How hot is the real estate market near Pensacola? Home prices rise to $250K

The median product sales rate for a solitary-relatives property in Escambia County in the course of February was $250,000. That’s an maximize of 25% when compared with February 2021, in accordance to a United states Nowadays Community localized examination generated with data from Real estate agent.com.

On a calendar year-above-12 months foundation, costs have been growing for 25 consecutive months. February price ranges are up from $244,000 the prior month.

The quantity of residences offered rose by 43.6% from a yr before. A total of 280 houses ended up offered countywide during the month of February. All through the very same time period a 12 months earlier, 195 one-family members residences ended up offered.

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Actual estate product sales can take weeks or months to be recorded and gathered. This is the latest information made available through Real estate agent.com to the Usa These days Community.

Escambia County condominiums and townhomes marketed in February experienced a median revenue cost of $295,000. That determine signifies a 64% improve yr above year. Some 49 were offered, up 53.1% from a year earlier.

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Information and facts on your local housing markets is accessible via the United states of america Nowadays Network, with much more information from Real estate agent.com.

In Escambia County the prime 10% of the attributes bought had prices of at minimum $465,000, up 19.3% from a year ahead of.

In February, two houses marketed for at least $1 million, consisting of one condominium or townhome and 1 other residence.

The median dwelling sale value — the midway stage of all the homes or models bought about a time period of time — is applied in this report alternatively of the average household sale price tag simply because experts say the median offers a much more correct perspective of what is going on in a market. In acquiring the regular price tag, all prices of homes marketed are added and then divided by the variety of households offered. This evaluate can be skewed by one particular small or large selling price.

The United states of america Right now Network is publishing localized variations of this tale on its news sites throughout the place, produced with information from Real estate agent.com. Localized variations are created for communities the place the details excellent and transaction volume meets Real estate agent.com and Usa Right now Community benchmarks. The tale was created by Sean Lahman.

This post originally appeared on Pensacola News Journal: Escambia County’s ordinary household bought for $250,000 in February 2022