Punta Gorda Real Estate Market Trends July 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.
July 2018 Punta Gorda Market Data
Median (50% of sales were above and 50% below) sale price for month of July shows a 4% increase year over year. While average price (total sales in dollars divided by number of sales) is also up at 7.1%. Keep in mind when reviewing these numbers, the vast majority of the contract were executed in May and June and closed in July. Annualize median prices are up 9.9% and average price is up 10.4%
So, based on year over year the numbers market looks pretty good. However, looking out over the next 12 months I expect these number to soften. 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. Year over year for July 2018 has an average number of 3.8 month’s supply. All market data was from the Punta Gorda-Port Charlotte-North Port Association of Realtors.
In need of a realtor or have any questions contact Ken Poirier at 941-661-9773 or email firstname.lastname@example.org