As the area enters the busier season as far as snowbirds and visitors, the real estate market tends to slow down a bit, shifting to fewer home and condo sales.
However, that shouldn’t discourage people from selling their homes, said Afra Newell, the president of the Punta Gorda-Port Charlotte-North Port Association of Realtors.
According to Newell, low inventory and low interest rates make now a good time to sell.
Buyers can also enjoy low interest rates and stable prices, but have slimmer pickings with a low inventory compared to the summer months.
The market has improved since this time last year, according to the Punta Gorda-Port Charlotte-North Port Association of Realtors’ September report.
Here are some highlights from that report:
Closed sales: 319 (9 more than this time last year)
Median sale price: $215,000 ($7,882 more than this time last year)
Active listings: 1,280 (124 more than this time last year)
Months supply of inventory: 3.8 (0.5 more than this time last year)
Though sales have slowed down since May’s peak of 445 sales, the region is still seeing growth.
With 319 closed sales in September, the area has seen a 3% increase since this time last year.
In recent years, single-family home sales typically reach their peak between April and July.
Meanwhile, inventory has increased slightly, as it typically does this time of year. However, inventory is still low, according to Newell.
“The increase was just because more sellers felt confident to put their houses on the market,” Newell said.
Sale prices also decrease this time of year, with September showing a median sale price $10,000 less than August.
Some of this dip could be attributed to sales typically happening in the summer, but also due to supply and demand, consumer confidence and interest rates.
Townhomes & Condos
Closed sales: 73 (22 more than this time last year)
Median sale price: $147,500 ($26,860 more than this time last year)
Active listings: 271 (2 less than this time last year)
Months supply of inventory: 3.7 (0.1 more than this time last year)
Townhome and condo sales saw a 43% increase in sales this September compared to last September. Newell also attributes this to seller confidence, as it’s a seller’s market.
Though there is growth since this time last year, condos follow similar trends to single-family homes, with decreasing prices and a smaller inventory this time of year compared to the spring and summer months.
Back in April, there was 5 months supply of inventory with a median sale price of $175,000.