The Pensacola-area real estate market showed signs of stabilization in November 2025, with modest year-over-year sales growth, rising home prices, and continued shifts in inventory and buyer behavior. Overall, the market remains active, though at a more balanced and seasonal pace compared to previous years.
Sales Activity Shows Mixed Movement
Total combined sales for 2025 year-to-date reached 8,425 transactions, representing a 1.7% decrease compared to the same period in 2024. November closed with 620 total sales, reflecting a slight 0.4% increase year-over-year, despite a 14.8% decline from October 2025, which is typical for this time of year.
Quarterly sales trends indicate that while 2025 did not reach the elevated levels seen in 2021 and 2022, activity remains consistent with a more normalized housing market.
Home Prices Continue to Rise
Home prices continued their upward trend. The median sales price increased from $314,900 in November 2024 to $322,950 in November 2025, reinforcing the strength of pricing across the Pensacola-area market.
This steady growth suggests that demand remains strong, particularly for well-maintained and appropriately priced homes, even as buyers take a more cautious approach.
Inventory and New Listings Decline
New listings saw a noticeable pullback in November. Residential listings dropped 33% year-over-year, while condo listings declined by 12%. Residential new listings fell from 753 to 500, indicating fewer homeowners are choosing to sell during the current market environment.
Overall inventory followed a similar pattern, with residential inventory declining throughout the year and condo inventory also trending lower compared to earlier periods.
Days on Market Vary by Price Point
Days on market continue to vary widely based on price and property type:
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Homes priced under $200,000 typically sold within about one month
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Properties priced $500,000 and above averaged three to five months on the market
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Condos generally took longer to sell than single-family homes
These trends highlight the importance of realistic pricing and strategic marketing, especially for higher-priced properties.
Sale-to-List Price Ratios Remain Strong
Despite longer market times, most homes in Escambia and Santa Rosa Counties sold near or at their original list price. This indicates that properly priced properties continue to receive solid offers, even in a more balanced market.
Pending Sales Reflect Cautious Buyers
Pending sales declined modestly throughout 2025, with 224 pending transactions in November. This suggests buyers remain active but are taking more time to evaluate options, likely influenced by interest rates and affordability considerations.
What This Means for Buyers and Sellers
The November 2025 market data reflects a steady, balanced real estate environment. Sellers can still benefit from strong pricing but should focus on presentation, condition, and competitive pricing. Buyers may find more opportunities and negotiating room, particularly in higher price ranges.
As the market moves toward 2026, working with a knowledgeable local professional remains key to navigating changing conditions and making informed real estate decisions.
Source: Pensacola Association of REALTORS® — PAR Market Snapshot, November 2025
