January Real Estate Market Stats in the Pensacola Area

HIGHLIGHTS

• January sales are down from last month and down from last year with 470 units sold. Last month 611 units sold. Number of sales Y-O-Y was down 12.8%.
• Cash buyers represent 31.5% of all residential sales in our area. This is up from 24% last Month.
  
• January average "day on market" is up from December at 55 days to: 57 Days.
  
• Average sold price is $397,436, this is up from the prior month and up 17.2% since January 2023 Y-O-Y, $339,224.
  
• January inventory is up month over month to: 2529 units, upfrom January 2023, with 2505 units. Y-O-Y increase in inventory of 27.6%
• Months inventory is 5.6 months, Up from December at 4.1 months, and up from January 2023 with 3.7 months inventory.
• Average List to sold price difference in January was -3.5% a change from -3.1 % in December.
• The inventory of homes remains low with 5.6 months inventory, this level is considered a buyers market favoring buyer's over seller's. When Months Inventory is 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.