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Sep
07
Posted by robin sherman
I had the opportunity to work with some GREAT “baby boomer” clients earlier this year; Jim and Sharon. They were looking for a Pensacola Beach condo they could use as a rental now, and eventually move into a few years down the road when they actually retire. Jim and Sharon had looked at properties on Pensacola Beach back in 2005 and 2006, but with the soaring demand for beach condos and the rapidly escalating prices they just felt priced out of the market.
Amazing how just a few years have changed their perspective! Like other baby boomers around the country, Jim and Sharon were able to take advantage of the slumping real estate market and actually purchase more condo than they had originally hoped and for less money.
And it’s no wonder when you look at what has happened to property prices on Pensacola Beach. Statistics from the Pensacola Association of Realtors show that resales in one resort condominium project on the beach, Portofino, went from an average price of $924,239 in 2005, to $608,464 in 2008, a decline of more than 36%.
A recent online survey of 150 Coldwell Banker Brokers across the country found that 66% said home purchases among baby boomers was on the rise. Jim and Sharon are representative of those boomers that aren’t afraid to make a move during what has been called the worst housing market since the Great Depression. Like smart investors everywhere, they chose to purchase at the bottom of the market instead of at the top!
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May
18
Posted by robin sherman
| Sales in Greater Pensacola Bay Area |
5/15/06 to 5/15/07
|
5/15/07 to 5/15/08
|
| Total # of Sales |
6,572
|
5,125
|
| Average Sold Price |
$203,246
|
$206,014
|
| Median Sold Price |
$164,900
|
$160,000
|
| Average Price Per Square Foot |
$128
|
$112
|
| Sell Price to List Price |
96.04%
|
95.07%
|
| Average # of Days on the Market |
120
|
140
|
Pensacola Bay Area Market Report – Just what’s going on with property sales in Pensacola? Fewer homes are selling and homes are moving a bit slower than the same period a year ago, but average prices have actually crept up a bit. The table shows sales of homes, townhomes, condominiums and manufactured homes in the Greater Pensacola Bay Area for the past year. This encompasses not only Pensacola, but outlying areas including Pace, Milton, Gulf Breeze, Pensacola Beach and Perdido Key. Statistics come from the Pensacola Association of Realtors Multiple Listing Service. I will be breaking this down by individual communities in upcoming posts. In the meantime, if you would like to read similar past posts, click on the links below.
Pensacola Beach Market Update, Prices Up, What’s the Real Story
Hit Bottom Yet? You Bet!
