Pensacola Market Home Sales Data

The Pensacola Florida residential real estate market has undergone many changes over the past nineteen years. One of the best ways to understand what has happened and where we are today is to analyze monthly home sales data and trends illustrated by the resulting charts.

July 2024 Real Estate Sales Summary:

Sales in the Greater Pensacola and beach areas of condos and homes have come off of record highs of 2022, as seen in the monthly listing sales from the Pensacola MLS on the chart below.

Cash buyers now makeup 26% of all real estate sales in our market. This is up from last Month at 24%.

There were 854 residential sales this July verses 783 sales in July 2023, this is a significant improvement over last year.

The inventory of homes and condos has increased in July to 3240 units. The average residential price this month is $374,538.

The real estate market has slowed, but the number of sales is higher than last year at this time. The current market is now considered a "weak seller's market" slightly favoring sellers.

Recently Sold Homes in Pensacola

See detailed information about the most recently sold homes in Pensacola and Pensacola Beach to understand best what today's real estate market is doing. By looking at the charts below, you can see historically what the market here is doing. You can see recently sold prices, you can see what is happening right now.

Real Estate Market Trends:

The chart below represents monthly sales of residential homes January 2005 through July 2024 Pensacola real estate. The horizontal axis is the month, and the vertical axis is the number of monthly home sales.

The current sales have recently slowed in Pensacola and more like a "normal" market where people are buying and selling homes in the Pensacola area at levels that are now considered a "Weak Sellers market".

The chart above is the change in year-over-year residential unit sales per month. The number of unit sales has increased 9.1% in July 2024 compared to July 2023.

There are good real estate values available on a case-by-case basis, but overall prices are unchanged compared to last year. Good values still sell quickly while overpriced properties can stay on the market for several months.

During a period of normal Market Conditions, people buy and sell for reasons such as; job transfers, upsizing, downsizing and new home buyers entering the market for the first time. During this period, there are more investors that are looking for and finding values.

The Pensacola area July monthly residential average sales price decreased to $374,538, down from $383,996.

in June.

The average appreciation in the Greater Pensacola area. The Pensacola monthly average residential property sales price is up 1.8% year-over-year but down month-over-month 2.5%. The overall average price appreciation rate over the past five years is 9.3 %/year.

The inventory of listed homes in the greater Pensacola and Destin markets in a "Weak Seller's market." The current inventory of available homes and condos for sale has increased in July to 3240 from 3212 residential units in June with the Pensacola MLS.

The number of months inventory is a good indicator of the current real estate market condition, that is, is it a buyer's, seller's, or neutral real estate market. Under four months is considered to be a seller's market. The July number of months inventory is 3.8 months, a weak sellers Market. The number of months is the time it would take to sell the current inventory of real estate listings.

The chart above provides information regarding how long homes take to sell on average; this measurement is referred to as "number of days on the market." The smaller the number means homes are selling quickly. The days on the market for July 2024 is 60 days.

Real Estate Sales by Property Type and Year for 1999-2023

Residential Real Estate Sales by Year

The chart above presents annual residential sales from 1999-2023 from the Pensacola MLS. As you can see, 2021 was an extraordinary year exceeding 2023 in sales.

Condominium Sales by Year

The chart above presents annual condo sales from 1999-2023 from the Pensacola MLS. 2021 was an exceptional year for condo sales as well in the Pensacola area. The average number of sales since 2013 has been near 600 units. In 2021, 828 units blew this average away. In 2023 there were 565 units sold.

Condominium Market Reports

Take the time to see everything these detailed real estate reports can provide to property buyers and sellers alike.

Pensacola Beach Condo Market Reports -|- Perdido Key Condo Market Reports