The Pensacola Association of Realtors recently released their January 2023 Residential Market Highlights, which provide essential insights into the state of the local real estate market. These statistics are helpful for buyers, sellers, and investors interested in understanding the current state of the market and making informed decisions about their real estate transactions.
According to the report, total sales in January 2023 were down by 23% compared to December 2022 and 32% compared to January 2022. This is not an unusual trend, as the real estate market often experiences a seasonal slowdown during winter. However, it is still essential to monitor these trends and how they may impact your real estate decisions.
One key metric to consider is the average days on the market for all property types combined, which was 50 days in January 2023. This is a relatively low number, which suggests that homes are still selling relatively quickly. However, it is essential to note that individual properties may experience longer or shorter periods on the market depending on their price, location, and other factors.
Another vital statistic is the number of houses sold in January 2023, 571. While this number is down from December 2022 and January 2022, a significant number of homes are sold in a single month. This suggests that there is still a healthy activity level in the Pensacola real estate market.
The average home price sold in January 2023 was $338,858, a relatively high number. This suggests that there is still demand for higher-priced homes in Pensacola, and buyers may be willing to pay a premium for the right property.
Finally, there are currently 1939 active or 2637 active and contingent homes on the market, which indicates that there is still a significant amount of inventory available to buyers. This could be an opportunity for those looking to purchase a home, as they may have more options to choose from and negotiate on price.
If you are in the market to list, buy, or invest in Pensacola real estate, working with a knowledgeable and experienced real estate professional is essential. At Hometown Properties of the Gulf Coast, we are experienced agents who can help you navigate the current market conditions and make informed decisions about your real estate transactions. Contact us today to learn more about how we can help you achieve your real estate.
