Real Estate Market Conditions https://www.newhomesdirectory.com/Florida/punta_gorda/Real-Estate-Market/ Wed, 06 Jul 2016 00:00:00 GMT Wed, 06 Jul 2016 00:00:00 GMT en-us December Update https://www.newhomesdirectory.com/Florida/Punta_Gorda/Real-Estate-Market/DecemberUpdate/ <p style="MARGIN: 0in 0in 10pt" class="MsoNormal"><font face="Calibri">Overall, 2013 was a great success for our local Punta Gorda/Port Charlotte real estate market and all signs point to an even better 2014. Wall Street finished strong, with just a few hiccups along the way and the economy in general is healthy. Even though interest rates are a full point up from the beginning of last year, they are still quite attractive. Unemployment continues to drop both nationally and especially here in Florida. Sometime early in 2014, our population will exceed that of New York making us number three in the U.S. We are in for a wonderful year here in S.W. Florida. <br></font></p><p style="MARGIN: 0in 0in 10pt" class="MsoNormal"><font face="Calibri">Let's take a look at the numbers. Last year we sold 2700 single family homes at a median price of $133,000, a remarkable gain of about 21% from 2012. Looking for a steal? Last year 78 of the 2700 homes we sold were waterfront 3/2s with pool and Gulf access for less than $250,000. This type of bargain can't go on for long. Sales of condominiums, town homes and villas totaled 837 units at a median price of $105,000, up a modest 5%. Vacant lot sales are on the rise, especially salt waterfront lots with Gulf access. <br></font></p><p style="MARGIN: 0in 0in 10pt" class="MsoNormal"><font face="Calibri">For 2014 we sold 255 Gulf access lots, 120 of them priced below $60,000. By way of comparison, in 2010 we totaled only 107. There has been a significant rise in the number of permits issued for the construction of new homes. New permits totaled 422, up about 79% from last year. This spurt will result in a strong price appreciation in lot prices for 2014.</font></p> <p style="MARGIN: 0in 0in 10pt" class="MsoNormal"><font face="Calibri">As I write this update, our friends in the Midwest and Northeast are being assaulted with record breaking cold spells and blizzards and we hope they persevere, but historically such climatic misery up north results in strong real estate activity in sunny S.W. Florida and we are sure this year will not be an exception. If you are ready for your portion of the good life, come on down!<span style="mso-spacerun: yes">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></font></p> Thu, 09 Jan 2014 00:00:00 GMT October Update https://www.newhomesdirectory.com/Florida/punta_gorda/Real-Estate-Market/OctoberUpdate/ <p style="MARGIN: 0in 0in 10pt" class="MsoNormal"><font face="Calibri">The future looks bright here in Charlotte County Florida. Unemployment is down for the third straight month, there have been more building permits issued since anyone can remember and our local Punta Gorda/Port Charlotte real estate market continues its' robust recovery. Last month, 210 single family homes sold at an average price of $152,000. This brings the year to date total to 2271 homes sold at a healthy average price of $163,500. The sale price to asking price ratio is at a steady 95% and days to contract is about three months. The market is also very healthy in the category of condominiums, villas and town homes.<span style="mso-spacerun: yes">&nbsp; </span>Year to date, 642 units have sold at an average of $113,600. One of the reasons for this overall steady recovery is that the number of distressed bank owned properties coming onto the market has diminished by almost half since last year, allowing normal pricing and appreciation back into the market. With interest rates around 4% and a strengthening national economy, we are optimistic about the future.</font></p> <p style="MARGIN: 0in 0in 10pt" class="MsoNormal"><!--?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /--><o:p><font face="Calibri">&nbsp;</font></o:p></p> <p style="MARGIN: 0in 0in 10pt" class="MsoNormal"><font face="Calibri">A segment of our market that has been dormant for years, lot sales, has started to come alive again... especially waterfront lots. So far this year, we have closed on 79 waterfront lots in our 2 large waterfront communities, PGI and BSI.<span style="mso-spacerun: yes">&nbsp; </span>In 2009 the total for the same time frame was 16!!<span style="mso-spacerun: yes">&nbsp; </span>So, all phases, homes, condos and land are doing well.</font></p> <p style="MARGIN: 0in 0in 10pt" class="MsoNormal"><o:p><font face="Calibri">&nbsp;</font></o:p></p><span style="LINE-HEIGHT: 115%; FONT-FAMILY: 'Calibri','sans-serif'; FONT-SIZE: 11pt; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA">There are currently 1139 single family homes for sale in our area. Of these, 248 are 3 bed -2 bath with swimming pools on Gulf access canals priced at a median of $439,000. At present, we have a selection of 31 of these w/f homes priced below $250,000, many less than 25 years old. It is hard to imagine bargains like these remaining for long.</span> Tue, 19 Nov 2013 00:00:00 GMT August 2013 Punta Gorda Market Update https://www.newhomesdirectory.com/Florida/Punta_Gorda/Real-Estate-Market/August2013PuntaGordaMarketUpdate/ <p style="MARGIN: 0in 0in 10pt" class="MsoNormal"><font face="Calibri">We are now well into our sluggish, sultry summer market with daytime temperatures in the 90s and more rain than we can remember but our local Punta Gorda/Port Charlotte real estate market continues to be active. In July we closed on 232 single family homes bringing our total for this year to 1639 units. This is slightly ahead of last year’s total but the average price has risen by over 20% and it is taking 3 weeks less time to get them under contract. Our market is changing from a buyer's market to one that favors sellers. Although the inventory is much less than several years ago, there is still a great selection. Smart sellers who have been waiting to put their homes on the market are now listing them for sale knowing that interest rates for loans to buyers won't stay at 4.25% forever. Sales of condominiums, townhomes and villas are ahead of last year’s pace also, with prices up about 12% and volume up a comfortable 7%. Another healthy sign is the diminished flow of bank influenced properties coming on line helping to stabilize the market.</font></p> <p style="MARGIN: 0in 0in 10pt" class="MsoNormal"><!--?