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SALES STATISTICS FOR AUGUST 2006

By Jim Mulligan (941-456-3034) and Andy Leonard (941-662-0033), Licensed Real Estate Brokers
Selling and Buying Homes in Port Charlotte and Punta Gorda, Florida. To search the MLS click the link above. September 8, 2006

Search the Southwest, Florida MLS

SALES STATISTICS FOR AUGUST 2006

On September 8, 2006 there are currently 5,637 single family homes listed for sale in the Punta Gorda, Port Charlotte, North Port MLS. This area stretches from Venice in the north to Punta Gorda in the south and Englewood and Rotonda in the west to the east end of Charlotte County.

In Port Charlotte and Punta Gorda ONLY there are 2938 homes listed.

During the month of August, 2006, we have seen a steady decline in the price of homes sold in out area. I base this on a study of “standard homes” sold during that month. I define a standard home as the most popular, 3/2/2, 1500 – 2000 s/f home.

In the Punta Gorda, Port Charlotte areas ONLY, (All Punta Gorda, Port Charlotte: P-Sections 101 – P 124) according to the MLS, there were 175 standard homes (3/2/2, 1500 – 2000 s/f) actively listed for sale. This eliminates all the two bedroom homes, all the very small and very large homes and homes on acreage. It only studies the standard, most popular home in the area. I feel this gives a benchmark on what prices are really doing.

Sales in August, 2006

Standard Homes Closed Sales August 1 – 31, 2006, Port Charlotte and Punta Gorda, median sale price:

3/2/2, 1500 – 2000 s/f, w/pool $252,500 (11)

no/pool, $195,000 (14)

When one looks at all homes sold in the area, regardless of size or features, there were 110 non waterfront sold, median price of $175,000. All including waterfront, 126, median price $185,000. Of the 16 true waterfront homes with gulf access, the median price was $480,000.

What these stats do not show is that many of these sales only occurred because the sellers and buyers negotiated a price far lower than the asking price. Homes priced correctly for the market sold in under one month, very near the asking price. There are buyers out there, they are simply aware that there are many properties from which to choose and they are being very careful about their offers.

Realtors in Port Charlotte and Punta Gorda must understand the market and help their buyers and sellers to get a fair price in this difficult market. Realtors are responsible to their customers. Realtors must give good advice and work hard to get their customer the best deal. However, it is irresponsible and unethical for a realtor to “buy a listing”, that is, to assure a seller that the realtor can get an unrealistic price for their property in order to secure a listing contract.

Your Suncoasteam guarantees your satisfaction with our services. If you list your home with your Suncoasteam, you may cancel that agreement at your discretion with 24 hours written notice. We will never lock you into a contract. If you are not happy with our services, we do not deserve your business.

Sellers – Know what your home is worth in today’s market. Click here for a FREE, NO OBLIGATION MARKET ANALYSIS of your Southwest Florida Home.

Questions questions@suncoasteam.com

Or call Jim (941) 456-3034 or Andy (941) 662-0033