Punta Gorda Real Estate Market Trends September 2019
Like August September numbers are all up. September year over year in closed sales was up 3.6%however year to date closed sales remain down at 3.9%. Median sale prices in September jumped year over year to 9.7% and average sale price was up 2.0%.
A tight inventory continues to support higher property prices, year to date home prices are up 3.6%. This has been a trend for every month but one over past 16 months. However, September like August shows a significant jump of 10.7% for active inventories (possible indication of slowing sales). Inventory levels have increased to 3.8 months year over year with the question being will this continue? 2019’s monthly average inventory remains favorable for sellers and is a long way from being a balanced supply of 6 months.
Inventory levels continue to trend between low 3’s to mid 4’s for past 6 months. Again, if inventory trends like past 6 months this should support a continuation of increasing prices. September shows an increase of 9.1% on pending sales year over year but year to date pending sales remain down at 2.3%. Dollar volume for September saw a jump of 3.6% year over year.
- Closed Sales at 319 is up 3.6% year over year
- Average Sale Price $249.7 is up 0.0% year over year
- Dollar Volume $79.7 is up 3.6% year over year
- New Pending Sales 349 is up 9.1% year over year
- New Listings 442 is up 9.4% year over year
- Inventory Active Listing 1280 up 10.7% year over year
- Month’s Supply of Inventory 3.8 months is up 15.2%
September 2019 on balance remains pretty much unchanged from August. Inventory of Active Listings are up 9.0% year over year and inventory levels are up 10.7%. Still 2019 continues to be strong a seller’s market. Data supports sellers and increasing prices. Market continues to offer opportunity for Buyers particularly for waterfront property. Sellers need to keep in mind that things are changing but slowly and will remain a favorable environment for them. In short this remains a strong market for sellers and for resourceful buyers.
All market data was compiled from the Punta Gorda-Port Charlotte-North Port Association of Realtors.