold for the week of May 4-10. The number of recorded homes sold was 60. I then checked again on May 20, and the number of homes sold for that week had jumped to 75. I can check again next week and can almost guarantee that number will have jumped to over 80.

Personally, I don’t quite understand the delay in getting Sold Data into the MLS. It doesn’t take very long, and most real estate agents have the time to spend a few minutes inputing their sold listings. Delaying putting in this data is also a disservice to other real estate professionals who need that comparable data for their buyers and sellers. I’ll get off my soapbox now. At least now you can see why I delay putting out these reports, but would never delay putting in my sold data if I sold a home.

So what is new with the market? Not much. Inventory is holding steady, but Days On Market did drop quite a bit as compared to previous weeks. That is probably just an anomaly, but we’ll see in the weeks to come.       

- The table shows the weekly market data for Pensacola residential property.
- These numbers include only residential homes and condominiums in Escambia and Santa Rosa Counties 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.

 

Posted by Karl Burger | Currently No Comments »

Pensacola Real Estate Market Data for Week Ending April 12, 2008

 Weekly Update For Residential Listings 
In Escambia and Santa Rosa Counties

 Pensacola Real Estate Market Data

Welcome to this week’s weekly Pensacola real estate market report. Pensacola home sales surprisingly jumped the previous 2 weeks, but seem to have dropped off this past week.  All of the other data seem rather standard for this buyer’s real estate market, but it is good to see a little movement in home sales. Keep an eye on my weekly market reports to keep tabs on the direction the real estate market is moving.     

- The table shows the weekly market data for Pensacola residential property.
- These numbers include only residential homes and condominiums in Escambia and Santa Rosa Counties 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.

Posted by Karl Burger | Currently No Comments »

Pensacola Real Estate Market Data for Week Ending March 15, 2008

Weekly Update For Residential Listings 
In Escambia and Santa Rosa Counties

 Pensacola Real Estate Market Report

Welcome to this week’s weekly Pensacola real estate market report. Pensacola home sales rose a little from the previous week, but overall, there are no significant changes in this market to speak of. I’ll keep posting the weekly reports to keep tabs on the direction the real estate market is moving.     

- The table shows the weekly market data for Pensacola residential property.
- These numbers include only residential homes and condominiums in Escambia and Santa Rosa Counties 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.

Posted by Karl Burger | Currently No Comments »

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