Exploring the Pensacola Real Estate Market – Market Indicators are in your Favor!

Where else can you find white sandy beaches that offers a perfect balance between tourism boosting the economy and the ability to access secluded beaches?  Pensacola also offers great fishing, friendly folks, a small, quaint and lively downtown, proudly recognized as being the homeport of the Navy’s Blue Angels.  Let’s not forget our wonderful restaurants dishing out the best of Florida seafood, served up with a southern flair.  Yes, we really do live in Paradise!

Quality of life – picture perfect.  How about the Real Estate market?  Across the board the Pensacola Real Estate Market is in an upswing.   Housing market statistics, going all the way back to 2011, indicate that 2016 numbers show more monthly home sales than any other year during that time frame.  Additionally, average days of homes on the market declined from 110 to 91 days.  The cost of homes on the market is also gaining in value, in November 2015 the average home sold for $179,053 in the Pensacola Real Estate market in comparison to November 2016 in which the average home sold for $199,511.

The Pensacola unemployment rate is currently 4.3%, below the national average of 4.6%.  Better yet, the cost of living index for Pensacola is 86.80 based on a U.S. Average of 100.  The Pensacola Cost of Living Indices (Groceries, Health, Housing, Utilities, Transportation and Miscellaneous) are all below national average with the one exception of Utilities, which is rated at 101 versus the national average of 100.  The lowest Pensacola Index, Housing Cost of Living index, rates Pensacola at 66 to the U.S. 100 index.  That certainly plays into our “Quality of Life” favor!

As we ring in the New Year – 2017 is showing signs for another good year for the Pensacola housing market.  Lower interest rates, increased home values, and strong economic factors provide great incentive for potential home buyers and sellers.

Article Written by: Shelley Anderson

Realtor with Sunstate Realty LLC