Here’s a look at the Pace Real Estate Market Report for September 2018. According to information from the Pensacola Association of REALTORS®, the current available homes for sale are still low for this area and the number of new listings have continued to decrease. Let’s take a closer look at the Pace market trends.
A Look at Housing Stats
August ended with a total of 78 single family homes sold. This number shows a decrease from the 88 in July. The median price range of houses that sold in Pace during the month of August was $201,750. This amount shows a decrease of 3 percent from August 2017, and a decrease of 7 percent when we compare the median price range of $216,915 for last month. Sales were down 17 percent from 94 in August of 2017. Sales were down in August and at their lowest level when compared to August of 2017 and 2016. There have been 688 total sales this year and running 6 percent ahead of the 649 total sold at this same time last year.
The average sale price of homes in Pace was $235,701 in August. That amount is down 0.5 percent when we compare it to the $236,952 from July. In August 2017, the average sale price was $222,485, which is an increase of 5.9 percent year over year. The median sale price for homes sold in August was $201,750. This amount decreased 6 percent from last year’s $214,638.
What Does this Data Mean?
September began with 163 homes for sale in Pace without an offer. This number shows a decrease of 6.3 percent from the 174 we recorded in August. The number of active listings is down 43.6 percent from the 289 recorded this same month in 2017. The Inventory on the market was at it’s lowest level when comparing to August of 2017 and 2016.
Currently, the Pace real estate market still is at 2.1 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?
Pace had 76 new listings in the month of August. This number shows an increase of 5.6 percent from 72 new listings in July and shows a decrease of 17.4 percent from the 92 new listing in August 2017. With the current inventory shortage, home buyers must be prepared when their dream home come on the market. The first thing today’s buyer needs to do is to contact a lender and get pre approved for the mortgage of their new home. There’s also 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 continues to be in the best position possible as we move toward the Thanksgiving holidays. When it comes to home sales in the area,
This number is down 42.9 percent from the 89 days that were recorded this time last year.
The average selling price per square foot as we ended August was $113. This amount is up by 11.9 percent from the $101 recorded this same time in 2017 and shows a 2.7 percent increase from the $110 from July. 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 $235,701 or less.