The front page of the “Charlotte Sun” Sunday newspaper clearly points to a local economy improving on all fronts. Moving in the same direction is Punta Gorda which continues to evolve as a community with activities/events on many levels, keeping this city vibrant. This week the city has played host to the “2012 International Association for Disabled Sailing World Championships” with the finals being held today. Last week the city enjoyed being selected as the location for a major food distribution company Cheney Brothers who will not only be investing in “bricks and mortar” but bring 350 new jobs.
So it’s not surprising to see “Punta Gorda Metropolitan Area” which includes Port Charlotte and Charlotte County added to the national list of markets on the road to recovery. Measurement criteria of housing permits, home prices, inventory, and employment all point to a market on the rebound. The Punta Gorda-Port Charlotte-North Port Board of Realtors president Bob Newton also agreed with the findings, this along with other area trends points to a turnaround underway.
Having an office in Fishermen’s Village which is the one of the largest tourist destination in Southwest Florida I can say firsthand that traffic and sales are up. This isn’t just a blip on the radar, Punta Gorda real estate and Port Charlotte has enjoyed year of year improvement for pass 3 years. Those numbers were achieved during a market with falling prices, foreclosures and high inventory levels.
Market conditions have stabilized on many of levels, such as fewer foreclosures and reduction of inventory levels. Improvements in those 2 categories have lead to prices stabilizing along with increased values in some markets.
In short, many believe 2012 will go down as the turning point in the Punta Gorda housing market. Not to worry for potential buyers, fantastic real estate values will continue to rule for the foreseeable future.