Wallace Housing Market Report January 2025•Santa Rosa County, Florida

hero building illustration for mobile

Housing Prices in Wallace, FL

How much do homes in Wallace, FL cost?

Housing Market Conditions

Is Wallace, FL a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Wallace is a Neutral Market

Difference Since January 2024

At the same time last year, Wallace was a Seller's Market.

Insight

Wallace is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$500,000$199/SqFt
-$4,900
-1.0%

Based on all homes sold in the last 12 months

Insight

Homes in Wallace have sold for 1% less than they did a year ago.

Summary: The median home sold price in Wallace was $500,000 in January 2025, down 1% from last year, and the median price per square foot was $199.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Buffalo Mill Creek
+5.2%
Wallace
-1.0%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJan 2024Jan 2025Change YoY
1-$358K
N/A
2$275K$245K
-10.9%
3$350.5K$360K
+2.7%
4$529.9K$495.4K
-6.5%
5$626K$646.5K
+3.3%

Summary: Wallace housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes decreased by -10.9%. The home price for 3 bedroom homes increased by +2.7%. The home price for 4 bedroom homes decreased by -6.5%. The home price for 5 bedroom homes increased by +3.3%.

Housing supply in Wallace, FL

How many homes are available in Wallace, FL?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
31Last MonthJan 2025
302 months agoDec 2024
+3.3 %
Change MoMDec – Jan

Summary: The Wallace real estate market had 31 homes for sale in Jan 2025, a 3.3 % increase compared to Dec 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
5Last MonthJan 2025
82 months agoDec 2024
-37.5 %
Change MoMDec – Jan

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsDec 2024Jan 2025Change MoM
100
0.0%
200
0.0%
367
+16.7%
41817
-5.6%
567
+16.7%

Summary: Wallace housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes increased by +16.7%. The inventory for 4 bedroom homes decreased by -5.6%. The inventory for 5 bedroom homes increased by +16.7%.

Asking Price vs. Sold Price

How much do homes in Wallace, FL cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price0 Home

At Asking Price2 Homes

Under Asking Price2 Homes

Insight

If you're buying a home in Wallace, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Wallace in January 2025, down by 37.5% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and and 0% were sold over asking.

Days on Market for Wallace, FL

How long does it take to sell a home in Wallace, FL?

Breakdown of Home Sale Times

Under 30 Days2 Homes

30 – 90 Days0 Home

Over 90 Days3 Homes

Insight

Most homes in Wallace are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During January 2025, 5 homes were sold in Wallace; 40% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
98 DaysThis YearJan 2025
115 Days1 year agoJan 2024
-14.6 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in Wallace had an average listing age of 98 days in Jan 2025, down by 14.6% compared to the previous year.

Connect With An Agent

Local real estate agents are ready to help you find a home here

Sell My Home

Sell your home with an expert or get the job done on your own.

Get Approved

Get a customizable mortgage solution based on today's rates.

Newest Listings in Wallace, FL

What homes are available in Wallace, FL?

See More Listings

Nearby markets

Nearby markets aren't available for Wallace, FL

Popular Cities with Homes for Sale in Florida

MLS Disclaimers and Copyright

Based on information from Pensacola MLS, and Emerald Coast MLS for the period 02/01/2023 - 02/01/2025

Copyright © 2025 by the Multiple Listing Service of the Pensacola Association of REALTORS® This information is believed to be accurate but is not guaranteed. Subject to verification by all parties. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of the Multiple Listing Service of the Pensacola Association of REALTORS®. Florida recognizes single and transaction agency relationships. Information Deemed Reliable But Not Guaranteed. Any use of search facilities of data on this site, other than by a consumer looking to purchase real estate, is prohibited.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/7/2025, 7:20:54 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Information Deemed Reliable but not guaranteed. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All listings are provided courtesy of the Emerald Coast Association of Realtors, Copyright 2025. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/7/2025, 7:20:56 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.