Wednesday, July 3, 2013

June 2013 Pensacola Real Estate Market Update!

June 2013 Real Estate Market Update!
By Pam Keen Brantley in Pensacola, FL~

Number of Homes Available in the Pensacola metropolitan area:

At the end of June Pensacola Multiple Listing Service (MLS) database showed:
  • 3,341 active listings active in Pensacola MLS (Escambia & Santa Rosa Counties)
  • 1,327 listings listed currently under contract (as contingent or pending.) Some of these may fall through due to inability to get financing or not passing inspections, but this is certainly a sign of continued recovery in our local market.
Number of Homes Sold in the Pensacola metropolitan area:

June 2013 -      489          June 2012       53
May 2013  -     576           May 2012       452
April 2013  -     490          April 2012       438

The average days on the market for listings has decreased with 136 days on the market compared to 166 days on the market in May 2012.
Northeast Pensacola home available for purchase at $175K, the
average sales price for a home in the Pensacola metropolitan area

Home Prices in the Pensacola Real Estate Market:

The average sold price for May 2013 is higher at $178,775 compared to $175,733 a year ago in May 2013.  The average sold price for June 2013 was considerably higher at approximately $190,000 in Pensacola MLS.

Homes sold in all price ranges and locations including Pensacola Beach, Pace, Milton, Gulf Breeze, Navarre, Cantonment, Perdido Key, Beulah, and of course Pensacola. A piece of land sold in Pensacola as low as $3,000 while a 6,000 square foot waterfront home in Gulf Breeze sold the highest at $1,300,000.  

Other Important Factors:

Last Friday, interest rates jumped up almost a percent which marks the biggest increase in years.  Interest rates are creeping up (as are prices) so if you have been on the fence about whether to buy or sell it may be time to jump into the Pensacola Real Estate Market.

 Those who need to sell in order to move may consider taking a small loss on the sale of a smaller home to take advantage of the still low prices on new construction or upscale resales.

Pensacola Real Estate Market 2013
Many homeowners are choosing to
rent their home instead of selling.
If you need to move you may also consider renting your home out for a few years while the market improves.  Realty Masters is the largest property management company in Escambia & Santa Rosa Counties with over 750 rentals managed.

The Pensacola Rental Market is thriving! Rents are increasing. 3 and 4 bedroom rental homes are in high demand.  There are currently 7 times as many homes for sale in the Pensacola area as there are for rent.  Rents will continue to rise as supply is low.

If you are considering leasing your home while the market recovers, contact our agents!  For a free rental market analysis for your home, visit our website here.  Feel free to email your questions to Nicoles@PensacolaRealtyMasters.com or just call Pam, Nicole, or Keven at (850) 473-3983.

Questions about your Neighborhood?

If you would like a free estimate of value on your home this summer contact the Professionals at Realty Masters for all your Real Estate needs. Email Pam@PensacolaRealtyMasters.com or call her at (850) 232-2200.

If you are interested in purchasing your own home, visit our website at http://www.Pensacola-GulfBreezehomes.com to find your dream home today!

Talk to you soon!
Pam Keen Brantley, CAPT, USNR Ret.
4400 Bayou Blvd. #58B, Pensacola, FL 32503
(850) 473-3983 Office / (850) 232-2200 Mobile
www.PensacolaRealtyMasters.com

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Thank you~ Enjoy your day and check back with us for more great information on the Pensacola area!