Punta Gorda Market Update – Through October 2018

“Season” in Punta Gorda seems to be arriving earlier each year.  There’s proof in recent market activity even though October 2018 was a “neutral” market, with the number of For Sale listings up 15.8% over September. The number of Sold listings increased 13.5% month-over-month between May and October, however, the number of Under Contract/Pending listings was down 31.8% compared to September. Based on market trends and what I’m seeing on a day-to-day basis, I anticipate the November market will reflect an upward trend in not only listings For Sale but also Sold and Pending listings.

A great indicator for the direction of property values is the Average Sold Price per Square Footage. Since Median Sold Price and Average Sold Price can be affected by the ‘mix’ of high- or low-end properties in the market, the Average Sold Price per Square Footage is a more normalized indicator on the direction of property values. The October Average Sold Price per Square Footage of $213 was up 3.4% from $206 last month (based on six-month trend – Appreciating/Depreciating/Neutral).

 

One last indicator I like to track is the Average Sold Price which increased by 0.4% over September. The Median Sold Price also increased by 1.8% . Based on the six-month trend, the Average Sold Price trend is “Appreciating” – $457,000, up 0.4% from $455,000 in September – and the Median Sold Price trend is “Appreciating” – $442,000, up 1.8% from $434,00 in September.  These are encouraging signs, especially for those considering selling soon.

While I don’t have a crystal ball (well, I sort of do), I project that November market activity will continue to increase and be favorable to both buyers and sellers. Buyers will benefit because there is increased inventory and sellers will benefit because of increased buyer interests in purchasing property in Punta Gorda.

Watch for my monthly market updates in upcoming blogs, or join my email newsletter list by sending me your contact information to CrystalCoovert@michaelsaunders.com.

 


Crystal Coovert is a Florida-licensed Realtor® at Michael Saunders and Company in Punta Gorda, Florida. Crystal is a member of the Punta Gorda/Port Charlotte/North Port Realtors® Association, Florida Association of Realtors®, National Association of Realtors® and is a Certified International Property Specialist (CIPS), a designation achieved by only a small percentage of Realtors® worldwide, as well as a Seniors Real Estate Specialist (SRES).

Crystal can be reached by phone or text at 941-322-7133  or by email at CrystalCoovert@MichaelSaunders.com.


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