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.
