By NANCY J. SEMON STAFF WRITER “Charlotte Sun Newspaper”
Homes sales strong despite holidays
January traditionally is a slower month for real estate sales, and although closed sales were down from December, the market shows no sign of slowing.
“There is a 30-day lag and due to the holidays in December, Realtors were not writing as many contracts; January is even lower than the summer months,” said Sharon Neuhofer, president of Realtors of Punta Gorda-Port Charlotte-North Port-DeSoto, Inc.
She said in some parts of the nation, rising interest rates might be attributed to slowing home sales, but not in our area.
Many buyers in Southwest Florida are paying cash, so the mortgage interest rates do not affect them, she pointed out.
In January, when there were 323 closed sales of single-family homes in Charlotte County, 46.4%, or 150 buyers, paid cash.
Neuhofer said beside January’s traditional slowdown in sales, Realtors “have buyers we don’t have houses for.”
She said current low inventory levels means would-be buyers do not have a lot to choose from, and when they do find a house, often there are multiple parties interested.
“You can’t sell what we don’t have,” she said.
The same scenario held true for townhomes and condominiums. Of the 66 closed sales, 47 buyers paid cash, or 71.2% in January.
But while the median and average sale prices of single- family homes in January was lower than in December, the median and average price of townhomes and condos was higher.
SINGLE-FAMILY HOMES
The median sale price in January was $346,500, compared to $350,000 in December. The average sale price of $407,678 was also lower than December’s $450,671.
For 11 consecutive months, sellers were getting 100% of the original listed price.
The median time to sale was 57 days, and time to contract was 12 days. There were 370 homes in inventory in January, which represented a 0.9 month supply.
The inventory level from a year ago was down 30.8%.
TOWNHOMES AND CONDOS
The median sale price in January stood at $287,000, up from $269,950 in December.
The average sale price was $312,069 versus $296,717 in December.
The median percentage of the original listed price was 100% in January, continuing a nine-month trend.
Inventory stood at a 0.6 month supply, the same as it was in December. The inventory level was down 77.8% from a year ago.
Those wanting to sell should “know what you’re going to buy, or you could wind up homeless,” Neuhofer said.
QUICK SALES
She said with cash buyers coming to buy in Southwest Florida, homes are being bought up quickly.
The median time to contract for single family homes in Charlotte County was 12 days, and the median time to sale was 57 days — under two months.
But in some cases buyers will offer incentives — such as a higher price — if sellers agree to move in 30 days.
The median time to contract for townhomes and condos was similar — 10 days, and 53 days for the median time to sale.
January saw 671 single family homes about to come onto the market in February, and 119 townhomes and condos.
With St. Patrick’s Day upon us, it would be easy to get caught up in the festivity associated with a day where we all consider ourselves Irish regardless of our heritage. However, with the tragedy unfolding in Ukraine, I would be remiss not to share the life lesson it means to me.
As I’ve grown older, I’ve also mentioned that I’ve become increasingly fascinated and more appreciative of those who fought so hard to give us the freedoms we enjoy today. Through countless articles and documentaries, I’ve tried to envision what it must have been like to be in the heat of the battle and the unquestionable sacrifice and bravery it took to leave loved ones behind and answer the call to serve their country. However, as much as I tried to grasp the intimacy of that experience, once I closed the book or came to the end of that documentary, I was safely home again, and my only scar was the bad dream I had just experienced.
I’m amazed at how fast our world seems to be spinning out of control, and the values we held so dear have been tossed aside as antiquated thinking and no longer relevant. I’ve often prayed that God would get us back on track with some wake-up call before it is too late, and perhaps he finally has gotten our attention.
The tragedy we are seeing unfold in Ukraine is not much different than the story of David and Goliath. Who would ever think a comedian named Volodymyr Zelenskyy could rally his country and harness that resolve into a national battle cry. He sounds more like a character out of a Harry Potter novel, yet this unlikely hero is fighting alongside his fellow citizens against this mighty foe. And who would have thought countries throughout the world would be inspired to set aside their differences and rally around this outclassed nation of people whose only desire is to live in peace?
Restaurants were packed; sports bars were getting ready for college basketball’s March Madness and people were shopping and enjoying life “as usual.” Then came news out of China of a Coronavirus and since then the world has been in turmoil, or so it seems.
So what have we learned from our experiences? Apparently, not much! Instead of looking back to how we overcame Polio, SARS, Ebola, H1N1 (Swine Flu), Aids and Influenza, we have driven ourselves into a panic that is being heightened by the media and the emotional roller coaster inherent in the stock market.
Writer and philosopher George Santayana wrote in his book, Reason in Common Sense, The Life of Reason, “Those who cannot remember the past are condemned to repeat it.” You would think our past experiences would have enhanced our coping mechanisms, but the example we are setting for this next generation is that of panic and hoarding, instead of seeing the opportunities afforded in challenging times and taking advantage of them.
If you were to speak with the likes of Rich Dad, Poor Dad writer, and Entrepreneur Robert Kiyosaki and Warren Buffet, they will both tell you the times we are presently going through are the times that savvy investors wait for and then jump back into the market.
In speaking with Faiza Kedir, Director, Business Development Financial Advisor of the nationally recognized Private Wealth Asset Management company of Lansberg Bennet, she stressed how they are a non-commission based fiduciary, whose sole focus is protecting their client’s investments.
As consumers, we are always in the market looking for good buys and now we are seeing sellers reacting to the market and making price reductions in their list prices.
She is the social director, your biggest cheerleader and oftentimes the team mom. She has a special way of making the home warm and inviting to family and friends, and no one knows how to make the holidays more special than a mom whose decorative touch and holiday dinners are what memories are made by.
.
While most people would like to talk about themselves, Gary and Gail have always put their clients first, and their diverse backgrounds have provided their clients an unparalleled level of service and knowledge throughout the past years.