Original Post on Pensacola Real Estate News
Pensacola Market Data For Residential Properties
On Pensacola Beach And Perdido Key Florida
January - June 2008
The numbers in the table show the Pensacola real estate sales on the beaches for the first 6 months of 2008.
As of the writing of this report there are 11 Perdido Key Condo sales Pending and 6 Pensacola Beach Condo sales Pending. The total number of homes and condos for sale on the beach has not increased since January, so we are holding steady on inventory in the mid 700s.
The table above just gives a snapshot of the market at this time, which does not really tell a story. The table below is much more interesting.
Pensacola Market Data For Beach Homes and Condos
On Pensacola Beach And Perdido Key
For the First 6 Months Of Each Year
Be aware that the numbers showin in the table are only for the 1st 6 months of each of the years listed. This was the only way to make a good comparison to 2008. At the end of 2008 I can give you a full years worth of data on the beach real estate report.
What we can see in this table is the way the real estate markets on the beaches have moved since 2000. Here are some observations:
If you purchased beach real estate from 2000 to 2004, you are doing well as far as the value of your investment
2002-2004 were the hottest years as far as beach real estate sales volume. During this period, the beach homes and condos were much more affordable and we saw sales from 180 to almost 300 units.
2005-2007 saw decreasing sales and increasing days on market as prices rose sharply.
Now in 2008 we see sales up just a little above the 2007 levels and prices holding steady. Many Pensacola real estate agents believe that prices on the beaches have pretty much bottomed out. I will provide future reports on the beaches and we'll see if that is indeed true.
- The table shows real estate market data for Pensacola condos and residential homes on the beaches.
- Vacant land or lots are not included.
- The numbers above are created using data from the Pensacola MLS and are deemed reliable but not guaranteed
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