Florida is leading the pack nationally as the state with the most homes for sale, and Charlotte and Sarasota counties are near the top for metro areas, a recent study shows.
A new study from Inspection Support Network that ranked U.S. locations by homes for sale revealed Charlotte County in the top 12 of all 198 small metro areas surveyed, and North Port-Sarasota-Bradenton in the top 10 of the 90 metro areas surveyed.
Meanwhile, Florida was No. 1 in the nation with the most listings per 10,000 owner-occupied homes.
The fact that the local real estate market area has more listings than other similar-sized regions didn’t concern Bill Dryburgh, president of the Realtors of Punta Gorda-Port Charlotte-North Port-DeSoto.
“We have more than 1,400 Realtors; 600 to 700 are active, and there’s not a whole lot to go around,” he said.
But more than that, Dryburgh pointed to shrinking inventory of homes and condos, which is far below what it was a year ago. In fact, the Punta Gorda metro region, which encompasses Charlotte County, showed a 23.4% decrease in listings from a year ago, while the North Port-Sarasota-Bradenton region’s listings were down 27.2%.
“If it’s priced right, it sells right away,” he said, adding, “the demand is out there; there’s an influx of people coming here.”
Factors driving demand in our area, he said, are “jobs — governors in other states have shut down things.” Also, high-tax states are causing an exodus. He said people are trying to get away from that.
He used Punta Gorda as an example, saying the city has “far less traffic, an excellent fire department, police department, and water system.”
The statistics include:
The Punta Gorda metro area (Charlotte County) averaged 302 listings per 10,000 owner-occupied homes, with an average of 1,710 listings per month. This reflects a 23.4% decrease from a year ago. The average number of new listings per month was 516. The median home price was $280,849.
In the same category of small metro areas, Appleton, Wisconsin had the fewest number of listings per 10,000 owner-occupied homes. It averaged 40 listings per 10,000 homes, and its average listings per month was 275. This reflected a 33.8% decrease from a year ago. The average number of new listings per month was 186, and the median home price was $290,914.
North Port-Sarasota-Bradenton averaged 247 listings per 10,000 owner-occupied homes, with an average of 5,617 listings per month. This reflects a 27.2% decrease from a year ago. The average number of new listings per month was 1,756, and the median home price was $369,609.
In the same category, Fort Wayne, Ind., had the fewest number of homes for sale. Data showed its average listings at 40, and its average listings per month was 492. This reflects a 29.7% decrease from a year ago. The average number of new listings per month was 317, and the median home price was $227,026.
According to Inspection Support Network, a combination of strong demand and weak supply resulting from the COVID-19 pandemic has drained inventory and pushed prices to record highs. However, not all real estate markets have been affected to the same degree.
In Florida, the average listing per 10,000 owner-occupied homes in the state was 248, with an average 118,165 monthly listings. This reflected a 20.7% decrease from a year ago. The average number of new listings in Florida per month was 36,559; the median home price was $341,742 when the study was conducted.
For details and comparisons on all the metro regions and states, visit: https://www.inspectionsupport.net/resources/cities-with-the-most-homes-for-sale.