Here’s a look at the Pace Real Estate Market Report for November 2018. According to the information from the Pensacola Association of REALTORS®️, the current real estate inventory numbers are still low for this area but we did see an increase in the number of new listings. Let’s take a closer look at the Pace market trends.
A Look At The Housing Stats
October ended with a total of 67 homes sold. We’re seeing a drop of 6.3 percent when we compare this month’s sales to the 63 recorded in October. Sales held a steady 16 percent from this same time last year, but sales are running 0.7 percent behind when we look at year over year stats. There have been 818 total sales this year compared to the 824 total sold by this time last year.
The average sale price of homes in Pace was $225,845 in October. That amount shows a decrease of 7.1 percent when we compare it to the $243,209 from September. In October 2017, the average sale price was $233,916, which is a decrease of 3.5 percent year over year. The median sale price for homes sold in October was $212,000. This amount is higher by 3.4 percent from last year’s $205,000.
What Does this Data Mean?
November began with 178 homes for sale without an offer. This number shows a decrease of 4.1 percent from the 171 we recorded in October. The number of active listings is down a shocking 40.3 percent from the 298 recorded this same month in 2017. We continue to see a decrease in the active listings available for Pace as we move through this year. In fact, October showed the lowest inventory number in years.
Currently, The Pace Real Estate Market has 2.7 months of inventory to sell. The real estate market is considered balanced with a 6 month supply.
What does this mean if you’re buying a house in Pace?
There were 88 new listings in the month of October. This number is up 20.5 percent from the 73 new listings in September and shows a 33.3 percent increase from the 66 new listings in October 2017.
The current inventory shortage even with the incline in new listings still creates a competitive market for home buyers.
There’s something you can do to increase your odds of getting to a new listing before the crowd. Sign up for free email updates that are set up according to the criteria that you find important when it comes to searching for a home.
These updates may just give you the edge needed to step in front of your competition and buy the home of your dreams.
What does this mean if you’re selling a house in Pace?
Home sellers in Pace are in the best position possible as we move closer to the end of the year. Sellers are receiving 96.1 percent of their asking price when it comes to home sales in this area. The average days on the market for homes sold in October was 79 days. This number is up 12.2 percent from the 90 days that were recorded this time last year.
The average selling price per square foot as we ended October was $107. This amount is up by 1.9 percent from the $105 recorded this same time in 2017 and shows a 2.7 percent decrease from the $110 from October. Want to give yourself the best chance of getting the highest return on your investment when it comes to the home selling process? Make sure that you do everything possible to set your asking price correctly from the start. Start by getting an idea of your home’s worth today by using our home valuation calculator.
You may want to see this article: 6 Steps to Selling a House
Pace Homes for Sale
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Here are the most recent home listings just added to the database in the average sale price range for Pace. All homes here are priced at $240,066 or less.