Bordering Escambia Bay and Pensacola Bay, the Pensacola Florida area is a charming blend of history and natural beauty. Known as the "City of Five Flags" for the Spanish, French, British, Confederate and American governments that have laid claim to the region at different times since the 1600s, every year Pensacola celebrates this diverse history with a 10-day fiesta. As one of the oldest metro areas in Florida, the city is full of ways to experience its local history, from exploring the area's historic districts to browsing their many cultural museums.
Pensacola is a great place to live for outdoors lovers. The beaches facing the Gulf of Mexico are known worldwide for their white sand and emerald waves. Pensacola provides a gateway to an amazing fishery, the bays are popular with anglers, while offshore fishermen can pull up grouper and snapper from the deeper Gulf waters.
With the new year coming, Pensacola real estate is positioned to be in a sweet spot. With the buyers’ market experiencing a surge as home prices continue to rise slowly and steadily, it is a great time for both homebuyers as well as sellers. Rick Harper, an economist and professor at the University of West Florida says I don’t expect to see mortgage rates to rise dramatically the next year or so."
As a result, affordability for most buyers in the Pensacola region's housing market should continue, even with growing local sales prices. According to Harper's calculations on data from the county property appraiser's website, the average sales price on existing single-family residences in Santa Rosa County experienced about a 2 percent jump from 2015 to 2016. On new homes it increased by 3 percent in the same span. This steady pace bodes well for anyone entering the housing market in 2018. If you want to learn more about Pensacola real estate or have already found your dream home there, please click below to learn more about Setco Services’ Pensacola office and what they can do to help you have a wonderful real estate experience in the new year!
Photo Courtesy of VisitPensacola.com