June 07, 2021 at 10:28am | Jack Lara
Looking at the math of New Construction sales for Escambia County and Santa Rosa Florida. Comparison of the 1st quarter of 2020 to 2021.  Pensacola area properties in northwest Florida.

1st QUARTER 2020 Escambia
Homes Sold: 295
Average Sale Price: $265,538
Median Sale Price: $240,900

1st QUARTER 2021 Escambia
Homes Sold: 366
Average Sale Price: $265,496
Median Sale Price: $251,500

2nd QUARTER 2021 Escambia as of June 7, 2021
Homes Sold: 97 (data lag)
Average Sale Price: $298,459
Median Sale Price: $284,900

You may be saying "I thought prices were skyrocketing". They have. Remember many of the closed sales for the 1st quarter of 2021 were from contracts written in the summer to early fall of 2020. So, let’s look at what has been reported thus far for the 2nd quarter of 2021 for Escambia County Florida.

1st Quarter 2020 Santa Rosa
Homes Sold: 459
Average Sale Price: $268,732
Median Sale Price: $238,900

1st Quarter 2021 Santa Rosa
Homes Sold: 477
Average Sale Price: $304,881
Median Sale Price: $279,700

2nd Quarter 2021 Santa Rosa as of June 7, 2021
Homes Sold: 187
Average Sale Price: $295,945
Median Sale Price: $277,200

* Data obtained from Metro Market Trends

Many builders are not doing presales. This is where they lock themselves into a contract price 6 to 8 months prior to completing the construction of the new home. Builders are now putting in escalation clauses into the contract or are building spec homes and the house is at least 50% completed then putting the house under contract with a buyer. This is allowing builders to absorb the cost of building more accurately to match their required profit margin per house. 🏡

Don't you wish you owned thousands of acres of timber or better yet to also own a lumber mill?🌲

Jack Lara, Broker-Associate
(850) 616-6377
Jack@PensacolaAreaProperties.org
PensacolaAreaProperties.com
1313 Creighton Road
Pensacola, FL 32504


Joaquin Alberto Lara, LLC Better Homes and Gardens Real Estate, Main Street Properties
Share

check_circle

You message has been sent!

Send us a Message


View our Privacy Policy