Is Pensacola, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pensacola is a buyer's market

Buyer's
Market

Difference Since February 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

$412,000

$220/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$38,000(-8.4%)

Key Takeaway

Homes in Pensacola have sold for 8.4% less than they did a year ago.

Summary: The median home sold price in Pensacola was $412,000 in February 2024, down 8.4% from last year, and the median price per square foot was $220.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $315K$420K
+33.3%
2 $430K$390K
-9.3%
3 $411.2K$360K
-12.5%
4 $643K$480K
-25.3%
5+ $2.1M$1.2M
-39.9%

Summary: Pensacola housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 9.3%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 25.3%, and 5+ bedroom homes decreased by 39.9%.

Median Sold Price Compared To Nearby Cities

Gulf Breeze
+13.8%
Pensacola
-8.4%

Housing Supply in Pensacola, FL

How many homes are available in Pensacola, FL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
197216+9.6%

Summary: The Pensacola real estate market had 216 homes for sale in February 2024, a 9.6% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 911
+22.2%
2 5158
+13.7%
3 8391
+9.6%
4 3735
-5.4%
5+ 1721
+23.5%

Summary: The Pensacola housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 22.2%, 2 bedroom homes increased by 13.7%, 3 bedroom homes increased by 9.6%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes increased by 23.5%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2919-34.5%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pensacola, you may be able to get a good deal. 89.5% of homes here sold below asking price last month.

Summary: A total of 19 homes were sold or pending in Pensacola in February 2024, down by 34.5% month-over-month. Of the 19 sold homes, 89% were sold under asking, 11% were sold at asking, and 0% 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

Feb 2023Feb 2024CHANGE
64 Days57 Days-11.3%

Summary: Homes in Pensacola had an average of 57 days on market in Feb 2024, down by 11.3% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Pensacola are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 19 homes were sold in Pensacola; 26% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

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