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.
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
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
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
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.