The Greater Pensacola Market Update

Levin Rinke Realty’s average sale price is 22% higher than our next leading competitor.

The median price of homes in Escambia and Santa Rosa counties continues to increase.

The number of homes for sale has risen from the all-time lows of 2022. However, the number of listings is still far below historic norms.

The average time for a home to sell has gone up from 39 days in ‘22 to 59 days in ‘23. This is still far below the average of 81 days in 2019.

Homes continue to be absorbed by buyer demand at better than historic norms.


Definition: The absorption rate is the rate at which available homes are sold in a specific real estate market during a given time period. It is calculated by dividing the average number of sales per month by the total number of available homes. 

Homes are still moving at a great pace in comparison to 2019.

DO YOU THINK...

• You need a lot of money for a down payment on a home?

• You can't qualify to buy a home?

• That owning a home costs more than renting?

• You can't afford mortgage payments?

YOU MAY NOT KNOW...

• There are many loans available with very low down payment options.

• There are loans to help people with different credit and income situations.

• The monthly cost of owning a home is similar to or less than renting in many areas.