4/4/2023 Pensacola Florida Real Estate
March closed sales in the Pensacola market exceeded expectations. There were 776 closed sales of single family detached homes. The Pensacola market consists of Pensacola, Cantonment, Molino, Pace, Milton, Navarre, Pensacola Beach and Gulf Breeze Florida. When compared to March 2022 closed sales were down 15.2%. However, the 776 closed sales represented an increase to the March numbers of the years 2017 to 2019 when we averaged 664 closed sales. The fuel was the slight dip in interest rates, a normalization or acceptance of interest rates, and continued population growth.
Despite the fact that March 2022 saw a 15.2% decrease in closed sales compared to the previous year, it still represented an increase when compared to 2017-2019 averages.
Right now, in Escambia County (Pensacola) we are averaging 1.25 foreclosure filings per day. In Florida this is known as a Lis Pendens.
In my experience I have found that homeowners will enter into various emotional stages. It can be emotionally devasting to be facing a foreclosure or have a lack of resources to maintain the condition of a home. It is very similar to the stages of grief. The first stage and the hardest to get past is the stage of “Denial”, and the longer this denial lasts the more difficult it becomes to implement a solution.
My experience has shown me that homeowners need support and guidance during these tough times.
I recommend that we have a conversation, a start of a conversation and see where that leads us. Perhaps a solution is possible. At the very least allow me to learn more about what you need or want so I can give you the correct advice.
Jack Lara, Broker-Associate, Serving the Pensacola Florida real estate market since 1999
Joaquin Alberto Lara, LLC