Is Pensacola, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Pensacola was a Seller's Market.
Key Takeaway
Pensacola is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Pensacola, FL
How much do homes in Pensacola, FL cost?
Median Sold Price
$425,750
$244/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Pensacola have sold for 27.1% more than they did a year ago.
Summary: The median home sold price in Pensacola was $425,750 in May 2024, up 27.1% from last year, and the median price per square foot was $244.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $395K | $352K | -10.9% |
| 2 Bedrooms | $259K | $409.5K | +58.1% |
| 3 Bedrooms | $286K | $380K | +32.9% |
| 4 Bedrooms | $457K | $472.5K | +3.4% |
| 5+ Bedrooms | $2.1M | $837.5K | -60.6% |
Summary: Pensacola housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.9%, 2 bedroom homes increased by 58.1%, 3 bedroom homes increased by 32.9%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes decreased by 60.6%.
Median Sold Price Compared To Nearby Cities
| Pensacola | $335K | $425.7K | +27.1% |
| Gulf Breeze | $400K | $410K | +2.5% |
| Avalon-Mulat | $294.9K | $274.9K | -6.8% |
Housing Supply in Pensacola, FL
How many homes are available in Pensacola, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 242 | 253 | +4.5% |
Summary: The Pensacola real estate market had 253 homes for sale in May 2024, a 4.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 16 | +14.3% |
| 2 Bedrooms | 56 | 61 | +8.9% |
| 3 Bedrooms | 99 | 108 | +9.1% |
| 4 Bedrooms | 47 | 45 | -4.3% |
| 5+ Bedrooms | 26 | 23 | -11.5% |
Summary: The Pensacola housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes decreased by 11.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 33 | 34 | +3.0% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pensacola, you may be able to get a good deal. 74.2% of homes here sold below asking price last month.
Summary: A total of 34 homes were sold or pending in Pensacola in May 2024, up by 3.0% month-over-month. Of the 31 sold homes, 74% were sold under asking, 19% were sold at asking, and 6% were sold over asking.
Days on Market for Pensacola, FL
How long does it take to sell a home in Pensacola, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 49 Days | 100 Days | +102.0% |
Summary: Homes in Pensacola had an average of 100 days on market in May 2024, up by 102% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Pensacola are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 34 homes were sold in Pensacola; 9% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
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