Pace Real Estate Market Report - January 2020
Pace Real Estate Market Report for January 2020
Here’s a look at the Pace Real Estate Market Report for January 2020. According to 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 Housing Stats
December ended with a total of 70 homes sold. We’re seeing an increase of 18.64 percent when we compare this month’s sales to the 59 recorded in November. Sales are down 1.4 percent from this same time last year, and sales are down 3.9 percent when we look at year over year stats. There have been 921 total sales this year compared to the 959 total sold by this time last year.
The average sale price of homes in Pace was $254,104 in December. That amount shows an increase of 4.55 percent when we compare it to the $243,044 from November. In December 2018, the average sale price was $226,170, which is an increase of 12.3 percent year over year. The median sale price for homes sold in December was $230,782. This amount is higher by 9.9 percent from last year’s $210,000.
What Does this Data Mean?
December began with 28 homes for sale without an offer. This number shows a increase of 5.2 percent from the 27 we recorded in November. We continue to see a decrease in the active listings available for Pace as we move through this year. In fact, December showed the lowest inventory number in years.
Currently, The Pace Real Estate Market has .5 months of inventory to sell. The real estate market is considered a sellers market.
What does this mean if you’re buying a house in Pace?
The current inventory shortage combined with the decline in new listings is creating a competitive market for homebuyers. 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 towards beginning of the New Year. Sellers are receiving 98.5 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 49 days. This number is down 14.4 percent from the 57 days that were recorded this time last year.
The average selling price per square foot as we ended December was $115. This amount is up by 7.48 percent from the $107 recorded this same time in 2018 and shows a 0.86 percent decrease from the $116 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. Start by getting an idea of your home’s worth today by using our home valuation calculator.
Pace Homes for Sale
Wondering what your home might be worth? Find out instantly with our 15-second home value calculator.
See Additional Report on the Pace Real Estate Market
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 $254,104 or less.