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Real Estate News in Perdido Key - January 1st, 2017
Prices on Perdido Key have risen and inventory is down. The supply and demand rule is coming into place. Condos in the lower $250k to $400K have the lowest inventory. New building pricing is starting around $750K and go as high as nearly $2M. As spring comes and inventory gets shorter, prices are likely to rise.
If you have any questions on financing call Sean Renfrow at Primary Residential Mortgage 850.291.3949

News for Perdido Key, FL
Why travel to the Bahamas when you can live and play on the Gulf Coast of Northwest Florida in Perdido Key. Beautiful white sugar sand beaches, emerald green waters of the Gulf of Mexico change different shades depending on the position of the sun. Walk miles of beach, watch the dolphins play and search for sand dollars. See the most incredible sunrises and sunsets.
Inventory is low and demand for condos is high. Values are going up.

News for Perdido Key, FL - May 31st, 2010 4:22pm
With the most unthinkable error man has made in this world, the oil flowing off the Louisianna Coast is a disaster uncomprehendable to me and everyone else. Perdido Key has been blessed with our beaches so far, out of reach of any oil or sheen. Our beaches are still as beautiful as ever, I was showing condominiums on the Gulf this past week and the water was as beautiful as ever with shades of green and blue. It may be wishful thinking but we may escape the devastation that has and continues to plague Louisianna. We have so many tourists here Memorial Day Weekend that I could barely get into the grocery store and out in a reasonable timeframe. A foreign company has no respect for the gift of our Gulf and the wildlife, fishing, shrimping has given the residents and visitors to this area. Anyone heard of Alternative Energy?
So far we are as normal but preparing for any changes. We that live here appreciate what we have even more than ever as do the tourists.

News for Perdido Key, FL - Friday July 10th, 2009 5:02pm
Perdido Key is actually a barrier island in the most southwestern area of Pensacola. The definition of Perdido is "The Lost Key". It was lost but now has been found. High rise condominiums dot the island. At some point in the future, more will be built. The laid back, easy going, relaxing feel of Perdido Key is the place you want to come home to. Spend the day at Pensacola Beach parasailing, walking the boardwalk, shopping and walking or go to Gulf Shores and enjoy the zoo, bungy jumping, the Waterslide, car racing, the ferris wheel and more. There are many waterfront condominiums for sale priced from $159,900 to $5,500,000. A buyer can choose from Gulf Front, River Front or the Intracoastal Waterway. The Gulf is quiet and the waves slap slowly onto the shore with gorgeous sunrises and sunsets. The River Front and Intracoastal are busy with boats, water skis, barges slowly drifting by, lights bouncing off the night waters. Choose from the different lifestyles on one Island.
National Market Conditions
2018 1st Quarter Market Report: Home Sales Steady - Prices Continue to Rise

The 1st quarter of 2018 ended on a good note with March existing home sales only down slightly over last year, and with 2018 home sales expected to exceed 2017 excellent year. Home Prices in 2018 continue to rise, increasing 5.8% over the end of March last year.

The most notable change in the 1st quarter was an increase in seller activity. Our survey showed that in 46% of the markets surveyed there were still more buyers than sellers, but a decrease of 27% from March 2017. Additionally, 17% of our markets surveyed showed more seller activity than buyer activity, an increase of 8% over last year. The remaining 37% of the markets showed an equal amount of buyer and seller activity which was an increase of 19% over last year. The increased activity, however did not ease the tight inventory 73% of our markets showing a very tight supply of homes available for sale. Home prices are also on the rise with 86% of markets showing price appreciation in the last year.

According the National association of Realtors (NAR) existing home sales in March were down 1.2% over last year, but annual sales are expected to hit 5.6 million units compared to 5.1 million in 2017; inventory of unsold homes is at a 3.6 month supply and 46% of all homes sold in under one month.

The data in this report is generated primarily from our survey of HouseHunt.com exclusive member real estate agents across the United States. This grass roots approach to studying the housing market gives us a thorough look at where the real estate market is through the eyes and perspective of the local real estate agents who are living and working in the trenches of each community.

Buyer and Seller Activity
The trend in both buyer and seller activity is up significantly in the 1st quarter of 2018 compared to the buyer and seller activity from last year. Buyer activity is steady or increasing in 94% of the markets surveyed and decreased in only 6% of the markets surveyed indicating a significant 8% increase in activity from Spring 2017. Simultaneously the trend for seller activity posted a solid 10% gain in the 1st quarter of 2018 with 85% of the markets indicating steady or increased seller activity compared to 75% of the markets at this time in 2017. Despite increased seller activity there are still more buyers than sellers and homes are selling quickly. In fact, according to NAR inventories have decreased to 3.6 month supply compared to 3.8 months in March of 2017. A balanced "normal market" is considered to be a 6 month supply of homes for sale.

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Winter 2019 Market Update
Perdido Key is an area of Pensacola with a zip code of 32507. According to Realtor.com our area is a HIDDEN GEM. Their artlcle reads: Pensacola, FL, has moved up to the #17 position on the Q2 turnaround list from #31 in the first quarter largely due to its -27.27% reduction in the median age of inventory. Pensacola Naval Air Station, Eglin Air Force Base in Fort Walton Beach and Tyndall Air Force Base in Panama City are three of the dominant regional employers. Military employment is a major factor contributing to economic stability and housing demand, helping Pensacola avoid the peaks and troughs of other Florida markets. Home prices have risen 11.35% in the past five years. Escambia County’s one in every 641 housing unit foreclosure rate is better than Florida’s statewide rate of one in every 401 housing units. Perdido Key has had a very low foreclosure rate.
Average Sold Home Price: $500,000

Average Time on Market: 60-90 days

Best Selling Price Range: $400,000 - $449,000

Existing Home Prices for the past 90 days: No Change

Market Trend: Decreasing

Buyer's or Seller's Market: More buyers than sellers

Buyer Activity for the past 90 days: Increasing

Seller Activity for the past 90 days: Decreasing

Multiple Offers? Yes

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? 0-5%

Is Financing Available For Qualified Buyers? Yes

Housing Inventory: Very tight market

Greatest Activity: Repeat Buyers

Nearest Metro Area: Pensacola

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Nancy Bristow GRI ABR e-PRO Certified Global Marketing Agent
Direct: 850-492-5717 Cell/Text: 850-485-0687
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Real Estate Professional, Nancy Bristow GRI ABR e-PRO Certified Global Marketing Agent Nancy Bristow GRI ABR e-PRO Certified Global Marketing Agent
ERA Emerald Coast Realty
Specializing in Perdido Key Real Estate
240 E. Intendencia Street
Pensacola, Florida 32502
Direct: 850-492-5717 Cell/Text: 850-485-0687
Email Me | Receive New Listings by Email
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(Because current market conditions can change rapidly in any given marketplace,
please check with Nancy Bristow GRI ABR e-PRO Certified Global Marketing Agent for current Perdido Key, FL market conditions before acting on this information.)
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