Saturday, March 1, 2014

Pensacola Real Estate Market Report~

Pensacola Real Estate Market Reports~
Escambia & Santa Rosa County recap of 2013 Real Estate Market

Every quarter, the Pensacola Association of Realtors releases local real estate market reports.  I want to share with you the results of the 4th quarter of 2013.

Here are a few highlights:
  • Prices are up but price growth is slowing:  The current median home price was $149,400 for Pensacola compared to $197,000 National Average 
  • Florida's economy has outpaced the rest of the US:  Employment is strong and on an upward trend with lower unemployment than the national average
  • Pensacola area New Construction is on the rise with almost 10% more new construction than the national average.
  • Home Ownership in the Pensacola area is more affordable than most markets:  The monthly mortgage payment to income ratio was 8.7% for 2013 in Pensacola with 14.9% for national average. 
Interest rates are expected to increase some during 2014 with a projected average 30 year fixed mortgage rate of around 5% for 2014.

This is great news for the improving Pensacola area real estate market and for both Escambia & Santa Rosa Counties in Northwest Florida.

Do you have any questions about the Pensacola real estate market or rental market? Let our friendly agents answer them. Email your questions to Nicoles@PensacolaRealtyMasters.com or call us today (850) 473-3983.  Find your Pensacola dream home on our website http://www.PensacolaRealtyMasters.com

Thanks and have a great day,
Nicole St. Aubin, Broker Associate
Realty Masters of FL~ #1 in Pensacola Rental Homes!

Nicoles@PensacolaRealtyMasters.com
4400 Bayou Blvd. #58B, Pensacola, FL 32503
Call us at (850) 473-3983
Over 45 Pensacola Rental Homes at 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!