At this time in 2016, we were forecasting a good year. As it turned out, 2016 exceeded all sales expectations and was the second best year for residential real estate sales in the history of the greater Pensacola area.

As you can see in the above chart, real estate sales have been growing continuously year-over-year since 2011. Some of the key reasons for the ongoing upward trend are listed below.

• Pent-up demand - have waited for better times to buy a second home or investment property
• Employment - After unemployment hit a high here in January 2010 at 10.8% is now at 5.1%.
• Population growth - The population in Escambia County as increased by 4.2% since 2010
• Few Distressed properties - in January 2011 distressed properties (both foreclosures and short sales) made up 18% of all listings; in 2016 this number is 4%.
• Fewer Upside down mortgages - More people can now buy and sell homes
• Mortgage rates are still very low - Currently, rates are slightly over 4%
• Credit is getting easier to obtain - Lenders are loosening up on down payments and credit scores
• Bad credit scores are getting better - People with foreclosure or short sale in their past (7-10 rears ago) are now able to qualify. Everyone’s credit is improving for the most part.
• Growing number of retirees - Aging population want to move to Florida

2016 closed out with a strong December, the third best December ever for properties listed in the Pensacola MLS. We anticipate 2017 to be as strong a year as 2016, but most likely better.

The number of condominium sales has remained stable since 2013, nearing 600 units per year. This plateau in condo sales appears to be a result of no new units have been built since 2008. There are currently several condo complexes under construction or in the planning phase that will affect future sales numbers.

Beach condos are still very popular with families and retirees alike. Everyone loves the beach, but not everyone can perform the upkeep a beach home requires. The low maintenance benefit makes owning a condominium a winner for many buyers. Beach properties are often placed on the vacation rental market with not in personal use to reduce the net cost of ownership.

There are some important economic changes that will influence sales to the upside.

• New construction of homes and condominiums
• Changes in personal and corporate tax rate
• Reduced bank regulations
• Wage and job growth
• Downtown business and residential developments
• Continued population growth

In 2016, Emerald Coast Realty exceeded projections and completed our best year in real estate sales. Our expert team of real estate agents worked hard with sellers and buyers to provide the best experience possible during their transaction. We pledge to do the same with you in 2017.

See more detailed home sales data and information about the Pensacola real estate market.

Written by: Emerald Coast Realty

Now that Christmas and the New Year’s festivities are behind us, Pensacola’s thoughts turn to Mardi Gras. Local bakeries offer King Cakes of all varieties, and several restaurants have cakes delivered from New Orleans.The red and green holiday decorations from last month give way to purple, green, and gold.

Mardi Gras celebrations in Pensacola date back to the1870’s, making it one of the oldest in the United States. Parades in Pensacola and Pensacola Beach tend to be family friendly and well attended.

One of the largest parades is the Pensacola Mardi Gras Grand Parade on February 25th. This parade rolls down the heart of downtown Pensacola, one of the original celebration sites for Mardi Gras in the U.S. and is the highlight of the Mardi Gras season each February. This parade lists over 6,000 participants and starts at Spring and Garden St at 2:00 pm. Look for downtown vendors to join in the celebration with food and libations as well as activities for the kids and fun zones free of alcohol.

Pensacola Beach

Downtown Pensacola is the place to be for our Mardi Gras Street Party on February 28, 2017. The procession begins at 5:00 pm at Palafox and Government Street.

You can proactively work off those Mardi Gras calories at the Double Bridge Run on February 4, 2017. Starting at 101 W Main Street, this event crosses over two bridges, across Pensacola Bay and Santa Rosa Sound. The course includes Pensacola's historic district, Bayfront Parkway, a run through Gulf Breeze, and onto Pensacola Beach. The 5K invites both runners and walkers to travel from Gulf Breeze to beautiful Pensacola Beach on Santa Rosa Island and the Gulf Islands Seashore.

While you find yourself downtown, be sure to check out the vendors on Saturday morning at the Palafox Market. The market offers to produce, baked goods, plants, art and jewelry sold by the good folks who grew, baked and made their wares. No weekend is complete without a trip to the market and then on to Joe Patti’s.

Thousand Oaks is a peaceful, family friendly, desired development located in Pace FL, surrounded by a woodland landscape with magnificent oaks and old growth pines. This beautiful all brick home has many amenities such as Architectural shingles, a 14x16 screened patio, two-car garage, colorful landscaping and warm curb appeal.

