Here are the facts. Residential property sales in our greater Pensacola area are at the same levels as the 2000/2001 market. The graph shows our most recent upward trend with the peak of the market in the fall of 2004 and the progressing cycle downward ever since. We have now reach the bottom of our bell curve. If history repeats itself, as it typically does, we should find 2008 to be the leveling year in our Pensacola real estate market. Only time will tell. The graph illustrates Residential Monthly Listing Sales from 1999-2008.
Numbers gathered from the Pensacola Association of Realtors monthly sales figures.
