If you’ve been teetering with the decision of whether or not to sell your home or condo in Pensacola, a recent article released by the Pensacola News Journal might help you make up your mind. Long story short, years after the recession, condo values have officially rebounded.
According to real estate data from Zillow, median condo values in the United States are increasing at a 5.1 percent annual rate compared to single-family homes which are increasing at a 3.7 percent rate. Condos in Pensacola, however have increased in value at an 8.7 percent rate between September 2014 and September 2015 alone.
In general, the Gulf Coast condo market is hot and hot for a few reasons. First and foremost because of demand is exceeding supply. Additionally, condos are a better bargain now for first time home-buyers and foreclosures aren’t nearly as prominent as they were a few years ago.
If you were looking for a golden opportunity to list your home or condo, this is it. Contact one of our Southern Real Estate Sales’ agents today for more information how we can sell your property within your time frame!