Single-family homes, condos and townhouse sales and prices were higher in November amid shrinking inventory, based on statistics from Realtors of Punta Gorda-Port Charlotte-North Port-DeSoto, and the MLS.
The trend has continued in December, according to Luke Andreae, Realtor and leader of the Andreae Group at REMAX Harbor Realty in Punta Gorda. “December is very robust like November; we continue to see a high level of buyers amid lower inventory,” he said.
Andreae said that this December “is the strongest it’s been” for real estate sales.
There were 492 single-family homes sold in November versus 353 in November 2019, reflecting a 39.4% increase. Year-to-date sales stood at 4,935 for a 12.8% increase.
The average price of $326,160 against last November’s $284,106, was a 14.8% increase and the highest average price seen in 13 months. Year-to-date, the average price was $298,646 in November, up 8.8% from a year ago.
The median price in November stood at $269,900, up 12.5% from November 2019. Year to date the median price was $250,000, up 8.7%.
The median time a house was on the market this November, was down 11% to 65 days compared with 73 days spent on the market a year ago.
Inventory on active listings shrunk in November to 945 from 1,631 last year, which was a 42.1% decrease. Year-to-date, active listings were at 1,293 in November, or 25.5% less than a year ago.
Inventory supply was at 2.1 months, down 50%; year-to-date, inventory was at three months, down 34.8%.
Condos and townhouses
Condos and townhouses followed a similar trend as single-family homes in November. In November there were 126 closed sales versus 79 in November 2019, which was a 59.5% increase. Year-to-date sales were at 1,041, for a 7.9% increase.
The median sale price in November was $190,999 over $156,000 last year, for a 22.4% increase. Year-to-date, the median sale price was $189,950, or 13.4% over a year ago.
The average sale price of $268,704 compared with $198,163 in November 2019, was up 35.6%. Year-to-date, the average sale price of $230,790 showed a 16.1% increase.
There were 133 new listings over 110 a year ago; this was a 20.9% increase.
Inventory on active listings also fell; there were 345 units in inventory, below last November’s 403, or 14.4% less.
The median time it took for a unit to sell in November was 80 days versus 120 days a year ago.
And inventory supply was down to 3.6 months versus 4.6 months a year ago. This was a 21.7% decrease. Year-to-date inventory was at 5 months, or down 7.4% from a year ago.
Andreae said, “We’re seeing some people buying over the virus; they want to get out of the city.”
Earlier, Andreae said he’s been seeing a lot of buyers coming to our area from New York and New Jersey, looking for a home.
He said that it’s unknown whether the northern home buyers will stay after the pandemic ends, but for now, homes and condos are selling quickly after they are being put on the market, Andreae added.