The architectural design of the home is stunning, from the arched entry ways to the cathedral ceiling. The large open floor plan welcomes you inside with a great room that is 30' wide, a beautiful tiled fireplace, plant ledges, separate dining room, breakfast room and office. The split floor plan offers privacy to the master suite. The master bath has dual vanities, two walk-in closets, a garden tub, separate shower and water closet. Each guest bedroom also has over-sized closets. The elegant kitchen features a breakfast bar, granite counters, inset sink, shaker style cabinetry, a spacious pantry and stainless steel appliances with flat top stove and built-in microwave.

It is obvious that this home is very well maintained. It is in like new condition with desirable upgrades. The beautiful location and community lend greatly to the beauty of this home. Perfect for a family, conveniently located to shopping, dining and is a short drive to canoeing on the Blackwater River and the peaceful beaches on the Gulf of Mexico.

Call Kim Gibbons at Emerald Coast Realty to schedule a tour, 850-437-5618.

See listing detail page for 5215 English Oak Dr in Pace, FL 32571.

Yellow River Plantation is an upscale neighborhood located on the outskirts of Crestview, Florida. It is well known for its huge one-acre lots and gorgeous home designs. The community has miles of nature hiking trails, a children's playground, a seven-acre park and picnic area with gazebos and two stocked fishing ponds.

Built in 2014, this gorgeous, immaculate home at 6519 Welannee Blvd in Laurel Hill, has an extra tall, 8-foot privacy fence surrounding a spacious back yard, perfect for families. The open patio is a great place for outdoor dining. Prepare to be impressed by the beautifully designed floor plan which offers large open spaces and a gorgeous tile stone as the centerpiece of the living area.

The kitchen has everything a chef could want with a center island, loads of granite counters, a spacious pantry, stainless steel top of the line appliances, a double oven and more. The master suite has two huge walk-in closets, a double vanity, separate shower and water closet. There are three additional guest bedrooms and two additional guest bathrooms. The three-car garage offers plenty of room for storage.

Living in this neighborhood is everything a family would desire. Located just five minutes from Crestview High School, grocery stores, shopping, and restaurants. A fantastic opportunity to live in an amazing community.

Call Melinda Feldner at Emerald Coast Realty to schedule a tour, 850-437-5618.

See listing detail page for 6519 Welannee Blvd, Laurel Hill FL 32567.

Have you been daydreaming about long walks, hand in hand on the beach in Perdido Key? Have you ever wanted to live in luxury on the water? This gorgeous waterfront home at 365 Gulfview Lane in exclusive Parasol West is everything you have ever dreamed of, and it is waiting for you.

Three levels, five bedrooms, four and a half baths, mother-in-law suite, elevator, open floor plan, gated community and so many upgrades. The third level is dedicated to the private master suite and balcony which has a landing that overlooks the living area with 20-foot ceilings. The spacious open floor plan flows into the large chef's dream kitchen with granite top island and a huge balcony with outdoor bar and cook area.

All five bedrooms are spacious and have plenty of room for sitting areas. The first level mother-in-law suite guest quarters has a kitchenette, full bath, private bedroom, large living area and built-in Murphy bed as well as a private walk-out patio. With a private beach, access to the community boat launch, pier and boat slip available, what a fabulous place to live, play and work.

 Call Miriam Rowland at Emerald Coast Realty to schedule a tour, 850-437-5618.

See listing detail page for 365 Gulfview Lane, Perdido Key, FL 32507.

Are you looking for convenience? Then you have found it at 4807 Birchwood Place in Pensacola. This lovely home is near hospitals, the mall, movie theaters, the interstate, and the beach is minutes away. This property would make a great rental investment opportunity or if you want to downsize. It would even be the perfect starter home.

Three bedrooms, two baths, with vaulted ceilings and a great layout for entertaining. Spacious living room opens to the dining room and kitchen leading out to the large backyard and open patio. Perfect for family gatherings.

The property is nestled in a quiet neighborhood, far enough away from the action but close enough to walk to restaurants, shopping, and entertainment. As you pull up, the first thing you will notice is the tiered planting beds adding to the curb appeal of your home.

Call Todd Atichson at Emerald Coast Realty to schedule a tour, 850-437-5618.

See listing detail page for 4807 Birchwood Place, Pensacola, FL 32503.

Are you in need of a home big enough for a family, in a great location with amenities, ready for occupancy? Located at 3240 Rothschild Drive, just off Scenic Highway, this newly renovated, three bedrooms, two bath home has just become available. Step inside and check out all the beautiful new hardwood vinyl flooring that flows from the living, dining, and family rooms and throughout all three bedrooms. The kitchen has tons of cabinets, extra counter space, and a new tile accent backsplash.

