Pensacola's September Monthly Home Sales and Activities

Inventory remains at record levels and the percent of homes available for sale to homes sold was lower with only 5.75% selling. There were 6,353 active listings with 942 new listings coming on the market in September while there were only 365 sales in September. it appears much of the market is still well overpriced as indicated by the record number of listings that failed to sell. They averaged $320,677 compared to homes that sold with an average sales price of $187,399. The median sales price was $145,200. With only 5.75% of the available inventory selling in September, sellers accepted on average $11,390 lower than their list price to get their homes sold and many agreed to pay much of the buyer's closing costs which could be an additional $4,000 to $10,000 or more. This number is actually worse than it reflects as the last price reduction vs. the Seller's initial list price was sometimes 50% higher and is not reflected in the LP/SP ratios. It appears Sellers putting their properties on the market in September understand it is going to take an aggressive pricing strategy along with aggressive marketing advantage to get their homes sold not just listed. These new sellers on the market have listed their homes on average, $60,236 lower than the average Active List Price. Sellers that sold in September averaged $133,278 lower than the average homes that Failed to Sell. Sellers need to have full service marketing exposure and the best price in their neighborhood to get their home sold as only 5.75% are selling. Listing high to test the market and dropping the price after a couple of months is not a good strategy in this declining value market as you will be chasing values each month. for buyers the market could not be better. A huge selection of fine homes to choose from, interest rates still at great levels and many motivated sellers making their properties available at lower prices and offering favorable terms. NOW IS THE BEST TIME IN YEARS TO BUY YOUR NEXT HOME OR INVESTMENT PROPERTY.

Pensacola Florida's Real Estate Market Is a Great Value

I grew up in Pensacola and as a Navy Brat I had lived in many other cities. None of them had beaches that came close to the sandy white beaches we have. Pensacola was a great place to grow up and I loved spending time on Perdido Key. Now I am living my dream by living on Perdido Key. In 2004 I saw properties values sky rocket and then starting in 2006 start to sink back to levels nobody would have believed they would ever see again. I have often heard people say I wish I could have bought this home 5, 10, 15, 20 years ago...I would be RICH. Normally you can never go back in time and take advantage of those prices. However, today everyone is getting their second chance to go back in time and buy Pensacola homes or waterfront condos at 2003 prices. This is an amazing opportunity for those that will act now and buy. Think about how many times in history you get a chance to buy at prices that are as low as they were 5 year ago. I know our beaches are the still the best beaches in Florida and Perdido Key has been rated in the top 10 in the Nation. Where can you enjoy better beaches?