Pensacola Real Estate Market Update


We are definitely experiencing a softening in our market.

In the month of September

-We saw the average price in our market come down (from $377k to $373K)

-Average days on market go up (from 20 to 28)

-Sellers started negotiating again.

Interest rates are over 7% but there are lenders out there allowing buyers to refinance FOR FREE up to 2 years after they close. For buyers, if you were waiting for prices to drop, this may be your time to make a move. The interest rate isn't great, but sellers are now offering closing cost assistance, and other incentives. Sellers still have a ton of equity in their homes, but the days of multiple offers is gone. We are getting a solid offer but it's taking a little longer to get it.

Here is a video giving a rundown of the latest on the market.