Pensacola Real Estate Market Update - Week Ending February 2, 2008

Weekly Update For Residential Listings
In Escambia and Santa Rosa Counties

I am running a little late this week on getting the previous to the previous week's data up. But many agents don't put the sold listings in the MLS until several days (or even weeks) after a listing has sold, so waiting a little longer actually makes the data more accurate.

The data in the table show Pensacola real estate sales very slow to start off the year, but we saw a nice spike last week, up to 100 sales in the week. While this is a good sign, I did also note that 13 of the 100 homes sold were foreclosures. Total active listings have fallen a little, probably because of the increase in sold homes and expired listings. We are in a strong buyer's market, but the buyers do not seem ready to come out and take advantage of the great deals available. Not yet anyway.

- The table shows the weekly market data for Pensacola residential property.
- These numbers include only residential homes and condominiums in Escambia and Santa Rosa Counties that are listed in the Pensacola MLS.
- They do not include vacant land or lots, mobile homes or manufactured homes or Pensacola FSBOs.
- The numbers above are created using data from the Pensacola MLS and are deemed reliable but not guaranteed

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