As locals dust off holiday decorations and put up their Christmas trees, the real estate industry is slowing down for the winter.
But even if it is approaching a leisurely pace, that doesn’t mean it’s not a good time to at least look at homes, right?
“A lot of serious buyers take advantage of the holidays to come to visit family and friends and find the perfect place for themselves,” said Afra Newell, president of the Punta Gorda-Port Charlotte-North Port Association of Realtors. “Also, the weather now is perfect for house hunting.”
There are plenty of advantages to house hunting and selling this time of year, according to Newell. With stable prices, low interest rates and a healthy economy, Newell doesn’t see any cons.
Here’s what else you need to know from the association’s October report:
Single Family Homes
Closed sales: 331 (9 more than this time last year)
Median sale price: $223,000 ($1,950 more than this time last year)
Active listings: 1,331 (63 more than this time last year)
Months supply of inventory: 3.9 (0.3 more than this time last year)
Buyers: It’s your time to shine.
“A lot of sellers are too busy with the holidays and prefer not to deal with showings, but the buyers are still there,” Newell said.
And sellers: Take advantage of the quiet. One good thing about listing this time of year is having less competition, Newell added.
There’s no reason to wait to put homes on the market, Newell said. Being in peak season, the snowbirds are here and ready to look.
Townhouses and Condos
Closed sales: 78 (20 more than this time last year)
Median sale price: $173,250 ($28,250 more than this time last year)
Active listings: 266 (30 less than this time last year)
Months supply of inventory: 3.5 (0.4 less than this time last year)
Townhomes and condos have been steadily growing both in sales and price, proving to be a increasingly popular option for buyers.
“We have a shortage of affordable housing,” Newell said. “Condos and townhomes are a great alternative for this problem.”
And with the inventory low, the seller has the advantage.