Here’s a quick overview of important real estate highlights in our area:
1. Number of Single-Family Homes and Condos sold: Our local, wonderful Realtors of Punta Gorda-Port Charlotte-North Port- DeSoto, Inc. reports that there were 549 sales in the month of September, in our COVID environment. This data reflects home sales for Punta Gorda, Port Charlotte and North Port.
2. Inventory of Single-Family and Condo Homes: The Realtor association reports that inventory continues to be down. As of Sept. 30, 2020, there were 1,066 homes available for sale, which represents just two months of inventory. This is the lowest level of inventory in our area I have ever seen.
That low level of inventory creates opportunity. Please contact your local Realtor for details on how this can benefit you.
3. New Construction: Thanks to the fabulous Charlotte DeSoto Building Industry Association and our wonderfully transparent Charlotte County Community Development Department, we have the following update:
a. Local Charlotte County Single Family Permits: Despite COVID and lower activity in April and May, year-to-date, permits are up 25% over last year.
b. For the Fiscal Year Ending Sept. 30, 2020, the overall number of permits issued for Charlotte County totaled 32,037, an increase of 11% over last year. These permits represent a cumulative value of improvements totaling $1,107,367 – that’s over $1B!
c. Remember – always hire a licensed contractor, and if you need a referral, check out CDBIA.com.
d. Thank you to the Charlotte County Community Development and Donna Barrett for sharing this information
4. Recent Commercial Real Estate Transactions: There were too many recent transactions to list them all. Below is just a sampling:
a. 1225 Tamiami Trail, Unit A6, Port Charlotte, sold for $130,000 in October 2020
b. 2395 Tamiami Trail, Unit 102, Port Charlotte, sold for $145,000 in September 2020
c. 133 W Marion Street, Punta Gorda, sold for $301,100 in October 2020
d. 209 W. Olympia, Punta Gorda, sold for $750,000 in September 2020
e. 1264 Market Circle, Port Charlotte, sold for$1,550,000 in October 2020
f. 4264 Tamiami Trail, Port Charlotte, sold for $7,100,00 in September 2020
Thank you to Paul Polk and his team at the Charlotte County Property Appraiser for the transparency in reporting this information.
While nationally and locally, we are working and living with COVID, it’s comforting and encouraging to continue to see opportunities and confidence in our local real estate market.