Here’s a look at the Pace Real Estate Market Report for January 2019. According to information from the Pensacola Association of REALTORS®, the current real estate inventory numbers have increase and home sales have decreased. Let’s take a closer look at the Pace market trends.
A Look at Housing Stats
December ended with a total of 45 homes sold. We’re seeing a decrease of 33.8 percent when we compare this month’s sales to the 68 recorded in November. Sales are down 21.6 percent from this same time last year, and sales are still 3.5 percent behind when we look at year over year stats. There have been 45 total sales this year compared to the 37 total sold by this time last year.
The average sale price of homes in Pace was $223,582 in December. That amount shows a increase of 3.3 percent when we compare it to the $221,507 from November. In December 2018, the average sale price was $216,360 which is an increase of 3.3 percent year over year. The median sale price for homes sold in December was $218,000. This amount is higher by 3.8 percent from last year’s $210,000.
What Does this Data Mean?
December began with 154 homes for sale without an offer. This number shows a decrease of 8.3 percent from the 183 we recorded in November. The number of active listings is down a shocking 44.6 percent from the 278 recorded this same month in 2018. We continue to see a decrease in the active listings available for Pace as we move to the end of this year. In fact, November showed the lowest inventory number in years.
Currently, The Pace Real Estate Market has 3.4 months of inventory to sell. It has continued to increase for the last months. The current seller’s market is weakening. 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 72 new listings in the month of December. This number is up 41.2 percent from the 51 new listings in November and shows a 33.8 percent decrease from the 75 new listings in December 2017. The current inventory shortage combined with the decline in new listings is creating 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 buy the home of your dreams.
What does this mean if you’re selling a house in Pace?
Home sellers in Pace are still in the best position as we move towards the end of the year. Sellers are receiving 95.9 percent of their asking price when it comes to home sales in this area. The average days on the market for homes sold in December was 54 days. This number is up 18.2 percent from the 66 days last months and down 29.9 percent from 77 days that were recorded this time last year.
The average selling price per square foot as we ended December was $108. This amount is up by 4.9 percent from the $103 recorded this same time in 2017 and shows a 0.9 percent decrease from the $107 from November. 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.
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.
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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 $223,582 or less