ResalesPensacola: Waterfront Homes Rising
Historic Pensacola, Florida has been ruled under five flags and boasts a rich naval history as the home to the fascinating National Museum of Naval Aviation at the Naval Air Station. A combination of white sand beaches, protected species of birds and other wildlife, and nightlife make vacationing or retirement a pleasure, and a sure investment for first or second homes.
Housing includes protected historic homes over 150 years old to shiny modern condominiums.
"Water, water everywhere," says Realtor Bill Sheffield. "From the waterfront to oak-lined streets - this area has it all."
Pensacola casts a spell. "When people move here, they begin to talk slower and open doors for others," says Sheffield. "Own a condo on Pensacola Beach and let something wonderful happen. Have other people pay for most of it. Condo and beach housing supply most of the short term lodging on the beach. Property values for prime gulf front increase almost 10% a year."
Yet there isn"t the pressure to buy as there is with some rising markets.
Explains Realtor Milly Burleson, "During the month of April, 2002, 405 homes sold in Pensacola and the outlying areas. The average days on the market was 124. The average sales price was $128,330.
"There are currently 3531 homes for sale in the Pensacola area. In East Hill, seven homes sold in April, with prices ranging from $82,000 to $168,000, and a median sold price of $105,000. The average sales price was 95.8% of list price. The average days on market was 77, with the shortest time being 9 days and the longest being 160 days. The average price per square foot of the sold homes was 74.61 per square foot. There are currently 73 homes offered for sale in East Hill, ranging in price from $59,500 to $1,250,000, with a median price of $153,900. There are 10 homes currently under contract. The average days on market for the current pending sales is 119."
About Cordova Park, Burleson says, "Activity indicates 29 homes for sale, with prices ranging from $99,900 to $1,395,000. There are 5 homes currently under contract. The homes under contract average 145 days on market. There were 2 closed sales in Cordova Park in April, 2002, with prices ranging from $138,000 to $222,000, and average days on market of 144."
And there"s plenty of reason to consider Pensacola for relocation.
"It"s the oldest city in the United States," says Realtor Mike Moran. "It has low cost of living, excellent medical facilities, wonderful weather, easy commuting, good schools and it is 15 minutes to the most beautiful beach in the world."
With lots of available land, housing costs are less in Pensacola. "Lots of new homes are reasonably priced," says Moran. "West Pensacola is the last undeveloped area of Pensacola. The growth just started two or three years ago and should continue for the foreseeable future."
Click here to view current Market Conditions in your location.