🏡 Pensacola Area Housing Market Update – February 2026

The Pensacola-area real estate market is kicking off 2026 with strong momentum, even as inventory continues to tighten. If you’ve been watching the market—or thinking about buying or selling—this latest data gives a clear picture of where things are heading this spring.

📊 Market Snapshot: Strong Start to 2026

The year is off to a solid start with 1,237 total sales year-to-date, marking a 10.9% increase compared to the same time in 2025.

February alone showed even stronger activity:

• 📈 Sales increased 23.2% from January

• 📈 Sales rose 22.1% compared to February 2025

👉 This tells us buyer demand is still very active as we head into peak spring season.

📉 Inventory Is Tightening (Again)

One of the biggest shifts in the market right now is inventory:

• 🏡 New residential listings are down 14.6% year-over-year

• 🏢 Condo listings are down even more—33.9% year-over-year

Looking at the chart on page 9, residential listings dropped from 972 in February 2025 to 830 in February 2026, showing a clear supply squeeze.

👉 Fewer homes hitting the market means more competition for buyers—and more leverage for sellers.

💰 Home Prices Continue to Rise

Prices are still trending upward, but at a steady pace:

• 💵 Median sales price increased from $314,900 (Feb 2025) to $320,495 (Feb 2026)

The median price chart on page 6 shows a consistent upward trend over the past few years, indicating long-term market stability rather than sudden spikes.

👉 This is a healthy sign for the market—values are growing without extreme volatility.

🏘️ What Price Ranges Are Moving?

The sales-by-price chart on page 8 shows the strongest activity in the:

• $200K–$299K range

• $300K–$499K range

👉 These “middle market” homes continue to drive the majority of transactions, especially for primary buyers and investors.

⏱️ How Fast Are Homes Selling?

Days on market varies depending on price point and property type:

• Lower price ranges tend to move faster

• Higher-end homes and condos take longer to sell

👉 Well-priced homes—especially in desirable areas—are still moving quickly.

📦 Inventory Trends: Still a Supply Issue

The inventory charts on pages 11–12 show:

• Residential inventory fluctuating but still relatively tight

• Slight increases month-to-month, but not enough to meet demand

👉 This continues to support a seller-leaning market overall.

🤝 Sale-to-List Price Ratios

Across Escambia and Santa Rosa Counties, homes are still selling close to asking price, as shown in the charts on pages 16–19.

👉 This indicates:

• Sellers are pricing homes accurately

• Buyers are willing to compete for well-positioned properties

📉 Pending Sales: Slight Shift

Pending sales dipped slightly year-over-year but showed a small increase month-to-month:

• Down 6.5% compared to February 2025

• Up 4.3% from January 2026

👉 This could signal a more balanced pace ahead—but demand is still very present.

📍 What This Means for Buyers & Sellers

🟢 For Buyers:

• Be prepared—competition is still real

• Fewer listings means fewer options

• The best homes are still moving quickly

👉 Having financing ready and acting fast is key.

🔵 For Sellers:

• Low inventory is working in your favor

• Homes are still selling close to list price

• Proper pricing is still critical

👉 This is a strong window to list before more spring inventory hits.

🏁 Final Thoughts

The Pensacola-area market is entering spring 2026 with:

• Strong buyer demand

• Rising (but stable) prices

• Tight inventory

While things may be slightly more balanced than previous years, this is still a competitive market—especially in desirable areas and price points.

📌 Source

Data sourced from the Pensacola Association of REALTORS® – February 2026 Market Snapshot