Get ready for more listings on the market. As sure as the sun comes up in the east and sets in the west, the Charlotte County real estate market sees an upward spike in listing inventory every October and November. It is already starting in Punta Gorda Isles and Burnt Store Isles. This “spike” has nothing to do with current market conditions. It occurred in 2003, 2005, 2006, 2007, 2008 and it is already starting this year. If you notice, I left out 2004 because it did not occur that year due to Hurricane Charley.
I believe that the reason that this happens every year is threefold.
The first reason is that the snowbirds start to come back to the area in October and November. Many of these snowbirds were on the market in the spring but did not want to leave the house on the market while they were up north or leave it on the market with the hurricane shutters in place. There are also a number of them that have decided to sell due to health, financial or personal reasons.
The second reason that we see a spike in inventory is that many sellers believe that the prime selling season is about to start so they want to have their property on the market at the beginning of that “prime” season. History has shown that similar amounts of properties go into Pending in the summer as in the winter but that is not the perception so many wait until the late autumn to put their house on the market.
The third reason is simply that September is typically the weakest month for sales in Charlotte County. With September typically being the slowest month, less homes leave the market due to sales.
The combination of returning snowbirds, the perception that the “season” starts in November and September’s usual slow sales has resulted in an inventory spike in October/November every year that we can remember (aside from 2004). It has already started this year as well.
Visit our website for more information about the Punta Gorda area or Punta Gorda real estate.
