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You are here: Home / Buying Real Estate / Real Estate Sales Are Steadily Climbing

Real Estate Sales Are Steadily Climbing

October 25, 2015 by Gary Cardillo

The rise in sale prices is not only due to the lower priced properties that are no longer on the market, but due to lower inventory levels.
The rise in sale prices is not only due to the lower priced properties that are no longer on the market, but due to lower inventory levels.

A look at January-September sales in 2014 compared to January-September sales in 2015 shows an increase all around.

Here we take a look at sales of homes, condos and lots in Charlotte County as a whole, as well as Punta Gorda Isles and Burnt Store Isles sales.

Charlotte County single family home sales

2014 2015
Total Homes Sold 3,194 3,579
Average Sq. Ft. 1,735 1,767
Days on Market 96 82
Selling Price $181,959 $204,432
Sales Price to List Price Ratio 95% 96%

Charlotte County condo sales

2014 2015
Total Condos Sold 804 848
Average Sq. Ft. 1,320 1,306
Days on Market 114 114
Selling Price $155,518 $183,407
Sales Price to List Price Ratio 94% 95%

Charlotte County lot sales

2014 2015
Total Lots Sold 4,970 5,000
Days on Market 222 216
Selling Price $90,474 $94,421
Sales Price to List Price Ratio 94% 95%

Punta Gorda Isles and Burnt Store Isles single family home sales

2014 2015
Total Homes Sold 242 272
Average Sq. Ft. 2,204 2,284
Days on Market 112 117
Selling Price $378,246 $437,751
Sales Price to List Price Ratio 95% 95%

Punta Gorda Isles and Burnt Store Isles condo sales

2014 2015
Total Condos Sold 176 183
Average Sq. Ft. 1,543 1,598
Days on Market 100 104
Selling Price $187,023 $218,112
Sales Price to List Price Ratio 95% 95%

Punta Gorda Isles and Burnt Store Isles lot sales

2014 2015
Total Lots Sold 83 85
Days on Market 398 427
Selling Price $151,923 $170,841
Sales Price to List Price Ratio 91% 91%

The rise in sale prices is not only due to the lower priced properties that are no longer on the market, but due to lower inventory levels. Generally speaking, sellers are pricing their homes more aggressively as the days of marking a property up to provide more negotiating room are gone. Buyers want to know they are getting a fair price and the result is you are seeing selling price to list price ratios in the mid to upper 90% levels.

With the outlook of prices rising, low inventory levels and the strong possibility of interest rates increasing, no longer is the real estate market a seasonal endeavor. Buyers are now in the market on a year round basis willing to hop on a plane when they see a property that is of strong interest. While September and most of October are typically the slowest selling times of the year, this window is continuing to shrink as buyers and sellers are no longer waiting for the new season to approach with the thought more properties will come on the market to choose from. While more inventory is sure to come on the market, higher list prices are sure to accompany them.

After a few years of unusually frigid conditions up north, there is a much greater number of people now looking to the year round warmer climates to call home, and with that comes a stronger demand on the lower inventory of homes. Buyers are now realizing this, and are coming back much earlier each year out of fear their “dream home” will no longer be available if they wait as they are seeing homes selling at a much faster rate than in years past.

Filed Under: Buying Real Estate, Selling Real Estate

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