Greater Pensacola Real Estate HIGHLIGHTS

  • May sales are up from last month but down slightly from last year with 863 units sold. Last month 787 units sold. Number of sales Y-O-Y was down 3.1%.

  • Cash buyers represent 22% of all residential sales in our area, down from last month 25%.

  • May average "days on market" is up slightly from April with 80 days to: 81 Days.

  • Average sold price is $388,176, this is up from the prior month and down 1.7% from May 2024 Y-O-Y, $394,787.

  • May inventory is up month over month to: 3564 units, and up from May 2024, with 3205 units. Y-O-Y increase in inventory of 11%

  • Months of inventory is 4.1 months, down from April 4.5 months, and up from May 2024 with 3.5 months inventory.

  • Average List to sold price difference in May was -2.9% up from -2,7% in April.

  • The inventory of homes has 4.1 months inventory, this level is considered a "Neutral Market". Generally 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.

It is important to note that earlier this year in the Pensacola area we touched into a weak Buyer's market and have since trended into the neutral zone weighing closer to a Seller's market. For those Buyers that are waiting for interest rates to change, there is really no sign of that happening anytime soon. With sales now outpacing new listings, you may find waiting does more harm than good. All good things to consider!