Pensacola residential real estate unit sales numbers are in for June, 2008. This data comes from the Pensacola Association of Realtors. Residential unit sales data includes homes and condos but does not include land, commercial property or lots.
June 2008 sales turned out to be rather lack luster. This is presumably the result of tighter credit and weak economic news.
The number of residential real estate listings is continuing to decline. This is good news and is indicative of Pensacola's overall improving market condition. Many markets across the county are still seeing residential inventories increasing.
Median home values are down slightly and this again is very positive news. Many other real estate markets are seeing dramatic declines in median home values, we are not.
That being said individual home buyers are continuing to buy here for traditional reasons:
- Moving in to the area
- Moving out of the area
- Retirement property
Investors are buying, for the most part, for the following reasons:
- Good values that can, with little improvement, be re-sold at a profit
- Properties that can cash-flow in the current rental market.
- Investors with a longer time horizon, that see value in today's market
North West Florida continues to be a very desirable area for families, investors and retirees.