Punta Gorda Real Estate Market Trends December 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.
The month of December shows a market continuing to slow. Key indicator is rising inventory levels along with a drop in pending sales and monthly dollar volume.
December 2018 Punta Gorda Area Market Data
Median (50% of sales were above and 50% below) sale price for month of December shows a 1.1% increase year over year. Average price (total sales in dollars divided by number of sales) is up by 1.2% 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 has fallen to 6.8% an average price is slightly down at 7.0%.
Year over year Pending sales for December have drop by 12.0%. It’s been a seller’s market for a number of years, but I see that trend shifting and expect to see a more balanced market slowly develop as inventory levels creep to 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 December 2018 shows an average of 5 month’s supply up .2% from November 2018.
Dollar Volume for December 2018 is 83.5k down 15.6% year over year with year to date volume at 1.2 Billion up 6.8% year over year. Median Percent of Original List Price received for December 2018 was 95.9% down at 0.1% year over year.
December continues to show market is in a transition moving steadily to a more balanced market. However December has shone a more dramatic drop off from prior months.
All market data was from the Punta Gorda-Port Charlotte-North Port Association of Realtors.
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