2006 Northwest Florida Real Estate Market

Looks like there will be plenty of property for sale around Northwest Florida for a long while. The market is definitely a buyer's market now. The statistics speak for themselves. The trend started in 2005, right after Hurricane Dennis. At that time there were about 1200 houses for sale in the Pensacola Multiple Listing Service. Within weeks after the storm the numbers started to climb. Now the number of houses for sale is hovering around 5,000. Less than 400 of them sold in January 2006. Even more interesting, is that most of the houses sold were priced at less than $200,000. So, I think that indicates that a lot of people are ready to move away, at least away from the water, and that prices are now too high for many local residents to afford. Come back to see how the listings and sales statistics look at the end of February. What would you expect to see? Send an email to me at joe@stukey.com or visit our website www.stukey.com.