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Posts Tagged ‘Punta Gorda Real Estate’
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Monday, March 23rd, 2020It’s Beginning To Look A Lot Like ‘Season’
Wednesday, October 7th, 2009Get 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.
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Punta Gorda/Port Charlotte Board of Realtor Stats
Monday, September 14th, 2009They say that statistics can paint any picture, any color depending on the interpretation. I will do some of my own hypothesizing of the Punta Gorda/Port Charlotte/North Port Board of Realtors statistics released last week.
There are some interesting numbers. For example, within the Board covered area, there have been 2,030 single family home sales through August 31st. This is way off of the totals for 2005 but is 230 more sales than at the same date in 2008. More sales are better than fewer sales because it means that more buyers are taking the plunge and hopefully, inventory is being reduced.
Some other interesting parts of the data:
- 2,030 single family home sales through August 2009 (better than last year)
- Only 5 of those 2,030 were at sale prices higher than $700,000 (not good for sellers asking high dollars)
- 211 of the sales were between the small sale price range of $100-$119,999 (no wonder the median price for our area has dropped so dramatically)
This data is for a wide geographic area so PGI/BSI only make up a fraction of the data. However, sometimes it is good to look at the stats for the entire area. View the PG-PG-NP August 2009 Stats here.
Punta Gorda Market Update-September 2009
Wednesday, September 2nd, 2009Sometimes it truly does depend on how you look at the situation to decide if it is good or bad. The Punta Gorda Isles/Burnt Store Isles (PGI/BSI) real estate market has good news, bad news and some that I am not quite sure is which.
Transactions in Punta Gorda Isles and Burnt Store Isles are definitely up. There are simply more buyers buying properties which is good for any market. Whether the buyers are back due to pent-up demand, lower prices, more confidence in the economy, or lack of any real hurricane threats is anyone’s opinion.
An example of the up tick in transactions certainly can be seen in Burnt Store Isles. In 2008, there were 24 single family residential homes sold. Through September 1 of 2009, there were 24 single family residential homes sold with 6 currently in Pending. With 6 in Pending and 4 more selling months, there will certainly be more homes sold in Burnt Store Isles this year than last.
However, this up tick in transactions has not resulted in appreciation. I believe that this is due to the still very high amount of properties for sale (inventory). In August 2008, the average sale price in PGI/BSI was $414,856. In February 2009, the average sale price was $379,765. In August 2009, the average sale price was $359,780.
Good news – more sales due to more buyers
Bad news – prices still dropping due to very high inventory
For more information about the Punta Gorda Real Estate market, visit our website. You can view new listings by neighborhood, see all available properties organized by neighborhood, search all properties available in Charlotte County or even view Just Sold reports for many area neighborhoods.