SALES STATISTICS FOR September 2006 Punta Gorda and Port Charlotte, Fla

SALES STATISTICS FOR September 2006 Punta Gorda and Port Charlotte, Fla

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On October 10, 2006 there are currently 5,755 single family homes listed for sale in the Punta Gorda, Port Charlotte, North Port MLS. This area stretches from Venice in the north to Punta Gorda in the south and Englewood and Rotonda in the west to the east end of Charlotte County.

In Port Charlotte and Punta Gorda ONLY there are 2945 homes listed.

During the month of September, 2006, we have seen a leveling in the price of homes sold in our area while the number of homes sold declined. I base this on a study of “standard homes€ sold during that month. I define a standard home as the most popular, 3/2/2, 1500 – 2000 s/f home.

In the Punta Gorda, Port Charlotte areas ONLY, (All Punta Gorda, Port Charlotte: P-Sections 101 – P 124) according to the MLS, there were 193 standard homes with pools (3/2/2, 1500 – 2000 s/f) actively listed for sale and 243 without pools.

Homes for sale with pools in Punta Gorda, Florida (FL)

Homes for sale without pools in Punta Gorda, Florida (FL)

Homes for sale with pools in Port Charlotte, Florida (FL)

Homes for sale without pools in Port Charlotte, Florida (FL)

This eliminates all the two bedroom homes, all the very small and very large homes and homes on acreage. It only studies the standard, most popular home in the area. I feel this gives a benchmark on what prices are really doing.

Sales in August, 2006

Standard Homes Closed Sales September 1 – 30, 2006, Port Charlotte and Punta Gorda, FL average sale price:

3/2/2, 1500 – 2000 s/f, w/pool $223,500 (4)

no/pool, $233,000 (10)

Actually, sales were so dismal that precise numbers are difficult to determine. The few homes sold in the “standard€ category exemplify the problems of this slow market. Sellers are doggedly maintaining their prices. Buyers, likewise, are determined to find the best deal available. Pool home buyers bought smaller, older homes. The only standard home newer than the late 80’s to sell in PCPC during September was in Deep Creek. It sold for $284,000. Built in 2004, this home would have sold in the mid 300 range during the peak. The more reasonable price offered in this market allowed it to sell in 2 weeks.

When one looks at all homes sold in the area, regardless of size or features, there were 82 non waterfront sold, median price of $187,000. All including waterfront, 98, median price $200,000. While the total number of homes sold in each category was down by about 20 percent, the median price was up slightly.

Of the 16 true waterfront homes with gulf access, the median price was $375,000, down from in August $480,000. There are currently 681 waterfront homes in Punta Gorda and Port Charlotte, FL on the market.

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Jim Mulligan (941) 456-3034
Andy Leonard (941) 662-0033

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