Is Pensacola, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Pensacola was a Seller's Market.
Key Takeaway
Pensacola is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Pensacola, FL
How much do homes in Pensacola, FL cost?
Median Sold Price
$422,000
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Pensacola has remained the same since last year.
Summary: The median home sold price in Pensacola was $422,000 in March 2024, down 0.4% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $315K | $420K | +33.3% |
| 2 Bedrooms | $337K | $399K | +18.4% |
| 3 Bedrooms | $385K | $360K | -6.5% |
| 4 Bedrooms | $586.5K | $514K | -12.4% |
| 5+ Bedrooms | $2.3M | $1.5M | -32.6% |
Summary: Pensacola housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 18.4%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes decreased by 12.4%, and 5+ bedroom homes decreased by 32.6%.
Median Sold Price Compared To Nearby Cities
| Gulf Breeze | $360K | $410K | +13.9% |
| Pensacola | $423.7K | $422K | -0.4% |
| Avalon-Mulat | $299.9K | $274.9K | -8.3% |
Housing Supply in Pensacola, FL
How many homes are available in Pensacola, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 211 | 244 | +15.6% |
Summary: The Pensacola real estate market had 244 homes for sale in March 2024, a 15.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 13 | +18.2% |
| 2 Bedrooms | 58 | 62 | +6.9% |
| 3 Bedrooms | 84 | 101 | +20.2% |
| 4 Bedrooms | 38 | 46 | +21.1% |
| 5+ Bedrooms | 20 | 22 | +10.0% |
Summary: The Pensacola housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 20.2%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 31 | +40.9% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Pensacola, you may be able to get a good deal. 89.7% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in Pensacola in March 2024, up by 40.9% month-over-month. Of the 29 sold homes, 90% were sold under asking, 7% were sold at asking, and 3% were sold over asking.
Days on Market for Pensacola, FL
How long does it take to sell a home in Pensacola, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 46 Days | 64 Days | +38.2% |
Summary: Homes in Pensacola had an average of 64 days on market in Mar 2024, up by 38.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pensacola are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 31 homes were sold in Pensacola; 23% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Listing information Copyright © 2024 Baldwin County Association of REALTORS®, Inc. All rights reserved. MLS IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.
Listings courtesy of Stellar MLS as distributed by MLS GRID.
Copyright 2024 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange program of Central Panhandle Association of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Properties subject to prior sale, change, withdrawal or rental. Copyright© 2024 Central Panhandle Association of REALTORS.© All Rights Reserved.
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. Copyright 2024 BeachesMLS, Inc.