Like the majority of housing markets across the country, the Pensacola market (Escambia and Santa Rosa Counties) has seen housing inventories drop and prices increase over the past year. Pensacola home sales (single family, two counties) for the year ending in February were over 11 percent higher than the previous year. At the same time the average Pensacola home sale price jumped almost four percent.
A March 8, 2013, article in the Business Insider titled, “Why a Bunch of Economists Expect the US Housing Market to Go On a Tear,” pointed out that numerous economists across the country have revised their home price forecasts up from the four to five percent range to the eight to ten percent range.
The current Pensacola housing market has an inventory of 8.89 months of homes for sale, compared to 13.68 months of inventory two years ago and 11.62 months of inventory a year ago. Pensacola homes sales are brisk with February 2013 sales up 17 percent over February 2012 Pensacola home sales. Information taken from the Pensacola Multiple Listing Service.
The trend in Pensacola home sales matches that reported by www.FloridaRealtor.org. Florida Realtors president Dean Asher was quoted as saying, “Each month brings more positive signs for the state’s housing market.” The latest housing data released by Florida Realtors reported more closed sales, rising median prices, increased pending sales, more new listings and reduce inventory of homes for sale in February.
For regular updates on the Pensacola real estate market and to see ALL Pensacola homes for sale visit our website; www.PensacolaForYou.com.