June 2022 NW Florida Housing Market Update

Real Estate Agent with Gulf Coast Home Experts BK3213844

June 2022

Housing Market Update

NW Florida / Pensacola MLS Region

The monthly housing market update for June 2022 is now available for the NW Florida / Pensacola MLS Region. 

  • Both Average and Median sale prices increased from previous month.
  • Median sales price was $340,000 - up from from $317,500 in May 2022 and up from $288,000 one year ago.
  • Monthly average sales prices were $412,499 at month end- up from $378,916 in May 2022 (an 8.86% month to month increase) and up from $344,062 one year ago (a 19.89% year to year increase).

Inventory has a steep increase

  • Drastic increase in inventory this month from previous month
  • 1620 homes listed at June 2022 month end
  • Up from 864 at May 2022 month end
  • Up from 928 one year ago in June 2021
  • With 1160 housing sales in June 2022, this equals slightly more than a one month supply of homes.

The steep increase in inventory means that we *could* soon see a stabilization and *possible* decrease in home prices if inventory continues to grow.  With another expected increase in mortgage rates expected when the Fed meets again at the end of July, current home owners should prepare for the possible end to the Seller's Market.  Buyers should expect more Sellers to consider offering concessions for repairs and closing cost assistance.  Both Buyers and Sellers should be aware that appraisers will most likely be more stringent and will be taking into account changing market conditions when they prepare valuations. 

The average days on market decreased from 18 days in May 2022 to 17 days in June 2022.    This is down from 20 days on market in June 2021.

If you would like to receive an estimated property valuation with a Seller's Net Sheet to see what equity you might cash out for the sale of your home in the current market, please email me at BrokerTrish@gmail.com or call me at 850-449-0908.  I would be happy to meet with you to discuss current housing market conditions and how to get the best price and terms when I list your home for sale.  

You can also click the link below for a quick market snapshot (the link does not provide a full property valuation).   I am looking for homes to sell IN ANY CONDITION and I can also sell homes and multi-family properties that have current tenants in place.  

We have Buyers for ALL types of property, and sale prices are at all time highs for Sellers in the current market.  If you have a property or know someone who is thinking of selling a property, please call me at 850-449-0908 today!
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Trish Sarfert, Broker Associate, GRI, MRP

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Comments (1)

Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Thanks for sharing your market update with us. Buyers & sellers in your area would benefit from your services. Have a great day!

Jul 26, 2022 12:38 PM