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.
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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
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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
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Best Buy 10% Off Coupon For Your Holiday Weekend
July 3rd, 2008 Categories: Saving You Money
Although this site is all about news and information on Pensacola real estate, I do like to provide money saving information for my readers when I find it. Here is a link to a 10% off coupon at Best Buy. It is good through July 7, 2008 and is only for use in the store.
If you are planning on making some home improvements, check out my article on how you can get money saving coupons for Lowes and Home Depot.
Saving Money On Home Improvement Projects
If you are in the market for a new home in Pensacola, or anywhere else, be careful about applying for any kind of credit at these stores. They often offer you special deals if you apply for credit, but I just showed you how to get 10% off, so don’t blow your credit score on these gimmicks. It could affect your ability to get a mortgage. See my article below for more information.
Tips On How Not To Lose A Home Loan After You Are Already Approved
Happy 4th of July. Have a safe and fun weekend.
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Pensacola Real Estate News Subdivision Report: Avondale
July 2nd, 2008 Categories: West Pensacola
This article provides a Pensacola real estate market report on the Avondale subdivision. If you are interested in seeing any homes in the Avondale subdivision, or any other homes for sale in Pensacola Florida, please Contact Me for assistance. All of the homes pictured on this page were for sale at the time this article was published.
To see all current Pensacola Homes for Sale in Avondale, click on Search for Homes.
On the Property Search screen, click on the “More Search Options” button.
Then type Avondale into the “Subdivision” category and click the “Search Now” button at the bottom of the screen.
Avondale is located in West Pensacola . It is not within the Pensacola city limits.
Avondale is accessible from Cerney Road or Saufley Field Road.
Avondale is convenient to the Perdido Key Florida beaches and local Pensacola military bases Pensacola Naval Air Station, Saufley Field, and Corry Field. Many other popular Pensacola destinations are under 30 minutes from Avondale. Several grocery stores and a Walmart are within 5–10 minutes of Avondale. 
Information on travel times provided below will depend on traffic and time of day.
Approximate travel times to popular Pensacola destinations:
Downtown Pensacola: 20 Minutes
Cordova Mall / Pensacola Regional Airport/ Pensacola Junior College: 20 minutes
Interstate 10: 10-15 Minutes
Pensacola Beach : 30-35 minutes
Perdido Key Florida: 20 minutes
University Of West Florida: 30 minutes
Pensacola Naval Air Station (NAS) (Home of the Blue Angels): 15 minutes
Saufley Field Naval Base: 5 minutes
Corry Field Naval Base: 10-15 minutes
Escambia County School Districts for Avondale Subdivision:
Elementary: Bellview
Middle: Bellview
High: Pine Forest
Homes in Avondale generally fall into the following ranges:
Age of Homes: Built between 1950’s and early 1990s.
Construction: Varied - Block, brick, vinyl, wood, mostly 1 story
Square Footage: 1400 - 2000
Bedrooms: 3 - 4
Bathrooms: 1-2
Garages: Driveway, or 1 Car Garages - many garages converted to extra rooms
Lot Sizes: .20 - .25 acres
Waterfront? None
Swimming Pools: Of the Avondale homes currently listed for sale in the Pensacola MLS, none had a swimming pool.
Foreclosures: Of the homes currently listed for sale in the Pensacola MLS, none are listed as foreclosure properties.
Home Owners Association. No
Average Days On Market of homes sold in the past year was 114 days.
Rentals: The Pensacola MLS shows 9 homes were rented in Avondale in the past year. Rental rates were between $595 and $850. There is currently only 1 home available for rent. The rent is $780 for this 1500 sq ft 3 bed/2 bath home.
The following table shows Pensacola real estate market data for Avondale. The numbers in the table are created using data from the Pensacola MLS and are deemed reliable but not guaranteed. These numbers do not include sales by Pensacola FSBOs.
As of July 1, 2008, the following homes are for sale in the Avondale subdivision:
The overall percentage difference between list and sales price is only 1.3%. This indicates that most Avondale homes sold very close to their list price in the past year.
I hope this market report on Avondale subdivision was helpful. This market report is a reflection of the Pensacola real estate market as of July 1, 2008.
These numbers will change as the Pensacola real estate market changes. If this report is not current at the time you are reading it (6 months or more after 07/01/08) and you are interested in buying or selling a home in Avondale I recommend that you Contact Me for updated market information on this subdivision.
Related Pensacola Real Estate Articles on other West Pensacola Subdivisions:
Mariner’s Oaks
Bayou Place
Lillian Woods
Shadow Grove
Springfield
Carracres West
Zachary Estates
Related Pensacola Real Estate Articles on other NorthWest Pensacola Subdivisions:
Crystal Creek
Logan Place
Click on Pensacola Real Estate News for a list of articles indexed by category.
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Fully Furnished Home Takes On A Whole New Meaning
June 29th, 2008 Categories: Pensacola Real Estate News, Working With Realtors
A Florida real estate agent is advertising her home for sale. Her ad starts with “Florida Dream Home”. And it does look like a beautiful home. She even posted a couple of photos of the home on her Craigslist ad.
But this home comes with something special. HER!!!
Yes, that’s right, you can buy this beautiful Florida dream home, wife included.
Here is the full headline on her ad: Florida Dream Home with a Dream Princess Bride included (West Palm Beach, Florida)
Deven Traboscia has been divorced for eight years and she is ready to get married. Deven is a single mother and real estate agent. Here is a portion of her ad:
“If you want to live the never ending dream and experience the real love, life and the romance you have always felt was a fairytale then this is the vibrant outstanding woman of your dreams! To sweep this European Loving Lady off her feet send in your application right now ”
You can find the full add at this link on Craigslist.
All my blog post normally fit nicely into predetermined categories. This one required some thought. In the end I decided to put it in the “Working With Realtors” category. Appropriate, don’t you think?
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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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