Archive for the 'Pensacola Market Data' Category
Pensacola Real Estate Beach Market Report For The First Half Of 2008
July 20th, 2008 Categories: Pensacola Beach, Pensacola Market Data, Perdido Key
Pensacola Market Data For Residential Properties
On Pensacola Beach And Perdido Key Florida
January - June 2008
The numbers in the table show the Pensacola real estate sales on the beaches for the first 6 months of 2008.
As of the writing of this report there are 11 Perdido Key Condo sales Pending and 6 Pensacola Beach Condo sales Pending. The total number of homes and condos for sale on the beach has not increased since January, so we are holding steady on inventory in the mid 700s.
The table above just gives a snapshot of the market at this time, which does not really tell a story. The table below is much more interesting.
Pensacola Market Data For Beach Homes and Condos
On Pensacola Beach And Perdido Key
For the First 6 Months Of Each Year
Be aware that the numbers showin in the table are only for the 1st 6 months of each of the years listed. This was the only way to make a good comparison to 2008. At the end of 2008 I can give you a full years worth of data on the beach real estate report.
What we can see in this table is the way the real estate markets on the beaches have moved since 2000. Here are some observations:
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If you purchased beach real estate from 2000 to 2004, you are doing well as far as the value of your investment
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2002-2004 were the hottest years as far as beach real estate sales volume. During this period, the beach homes and condos were much more affordable and we saw sales from 180 to almost 300 units.
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2005-2007 saw decreasing sales and increasing days on market as prices rose sharply.
Now in 2008 we see sales up just a little above the 2007 levels and prices holding steady. Many Pensacola real estate agents believe that prices on the beaches have pretty much bottomed out. I will provide future reports on the beaches and we’ll see if that is indeed true.
- The table shows real estate market data for Pensacola condos and residential homes on the beaches.
- Vacant land or lots are not included.
- 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.
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Pensacola Real Estate Weekly Market Report For Week Ending July 12, 2008
July 18th, 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 6 - 12.
After a very good end-of-June showing in the local real estate market, we have had a major slow down this week. That is fairly typical for the beginning of the month. I’m just hoping for something fun to write about, but there is really nothing new to report this week, so I’ll go with the same short sale blurb that I used the previous week. It still applies, and apparently will for quite some time.
I have done quite a bit of home searching for clients this few weeks and it seems like every other home I came across is 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.
Look also for an upcoming 6 Month beach report where I will 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.
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Pensacola Real Estate Weekly Market Report for Week Ending July 5, 2008
July 11th, 2008 Categories: Pensacola Market Data, Pensacola Real Estate News
Pensacola Real Estate Market Data
Weekly Update For Residential Listings
In Escambia and Santa Rosa Counties
Welcome to the weekly Pensacola real estate market report. This one covers the week of June 29-July 5.
We saw a big jump in sales at the end of May. The jump in home sales at the end of June actually surpassed that of May, which is great news. The table doesn’t show it because the table is on a Sunday-Saturday week. However, from June 24-June 30 the total home sales reached 178.
Days On Market (DOM) is up a little, but that is attributed to several high end homes selling that had been on the market for 500 to 900 days. If we take out these oddball sales, average DOM for Pensacola homes sold during that week comes to 155 days.
I have done quite a bit of home searching for clients this past few weeks and it seems like every other home I came across is a short sale.
If you want to know more about short sales, 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.
Look also for an upcoming 6 Month beach report where I will 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.
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Pensacola Real Estate Market Report By Area: January-June 2008
July 9th, 2008 Categories: Pensacola Market Data, Pensacola Neighborhoods
Here is the first of its kind (for me anyway) Pensacola real estate market report broken down by area. The areas are based on the Pensacola Multiple Listing Service (MLS) areas, which is the only way I can break it down and provide you with meaningful real estate market statistics.
Why would this table be useful to you as a real estate buyer or seller?
I can think of several reasons.
Sellers:
The number of active listings gives you a number to gauge the competition in your area. Use this in conjunction with the “Listed To Sold Ratio” number. The lower the percentage, the harder it will be to sell your home in the given area.
The Days On Market (DOM) will give home sellers an idea of the average time it takes in their area to sell a home. If you price your home to sell, you can come in way under that average.
Buyers:
The number of active listings gives you an idea of the inventory of homes on the real estate market in that area. A higher number of homes for sale will mean you have more to choose from.
The average price and average price per square foot gives a good indication of the prices of homes in the given area.
Refer to the map image below to get a rough idea of the area delineations:
Now lets look at the winners and losers in our market survey, based on homes sold vs homes on the market.
WINNERS:
Milton Florida scores a big #1 for the most the most homes sold in the first half of 2008. Coming in at a close second is Southwest Pensacola. This is no big surprise as these are 2 areas closest to our largest military bases, Whiting Field and Pensacola NAS.
Northeast Pensacola also comes in a big winner with the lowest number of Days On Market (DOM), followed closely by Southeast Pensacola. In addition, Northeast Pensacola comes in 6th place as the area with lowest average home price and has a homes listed to sold ratio of 43%. So if you want to get a lot of home for your money, and hope for the quickest sale of your home, consider Northeast Pensacola to be a good bet.
Last Place WINNERS
(I hate the word losers, and how can you call the beaches losers. They are some of the most beautiful beachs in the world.)
