December 03, 2020 at 9:31am | Jack Lara
Market Report, Cash Buyers, a Dog Named Freddie

My client, Vicki Hutto and I are holding a fundraiser for the Hotel for Dogs & Cats Adoption Center this Saturday, December 5th. We are holding a garage sale at 6070 Hilltop Road (that is between Creighton Rd and Langley Ave).  All the money raised from sales will be donated to the hotel.  We will be selling all new (People) items such as clothing, boots, purses, jewelry, and we will be gift wrapping your purchases if you choose to.   The garage sale starts at 8:00 A.M. and will run to the afternoon.  Help support your neighbors in Scenic Heights in Pensacola Florida.

 Say hello to Freddie pictured below.  

There are only 768 houses for sale as of December 2, 2020 (single family detached houses). Extremely low inventory while we have historically low interest rates. This is the first time in my 21 years as a Realtor that I have seen less than 800 homes for sale. Of course, I have never seen less than 1,000 homes for sale and this number includes Escambia and Santa Rosa County.

A few things I see that are drastically different from the mid-2000's real estate crash are very strict lending regulations, very little speculation, low interest rates and a high volume of cash buyers (and cash being held).

Speaking of cash. In the last 6 months there were 4,827 closed transactions between the 2 counties. There were 1,049 cash transactions, that is a whopping 21.7% of the market.

A couple of home builder sale reps, one from Breland Homes and the other from Truland Homes both said that they have helped several out of state home buyers to build a home without stepping foot in the Pensacola area until closing. The Covid-19 Virus and the work from home demographic shift has allowed people to move out of their current geographic location.

Here are the market reports for Escambia County and Santa Rosa County. This is a look at single family detached houses only. A look at sales and inventory over the past six months.

And remember to click on my web site down below if you want to check out the market. You can search for land, townhouses, condos, and single family homes.

Jack Lara
Better Homes & Gardens Real Estate
Main Street Properties
(850) 616-6377
1313 Creighton Rd Pensacola FL 32504

Joaquin Alberto Lara LLC


You message has been sent!

Send us a Message

View our Privacy Policy