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.

April 2023 Real Estate Sales Summary:

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

Cash buyers now makeup 29% of all real estate sales in our market.

There were 760 residential sales in April 2023. This is down from the previous month and down year-over-year. Last year there were 985 sales in April.

The inventory of homes and condos remains stable but is still low, and the average residential price this month is $376,444.

The real estate market has slowed, and the number of sales is lower than last year at this time. The current market is still considered a "seller's market."

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. By looking at 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 2004 through April 2023 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. People are buying and selling homes in the Pensacola area at levels that are now considered a "seller's market".

The chart above is the change in year-over-year residential unit sales per month. The number of unit sales has decreased 23% in April 2023 compared to April 2022.

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 April monthly residential average sales price is up to $376,444 from $370,274

in March.

The Pensacola monthly average residential property sales price is up 0.1% year-over-year and up month-over-month 1.7%. The average appreciation in the Greater Pensacola area. The overall average price appreciation rate over the past five years is 13%/year!

The inventory of listed homes in the greater Pensacola and Destin markets in a "sellers market." The current inventory of available homes and condos for sale low at 1751 residential units in 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 April number of months inventory is 2.3 months. 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 April 2023 is stable at 52 days, but this is still relatively low for the Pensacola market as the chart above illustrates.

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 1999-2022 from the Pensacola MLS. As you can see, 2021 was an extraordinary year exceeding 2020 sales by 1,764 and 2022 by 1034 units sold.

Condominium Sales by Year

The chart above presents annual condo sales from 1999-2022 from the Pensacola MLS. 2021 was an exceptional year for condo sales in the Pensacola area. The average number of sales since 2013 has been near 600 units. In 2021, 828 units blew this average away by 38% more sales. In 2022 there were 664 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