Perdido Key is taking the worst beating, followed closely by Pensacola Beach. (Note that I am ignoring Jay and Molino/Century for the most part, as there is minimal interest in these areas.) When looking at the beaches, you can see that they have the lowest ratio of homes/condos sold to the homes/condos on the market, and they come in priced higher than any other areas in Escambia and Santa Rosa county. No big surprise there either. The beach is a great place to live if the weather cooperates, and you will pay a premium to live there.
Notes and Disclaimers:
Data in the table was taken from the Pensacola MLS and is deemed reliable, but not guaranteed.
The Active Listings Column shows homes on the market as of the end of June 2008. These numbers are for Residential homes and Condos in Escambia County and Santa Rosa County. They do not include vacant land, mobile homes or manufactured homes.
The Homes Sold and Average Prices are based on homes sold in the given area from January to June of 2008.
In the near future, if my motivation holds up, I will be posting detailed information on each of these Pensacola MLS areas. I hope to make this a great overall Pensacola real estate reference that will be useful to buyers and sellers in the Pensacola real estate market.
Click on Pensacola Real Estate News for a list of articles indexed by category.
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Pensacola Real Estate News Monthly Market Update for June 2008
July 7th, 2008 Categories: Pensacola Market Data
Pensacola Market Data For June 2008
Residential Properties in
Escambia and Santa Rosa Counties
The table shows the Pensacola real estate market data for the month of June 2008, as compared to previous months. Pensacola home sales have not quite reached the level they did in May, but they may get there yet as slower agents put their sold listings into the MLS.
It is hard to write much of an exciting report given the numbers in the table. Not much has really changed overall. We remain in a somewhat stagnant real estate market in the Pensacola Florida area. But many real estate agents have reported increased activity.
If you look back to September of 2007, the big change you will see is that we have over 500 fewer homes on the market now than we did back then. In my opinion this isn’t the result of more homes being sold. It simply comes from sellers who overpriced their homes taking them off the market.
Keep checking back for my weekly and monthly updates to keep abreast of what is going on in this market.
And remember buyers, if you are waiting for the market to bottom out, it is likely the real estate market will be moving back up by the time you buy. Go find the good deals now.
- The table shows the monthly 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.
- 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.
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Pensacola Real Estate Market Report For Week Ending June 28, 2008
July 5th, 2008 Categories: Pensacola Market Data
Pensacola Real Estate Market Data
Weekly Update For Residential Listings
In Escambia and Santa Rosa Counties
Welcome to the weekly Pensacola real estate market report. This report covers the week of June 22-28.
We saw a big jump in sales at the end of May. The jump in home sales at the end of June was actually a little higher.
If you look at the full last week in June, which is June 24-30, total sales were 159+. More sold properties will be added as slowpoke real estate agents put in their closed listings.
I have noted, as have many real estate agents that I have spoken to, that things are picking up.
I have done quite a bit of home searching for clients this past week and it seems like every other home I came across was a short sale.
Read 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.
Currently, the Pensacola MLS doesn’t have a specific field for Short Sales. This makes it hard to determine just how many short sales are listed in the Pensacola market.
However, next week the MLS will be updated to include a new searchable field that will include a Short Sale category. This will help us determine just what our percentages of short sales on the market are.
I have asked over the past several weeks why all these bargain priced homes are just sitting on the market and not being purchased by saavy buyers? Now I wonder if buyers are trying to purchase them but the banks are just too overwhelmed with foreclosures to deal with the offers coming in.
If you can buy now, it is a good time, in my opinion.
See my article: Buy Now Or Pay Later - Pensacola Real Estate Mortgage Rates Are Rising
Look for an upcoming 6 Month beach report where I will show the active real estate listings and sales on Pensacola Beach and Perdido Key for the first 6 months of 2008.
- 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.
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Pensacola Real Estate News Weekly Market Report for Week Ending June 21, 2008
June 29th, 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 June 15-21. We saw a big jump in sales at the end of May, but that is attributed to an end-of-month spike in real estate sales, since more closings tend to take place toward the end of the month.
Are we headed for a big spike in real estate sales for the last week of June like we saw in May?
Check back next week and find out. As of the date this report was written, there have been 86 sales for June 22-28.
But we still have to account for those real estate agents who wait many days or weeks after closing to put in their closed sales. I wish the Pensacola MLS would make a rule that all real estate agents had to update the Pensacola MLS listings as sold within 3 business days of the closing date.
Punishment for failing to abide by this rule would see the agent forced to stage open houses at overpriced ugly homes for the next 2 weekends.
The overall home sales for May were 437, which is higher than any month since August of 2007. Right now sales for June are coming in at 331 with only 2 days left in the month. It doesn’t look like June will surpass May in sales.
I ask again (like I did last week), why are all these great home values just sitting?
As always, I am wondering when buyers are going to recognize the incredible deals that are available out there right now. It will probably be once the market starts moving up again, and then you will hear everyone lamenting that they didn’t buy when the market was at its lowest. They may also be lamenting having to pay a higher interest rate in the very near future.
See my article: Buy Now Or Pay Later - Pensacola Real Estate Mortgage Rates Are Rising
Look for an upcoming 6 Month beach report where I will show the active real estate listings and sales on Pensacola Beach and Perdido Key for the first 6 months of 2008.
- 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.
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