Pensacola's Median Home Sold for $330,000 Over the Last Year, a November Housing Snapshot Shows
Pensacola remains the affordable edge of Florida in a data guide updated November 1: a $330,000 median sale price, up 4.3 percent in a year, 42 days on the market and sellers taking about 96 percent of asking.
Pensacola's housing market, in one number, is $330,000. That was the median price of a home sold in the city over the last 12 months, across 1,384 closings, in Momentum Realty's Pensacola data guide updated on November 1 - about $184 per square foot for a median home of 1,848 square feet built around 1997. The median is up 4.3 percent from a year earlier, and it sits 18 percent below the median across the brokerage's wider Florida and Georgia coverage.
The market underneath that number is balanced rather than hot. Homes currently listed have been on the market a median of 42 days, and the city is carrying roughly 3.2 months of supply - the kind of inventory that gives buyers room to negotiate. Sellers have been getting about 96 percent of their original asking price, according to the guide, which also cautions that a home's tax bill resets at purchase: the seller's capped assessment is not the buyer's number.
The guide prices the carrying costs new Pensacola owners actually face. Escambia County's typical total millage is 17.54 mills, which works out to roughly $4,911 a year in property tax on the median home after the $50,000 homestead exemption. Citizens Property Insurance's average premium in Escambia County is about $2,364 a year, with private-market quotes varying by roof age and wind mitigation. The buyer pool behind the numbers, the guide notes, is the Pensacola mix: the Navy, the hospitals, and people who came for the beaches and stayed.
