Local Real Estate Market Conditions and Recent Sales Statistics
Pensacola, Florida real estate is abundant, affordable, and a strong investment! We are proud to make Escambia and Santa Rosa County, FL, our permanent homes, and it is our pleasure to assist you with finding your new home or investment property in our area!
Pensacola is located in the Northwest Florida panhandle and is commonly referred to as "The Western Gate to the Sunshine State" With a population over 400,000 residents, Pensacola has been ranked the 70th fastest growing metropolis in the country. The city of Pensacola is over 450 years old, with a rich history behind it. Pensacola was founded by Spain and later became the first European settlement in America! Pensacola's history is celebrated in downtown Pensacola, especially within the Seville Historic District and at the Museum of Art in downtown Pensacola.
Pensacola Beach is one of the most beautiful beaches in the world. With sparkling white sand and blue water, Pensacola Beach has over 52 miles of protected land bordering the Gulf of Mexico. With thriving nightlife, shopping, restaurants, parasailing, boating, fishing, swimming, tanning, and much more, Pensacola Beach has a lot to offer. The weather in Pensacola is perfect for enjoying the beach; Pensacola has an average of 343 days of sunshine a year. The average high for Pensacola is 77 degrees and the average low is 60 degrees.
Pensacola also has a strong military influence. It is home to The Naval Air Station located in Pensacola. It is also home to the National Naval Air Museum and the Blue Angels. Likewise, Pensacola is home to many active duty and retired military. In fact, Realty Masters broker Pamela Keen is a retired Navy Captain. She transferred to Pensacola in 1981 and decided to make Pensacola her home.
Our current Pensacola real estate market is a buyer's market, with over 4,800 residential listings currently for sale. As far as our local market- Here is some history as to sales and median prices in the area since 2007. In 2007, there were 5,880 homes sold with a median sales price of $207,000. In 2008, there were a total of 4,035 homes sold in the Pensacola area with a median sales price of $152,900. In 2009, there were 4,137 homes sold with a median price falling to $149,900! The median home price in Pensacola has fallen over 25% since 2007! The time to buy is now!
Since the end of the Homebuyer Tax Credit in April coupled with the effects of the Gulf Oil Spill, we have seen an increase in number of active listings, a decrease in the pending sales for July and August, and a drop in number of actual sales closed along with continued rock bottom prices! There is definitely something for everyone in today's market: Single Family Homes, Condos, Duplexes, New Construction Homes at rock bottom prices, Waterfront Property also at rock bottom prices, Commercial Properties, and Investment Properties priced between $5,500 and $2,800,000. It's a buyer's market! The market currently abounds with motivated sellers who are flexible, willing to pay closing costs for a buyer, and willing to negotiate on a number of items including the price, repairs, and upgrades to the property.
Pam has worked in real estate since 1978 and has the knowledge of the Pensacola area market you need to be successful in Pensacola real estate. She has trained our sales staff to communicate and follow-up on all levels of the real estate transaction to make sure your transaction is better than you expect it to be. Let Pamela Keen and Realty Masters of FL help you with your next Pensacola, Florida Real Estate investment! Call Pam Keen today at (850) 232-2200 (850) 232-2200 or email her at: Pam@PensacolaRealtyMasters.com