May 30, 2020 at 1:44pm |
Market Report - Hello, this is Jack Lara. I'm a Realtor in Pensacola, Florida. Some of you know who I am. I'm with Better Homes and Gardens Real Estate Main Street Properties,Pensacola, Florida. Just wanted to go over some stats, what has transpired during the month of April, just looking at single family homes that sold and closed. And that's detached houses, so remember this number. These numbers I'm about to share with you do not include condominiums, townhouses, or mobile houses, just single-family detached houses. So in Escambia County in April of 2020, there was 408 sales that closed. And compare that to 2019, there was 475. That was a 14% decrease during the middle of the pandemic. I think that is good news, not as big of a drop as some people were predicting. And looking at Santa Rosa County in April 2020, 282 closed sales compared to the previous April, 299, just a 6% drop in number of sales. So people are still selling their houses. And here's an interesting the number, the sales-price-to-list-price ratio. So what that means is what percentage of the list price are sellers getting? If you look at Santa Rosa County and looking at the average sales-price-to-list-price ratio, it's 99%. If you look at the median sale-price-to-list-price ratio, it's 99.9%. And the median sales price is 234,950. Last year, it was 228,200. So we have an increase. And if you look at the average sales price for Santa Rosa County that was 269 versus 258 last year. Using that 99.9%, if you have a house, you're selling it, and you have it listed for 200,000 at 99.9%, then you should expect to sell it for 199,000. You're gonna basically get list price, whatever you list it for. Of course, if you have it overpriced, it's not gonna sell. And then the same thing almost in Escambia County, the sales-price-to-list-price ratio is 98.9%. The median sales price in Escambia was $215,550, and compared to April 2019, it was 194,900. That's just a quick look at the numbers. If you're a seller, thinking about selling, you got a place that you either wanna downsize to or move up into a bigger home or sell and buy an RV and travel the U.S., give me a call, 850-554-9543.