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /--><o:p><font face="Calibri">&nbsp;</font></o:p></p> <p style="MARGIN: 0in 0in 10pt" class="MsoNormal"><font face="Calibri">A segment of our market that has been dormant for years, lot sales, has started to come alive again... especially waterfront lots. So far this year we have closed on 50 waterfront lots in PGI. In 2009 the total for the same time frame was 10!!<span style="mso-spacerun: yes">&nbsp; </span>So, all phases, homes, condos and land are doing well.</font></p> <p style="MARGIN: 0in 0in 10pt" class="MsoNormal"><o:p><font face="Calibri">&nbsp;</font></o:p></p><span style="LINE-HEIGHT: 115%; FONT-FAMILY: 'Calibri','sans-serif'; FONT-SIZE: 11pt; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA">There are currently 1041 single family homes for sale in our area. Of these, 307 are on saltwater canals leading to the Harbor and the Gulf of Mexico .Of these, 95 are priced under $250,000. Of this number, 29 are 3 bed, 2 bath with swimming pools and docks. With steady increases in both volume and prices, along with historically low interest rates, it is hard to imagine bargains like these remaining for long. </span> Thu, 15 Aug 2013 00:00:00 GMT June 2013 Punta Gorda Real Estate Conditions https://www.newhomesdirectory.com/Florida/Punta_Gorda/Real-Estate-Market/June2013PuntaGordaRealEstateConditions/ <p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><font face="Calibri">After the best start in many years, our local Punta Gorda/Port Charlotte real estate market showed the first signs of a slow down last month. We were expecting it to happen in May when our seasonal residents head back north, but we actually were busier than we were in April. Our totals for June were still quite respectable. We closed 249 single family transactions at an average price of $165,000. A drop of 20 units in volume and a $13,000 drop in price. The sales price to asking price ratio however, jumped up to 96%, a sign that the market continues its transition to a seller’s market. A six month comparison reflects this trend. Since January our volume is approximately the same as 2012. The average sale price has jumped to $160,000, a 23% boost from last year. Predictions were for a 10%-12% gain but we have doubled the estimates. To put this season in perspective, in 2009, at the very bottom of the real estate recession, it took us until September to reach the 1400 units that we have closed so far this year and at almost $40,000 less per sale.</font></p><p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><font face="Calibri"><br></font></p> <p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><!--?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /--><o:p><font face="Calibri">&nbsp;</font></o:p></p> <p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><font face="Calibri">A segment of our market that has been dormant for years, lot sales, has started to come alive again, especially waterfront lots. So far this year, we have closed on 45 waterfront lots in PGI. In 2009 the total for the same time frame was 9!!&nbsp; So, all phases, homes, condos and land are all doing well.</font></p><p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><font face="Calibri"><br></font></p> <p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><o:p><font face="Calibri">&nbsp;</font></o:p></p><span style="FONT-FAMILY: 'Calibri','sans-serif'; FONT-SIZE: 11pt; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA">There are currently 1024 single family homes for sale in our area. Of these, 317 are on saltwater canals leading to the Harbor and the Gulf of Mexico, 69 are priced under $250,000. Of this number, 26 are 3 bedrooms, 2 baths with swimming pools and docks. With steady increases in both volume and prices, along with historically low interest rates, it is hard to imagine bargains like these remaining for long. </span> Sat, 13 Jul 2013 00:00:00 GMT May 2013 Punta Gorda Real Estate Market Conditions https://www.newhomesdirectory.com/Florida/punta_gorda/Real-Estate-Market/May2013PuntaGordaRealEstateMarketConditions/ <p style="MARGIN: 0in 0in 0pt" class="MsoNormal"></p> <p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><font face="Calibri">April typically marks the end of our busy season because most of our seasonal residents, "snowbirds", have left for their northern homes. Possibly because this winter up north has been unusually nasty, they have delayed leaving or maybe because the real estate market in general is booming down here, whatever the cause, we were busier last month than in March by a healthy margin and continue to be. All the indicators point to an unusually productive summer and maybe even carrying over to the fall.</font></p> <p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><!--?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /--><o:p><font face="Calibri">&nbsp;</font></o:p></p> <p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><font face="Calibri">Last month, in our local Punta Gorda/ Port Charlotte market we closed 242 single family transactions at an average of $159,017, an improvement from March, and the average time to contract was under 90 days for the first time in years. An analysis of the first four months of 2012 and the same time frame this year shows startling results. We have averaged almost $20,000 per sale more and done it in 25 days less time. Not to be outdone, condominiums, villas and town homes are also hot items. Last month we sold 89 units at an average of $114,000. That is 19 units more than April 2012 at $6000 more per sale. Plus, we did at an average time to contract of 46 days less. One big reason is there are less distressed and bank owned properties slowing down the system. Last year through April, 370 of the single family home sales were distressed properties while this year the number drops to 203.</font></p> <p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><o:p><font face="Calibri">&nbsp;</font></o:p></p> <p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><font face="Calibri">There are currently 1042 single family homes for sale in our area. Of these, 369 are on saltwater canals leading to the Harbor and the Gulf of Mexico. Of this number, 25 are 3 bed, 2 bath&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p><span style="FONT-FAMILY: 'Calibri','sans-serif'; FONT-SIZE: 11pt; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-bidi-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA">with swimming pools priced below $250,000.&nbsp; With steady increases in volume along with historically low interest rates, it is hard to imagine bargains like this remaining for long.&nbsp;</span> Wed, 15 May 2013 00:00:00 GMT