The monthly March PAR stats now available for our Pensacola real estate market:
HIGHLIGHTS
- March sales are up from last month but down from last year with 731 units sold. Last month 595 units sold. Number of sales Y-O-Y was down 18.4%.
- Cash buyers represent 22.2% of all residential sales in our area. This is down from 25.2% last Month.
- March average "day on market" is up February at 62 days to: 66 Days.
- Average sold price is $379,142, this is up from the prior month and up 2.4% March 2023 Y-O-Y, $370,274.
- March inventory is up month over month to: 2770 units, up significantly from March 2023, with 1766 units. Y-O-Y increase in inventory of 56.9%!
- Months inventory is 3.8 months, down from February 4.5 months, and up from March 2023 with 2.0 months inventory.
- Average List to sold price difference in February was -2.5% no change from -2.5 % in February.
- The inventory of homes remains low with 3.8 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.
