Pensacola Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

June 12, 2024

Pensacola List vs. Sold Real Estate Prices for May

Chris Reid Realtor

Pensacola List vs. Sold Real Estate Prices for May

Posted in Market Updates
June 12, 2024

Pensacola Area Real Estate Market Stats are in for May

Pensacola Beach Sand Fence

The monthly May PAR stats are now available:

HIGHLIGHTS

  • May sales are up from last month but down from last year with 881 units sold. Last month 822 units sold. Number of sales Y-O-Y was Down 5.8%.
  • Cash buyers represent 24% of all residential sales in our area. This is down from 25% last Month.
  • May average "day on market" is Down from April at 63 days to: 53 Days.
  • Average sold price is $394,787, this is Down from the prior month and from up 3.3% May 2023 Y-O-Y, $382,016.
  • May inventory is up month over month to: 3205 units, up significantly from May 2023, with 176 units. Y-O-Y increase in inventory of 81%!
  • Months inventory is 3.6 months, down from April 3.7 months, but up from May 2023 with 1.9 months inventory.
  • Average List to sold price difference in May was -2.8% unchanged from -2.8 % in April.
  • The inventory of homes remains low with 3.6 months inventory, this level is considered a weak seller's market. When Months Inventory is generally less than 4.0 months it is considered a seller’s market.6.0 months or more is a buyer's market. Between 4 and 6 months inventory is a neutral market.
Posted in Market Updates
May 15, 2024

Pensacola List vs. Sold Real Estate Prices for April

Pensacola List vs. Sold Prices for April

Posted in Market Updates
May 13, 2024

Five Star Review on Realtor.com

Accolades

Posted in Reviews
May 13, 2024

Pensacola Area Real Estate Market Stats

Pensacola Beach Sand Fence

April Pensacola Association of Realtor Market stats now available:

HIGHLIGHTS

  • April sales are up from last month and up from last year with 814 units sold. Last month 731 units sold. Number of sales Y-O-Y was Up 6.1%. This is the first up month since May 2022!
  • Cash buyers represent 25% of all residential sales in our area. This is up from 22% last Month.
  • April average "day on market" is up from March at 62 days to: 63 Days.
  • Average sold price is $406,229, this is up from the prior month and from up 2.4% April 2023 Y-O-Y, $376,444.
  • April inventory is up month over month to: 3014 units, up significantly from April 2023, with 1751 units. Y-O-Y increase in inventory of 72%!
  • Months inventory is 3.7 months, down from March 3.8 months, but up from April 2023 with 2.3 months inventory.
  • Average List to sold price difference in April was -2.8% up from -2.5 % in March.
  • The inventory of homes remains low with 3.7 months inventory, this level is considered a neutral market neither favoring buyers or sellers. When Months Inventory is generally less than 4.0 months it is considered a seller’s market.6.0 months or more is a buyer's market. Between 4 and 6 months inventory is a neutral market.
Posted in Market Updates
May 3, 2024

Follow Chris Reid on Instagram

Follow Chris Reid Real Estate on Instagram

Posted in Greetings
May 1, 2024

Current Mortgage Rates

30 YR MTG

7.01% (7.13% APR)

5/1 ARM

6.75% (6.87% APR)

15 YR MTG

6.45% (6.57% APR)

30 YR FHA

6.45% (6.57% APR)

30 YR Jumbo

7.32% (7.44% APR)

30 YR VA

6.46% (6.58% APR)

Provided by:

Ben Kyle
NEO Home Loans
ben.kyle@neohomeloans.com
415-341-3393
NMLS#: 180036

April 25, 2024

Celebrating 17 Years as a Realtor

Great Catch!

This May will mark my 17th year anniversary of being a Realtor in Pensacola. I am finding this year one to reflect on. I had my own “bad real estate or bad Realtor” experiences before I got into real estate. When I started my adventure as a Realtor, I set out to be the professional real estate agent I thought one should be. I knew what I did not want to be and wanted to reinvent what being a real estate agent IS.

Real estate seemed like the perfect fit for me. It took many of my skills from various experiences and packaged them all into one. From my background in customer service, management, communications, and marketing, to architectural design and construction, it was if pieces of a puzzle came together. Although I work with all kinds of properties in the greater Pensacola area, I specialized in a niche that I felt passionately about – historic and waterfront properties. I started my real estate career during the Great Recession and housing crisis. Nothing came easily and I saw agents dropping like flies. I learned new skills, worked hard, and focused on offering good honest unparalleled service to my clients. I treated people how I wanted to be treated and my clients and I found great success. As time passed, I navigated through the Dodd-Frank Act which reformed the lending industry and affected how we conducted business, the BP Oil Spill that threatened our precious natural treasures, hurricanes and tropical storms and the permitting and insurance issues that followed. Then there were Covid lockdowns where thankfully real estate services were declared an essential service. As in life, the real estate market and its intricacies are constantly changing. That is one of the things I like about it, it is never boring. Home values and market condition, lender financing and home owner’s insurance options, are always in flux. No two days or transactions are the same, just like no two people or homes. The longer I do this, the more this rings true.

The latest shift in the housing market is the NAR Settlement. I happen to think a lot of good will come out of this latest change, as it will avail more transparency to industry practices for the consumer. If you would like to read more about that you can give me a call or visit my blog for updates: https://www.easthillpensacolahomes.com/blog/

Thank you for trusting me with your properties. Your accolades, testimonials, recommendations, referrals and repeat business have meant the world to me. You have added to these 17 years of experience and helped me build a reputation in the industry for which I am proud and grateful.

Cheers! Chris Reid, Realtor

 

Posted in Greetings
April 22, 2024

NAR Settlement Facts and Fiction

NAR Settlement Clarified

April 22, 2024

Realtor East Hill Pensacola

Realtor East Hill Pensacola

Posted in Greetings