Here’s a look at the Pace Real Estate Market Report for October 2018. According to the information from the Pensacola Association of REALTORS®️, the current real estate inventory numbers are still low for this area and the number of new listings has also decreased. Let’s take a closer look at the Pace market trends.
A Look At The Housing Stats
September ended with a total of 63 homes sold. We’re seeing a drop of 19.2 percent when we compare this month’s sales to the 78 recorded in August. Sales are down 41.7 percent from this same time last year, but sales are still 0.8 percent behind when we look at year over year stats. There have been 751 total sales this year compared to 757 total sold by this time last year.
The average sale price of homes in Pace was $243,209 in September. That amount show an increase of 3.2 percent when we compare it to the $235,701 from August. In September 2017, the average sale price was $230,994, which is an increase of 9.9 percent year over year. The median sale price for homes sold in August was $201,750. This amount is higher by 7.9 percent from last year’s $215,297.
What Does This Data Mean?
October began with 178 homes for sale without an offer. This number shows an increase of 4.1 percent from the 171 we recorded in September. The number of active listings is down a shocking 40.3 percent from the 298 recorded this same month of 2017. We have seen a slight increase in the active listings available for Pace as we move through this year. But September still showed the lowest inventory numbers in years.
Currently, the Pace Real Estate Market has only 2.7 months of inventory to sell. This is an 0.6 increase from last month.
With the 2.7 months of inventory, you’ll find today’s real estate market to be a SELLER’S market. 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 73 new listings in the month of September. This number is down 3.9 percent from the 76 new listings in August and shows a 14.1 percent increase from the 64 new listings in September 2017.
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?
Homes sellers in Pace are in the best position possible as we move towards the last few months of the year. Sellers are receiving 95.8 percent of their asking price when it comes to home sales in this area. This percentage is down from 98.1 percent last month. The average days on the market for homes sold in September was 69 days. This number is up 43.8 percent for 48 days on the market last month and down 19.8 percent from the 86 days that were recorded this time last year.
The average selling price per square foot as we ended September was $1.10. This amount is up by 7.8 percent from the $102 recorded this same time in 2017 and shows a 2.7 percent decrease from the $113 from August. 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.
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 $243,209 or less.