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March Monthly Market Update
Sandy Blanton
Sandy Blanton was born and raised in Pensacola, Florida and has nearly 30 years of experience in NWFL real estate...
Sandy Blanton was born and raised in Pensacola, Florida and has nearly 30 years of experience in NWFL real estate...
March Market Update
1,486
Properties Listed
$345,382
Average Sales Price
66
Average Days on Market
Compared to 2022, the numbers for March show:
- There were 127 less properties listed
- Average sales price increased by about 2.1% (lower than the 2022 & 2021 rate of appreciation)
- Homes sat on the market for an average of 24 more days
What does this mean?
The market is evening out: Homeowners are wanting to sell while they have historically high equity and more buyers are getting into the market now that it's less competitive. Even though there are less homes being listed, they're taking longer to sell. This points to buyers having more negotiating power than they have in previous years.
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