Pensacola area home prices fall slightly. See where real estate is the hottest in Escambia

Home prices in Escambia County continue to fall in line with Florida and the U.S. as a whole, according to the latest data from Realtor.com.

The median listing price in the county dropped 4.66% year-over-year in January, reaching $339,350 per home. Meanwhile, inventory is increasing as homes are spending more time on the market.

The average Pensacola home in January spent about 78 days on the market, up 14.71% from December and 15.56% from the same time last year. Active listings are also up from last year, sitting at about 1,417. New listings have dropped dramatically to 484, down 7.63% from December and 32.96% from last year.

Pensacola's most expensive homes: Check out the 5 most expensive homes sold in Escambia in 2023

Pending sales are up to 512, a 94.49% increase from December and 56.9% increase from last year.

Where are the real estate hot spots in Escambia County? Keep reading to find out.

Northeast Pensacola real estate saw the highest increase in value

The 32504 zip code, which encompasses areas like Sacred Heart Hospital, Pensacola State College, Cordova Mall and the Pensacola International Airport, saw the biggest year-over-year increase in the median listing price, jumping up 15.28% to $336,225 per home year over year.

The 32503 zip code, which includes Southeast Pensacola, East Hill and East Pensacola Heights, saw inverted numbers, the median listing price of homes dropping 15.08% to $348,175.

Downtown Pensacola homes sit on the market longer

Pensacola homes in the 32502 zip code, which includes the heart of downtown like the Pensacola Bay Center and Blue Wahoos Stadium, sit on the market on average for 103 days, which is 32% longer than the county average. The good news? That number is down 48% from last year.

Homes in Molino, which uses the 32577 zip code, sell the fastest. The median days on the market for Molino home is 55, down 54.47% from last year.

Escambia County home sales price by zip code

On average, home prices in Escambia County dropped 4.66% to $339,350 per home, but those prices fluctuate by zip code. Here’s a look at the area’s hottest and coolest zip codes.

Escambia County home sales at a glance

This article originally appeared on Pensacola News Journal: Pensacola area home prices fall slightly. Here's the hottest zip codes