The dining room is large enough for the entire family to gather around and enjoy the view through the French doors that open to the covered patio which provides plenty of shelter from those hot sunny days. Cool off by taking a dip in the large in-ground pool with new pool liner. There is plenty of room for a garden in the backyard which is surrounded by privacy fence. The front drive is wide enough for guest parking. The home is in a great school district and only a few minutes from the area's famous beaches, dining, and entertainment.

Call Kim Gibbons at Emerald Coast Realty to schedule a tour, 850-437-5618.

See listing detail page for 3240 Rothschild Drive, Pensacola, FL 32503.

Trends in the housing market will take a “new stage” in 2017, one on which millennials, the suburbs and Trump all play a starring role, a recently released forecast expects. The portal’s top five predictions for the upcoming year:

1. Home values will grow 3.6 percent in 2017. National home values have risen 4.8 percent so far in 2016.

2. Cities will focus on denser development of smaller homes close to public transit and urban centers.

3. More millennials will become homeowners, driving up the homeownership rate. Millennials are also more racially diverse, so more homeowners will be people of color, reflecting the changing demographics in the U.S.

“Renters should have an easier time in 2017,” says Svenja Gudell, Zillow chief economist. “Income growth and slowing rent appreciation will combine to make renting more affordable than it has been for the past two years.”

4. New-home buyers will have to spend more as builders cover the cost of rising construction wages, driven even higher in 2017 by continued labor shortages, which could be worsened by tougher immigration policies under President-Elect Trump.

“There are pros and cons to both existing homes and new construction, and the choice for homebuyers can often be difficult,” says Gudell. “For those considering new construction in 2017, it's worth considering the added cost that may come amidst ongoing construction labor shortages that could get worse if President-Elect Trump follows through on his hardline stances on immigration and immigrant labor. A shortage of construction workers, as a result, may force builders to pay higher wages, costs which are likely to get passed on to buyers in the form of higher new home prices.”

5. The percentage of people who drive to work will rise for the first time in a decade as homeowners move further into the suburbs seeking affordable housing—putting them further from adequate public transit options.

“Those looking for more affordable housing options will be pushed to areas farther away from good transit options, in turn leading more Americans to drive to work,” says Gudell.

Reprinted permission of RISMedia. ©2016.

Looking for an affordable home in a great family friendly neighborhood? We may have found just the house for you. This well-maintained home with a split bedroom design at 10804 Creek Ridge Dr is in Woodridge Manor Subdivision, West Pensacola. It has an open floor plan, single car garage, fenced yard and concrete drive. Very inviting and perfect corner lot location.

Loaded with recent updates; this home has brand new floors, new paint, and a brand new roof. There is plenty of open space with the high arched ceiling in the living and dining area, as well as a floor to ceiling fireplace and the huge screened patio. There is plenty of room for entertaining and even more than enough room to add a pool or for your pets to play. This beautiful lot has an additional wooded space past the privacy fence which offers the option to expand the large yard even further.

At this price, location and being in ready to move in condition, this home will move quickly. Give Nicole Gilchrest with Emerald Coast Realty a call to set up your personal tour, 850-437-5618.

See listing detail page for 10804 Creek Ridge Dr., Pensacola, FL 32506

The allure of living on the water in Pensacola is powerful and undeniable. So many homeowners dream of one day owning a home on the water. You are just seconds away from many water activities such as boating, fishing, kayaking, skiing, wakeboarding and much more. Instead of struggling for boat access, you can have a private boat access and dock. Homes on the water retain their value longer due to their desirability and limited supply.

Opportunities to find the perfect location to build your dream home are not always easy to find, and everyone knows location is key. You want to be close to the best amenities in the area but far enough away to enjoy the peaceful quiet of nature.

This beautiful West Pensacola home site offers the best of it all, including 100 feet on beautiful Perdido Bay. It is well known for the gorgeous sunset views and beautiful mature trees. This lot is two parts, with 100 x 150 feet across the street from the Bay and 100 x 25 feet on the Bay. Allowing you to fulfill the dreams of a private dock or boat house and still have your home close enough to enjoy the gorgeous views. A great opportunity for a great property.

To inquire about this property contact Kim Gibbons, Broker at Emerald Coast Realty, 850-437-5618.

See listing detail page for this lot on Lillian Hwy, Pensacola FL 32506