Compared to the last couple of years, the real estate market may seem to be very quiet, but it is really just more of a return to the normal ebb and flow of the real estate market. Our busiest times of year have always been from January through March/April with September and October typically a bit more quiet. Compared with the Covid era, it is a stark comparison, but we are pretty much back to our normal market in terms of our out of state visitors. Since the beginning of the year, when compared to the same time from January through the end of August of the previous year, Charlotte County did experience over 15% fewer homes being sold, but those decreases only accounted for an approximate 5.00% decrease in the overall price of a home. On the other hand, condominiums prices in Charlotte County rose slightly by 2.70%.
In the boating and golf communities of Punta Gorda Isles and Burnt Store Isles, there were over 25% fewer homes sold through the end of August, but the average selling price only decreased by 6.00%. Condominiums in the same area also had fewer sales with the average selling price dropping by 10%.
While Sarasota County’s average selling prices stayed pretty consistent from the previous year, overall this year’s comparative figures are skewed by inflation and higher interest rates. Someone financing a home this year compared to interest rates during the pandemic are going to have significantly higher mortgage payments. With the “panic buying” that went on during the pandemic now being a thing of the past, buyers today are going to factor in the higher interest rates and costs involved in remodeling a home. The end result is list prices ae going to have to become more realistic to attract buyers, or sellers will have to be more willing to accept lower purchase offers than they did during the past few years.
Does this mean our market is in trouble? If you are looking for some encouraging news and take a look at all the large tracts of land being developed, and the big box stores continuing to expand their presence in the area. Coupled with the political climate and high cost of living up north, we may experience some market adjustments, but overall our cost of living and quality of life will insulate us from those downturns better than most.



Almost two years ago, my wife signed us up as members of St. Andrew’s South Golf Club, as it occurred to her I was spending too much time sitting behind a computer or working late into the evening, and my only outlet was doing yard work. Somewhere along the way, I became my father! I wasn’t doing anything fun in my spare time. Try explaining that to someone who spends half their year bundled up during the winter months, and they’ll think you lost your mind when you live on the water and close to a host of golf courses. Sure, there are more challenging courses than St. Andrews; for years, when asked why I didn’t join, I would tease and tell them that due to the relatively flat terrain of the course, that’s where they used to host the areas Greyhound races. Now before you think, “This guy must be some golfer,” let me tell you this course has gotten the better of me in more ways than one. While St. Andrew’s South may not be hosting the U.S. Open anytime soon, this club is second to none in terms of the people we’ve met and the friends we’ve made.
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.