Punta Gorda Real Estate Market Trends August 2018
We all agree that purchasing a home at any time is a journey entailing many decision. I think we all would agree that accurate and timely information and knowledge is important. Paradise in Punta is committed to help you make an inform decision on all levels. Punta Gorda Real Estate market like many areas has enjoyed sustained market improvement over the pass 7 years. To help in the process of purchasing a property moving forward we’ll be updating market data monthly.
August 2018 Punta Gorda Market Data
Median (50% of sales were above and 50% below) sale price for month of August shows a 4.7% increase year over year. While average price (total sales in dollars divided by number of sales) is also up at 5.9% year over year. When reviewing these numbers, in most cases these contacts were written over passed 2 months so you’re always looking in the rearview mirror. Annualize median prices are up 9.5% and average price is up 9.8% are both trending slightly down.
Year over year numbers continue to look market look good……but I expect to see a softening over next 12 months. It’s been a seller’s market for a number of years, but forecasters are expecting to see a trend to a more balanced market. For this to happen we need a 6-month inventory. Punta Gorda real estate like most markets change slowly over time never straight up or down. Year over year inventory numbers for August 2018 shows an average number of 3.3 month’s supply up .2% from August 2017. All market data was from the Punta Gorda-Port Charlotte-North Port Association of Realtors. If you would like to view the entire report, click the link below.
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