Market Update for January 2010 from Gary Cardillo @ RE/MAX Harbor Realty
January 29th, 2010
The new season has finally kicked off as we are seeing more buyers entering the market. While the start of the season started off a little more gradually than anticipated, there has been a significant increase in sales over last year.
Generally speaking, despite economic conditions that still impact the country as well as our area, a recent CNN article indicated that the general population seems to be more conditioned to our current economic climate. Becky Bovell who is the head of Tourism for Charlotte County, also confirmed the slower start to the season, but did indicate there has been a gradual uptick with the peak season between President’s Day and Easter.
The summer season which has historically been the slowest time of the year for real estate sales, saw more activity which led to a cautious optimism by most Realtors, and it seems to be paying off.
Deep Creek, which is a development just north of the Peace River and located east of I-75 has had 50 homes go into contract and 15 close within the last 30 days. Selling prices have been between $70,000-290,000.00, which shows a diversity within this deed restricted community. While average sale prices have declined from the high in June of 2007 of just over $275,000 to a current average of just over $125,000, sales have been robust.
The boating communities of Punta Gorda Isles and the sister community of Burnt Store Isles have also seen an increase with 39 homes going under contract and 10 closing with an average selling price of $225,000.
With buyers being more deliberate in their research for the best possible buying opportunities, this is encouraging news that the worst economic news may be behind us and that opportunities abound for those looking for a better quality of life, and an escape from the volatility of the stock market.
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