Punta Gorda Real Estate Market Trends September 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.
For the month of September 2018, we’re adding the following data points for Single Family Homes. Dollar Volume and Median Percent of Original List Price.
September 2018 Punta Gorda Market Data
Median (50% of sales were above and 50% below) sale price for month of September shows a -0.2% decrease year over year. Average price (total sales in dollars divided by number of sales) is up by 3.5% 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 8.3% and average price is up 9.3% are both trending slightly down.
Year over year numbers continue to 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 September 2018 shows an average number of 3.3 month’s supply up .1% from August 2017.
Dollar Volume for September 2018 is 76.9% up 19% year over year with year to date volume at $803.5 million up 10.5% year of year. Median Percent of Original List Price received for September 2018 was 96.2% up 0.5% year over year.
All market data was from the Punta Gorda-Port Charlotte-North Port Association of Realtors.
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