The president of an area Realtors association said although there was a small uptick in Charlotte County home sales in December, the future for a robust market depends on lower mortgage interest rates and the cost of insurance.
“I’m hopeful the market will improve,” said Cindy Marsh-Tichy, 2025 president of Realtors of Punta Gorda-Port Charlotte-North Port-DeSoto. The Coldwell Banker Sunstar broker noted that unless mortgage interest rates decrease and homeowner and flood insurance prices become more affordable, they will be barriers for would-be buyers.
Cindy Marsh-Tichy
After December’s 418 closed sales for single-family homes, an increase of 97 sales from November’s mark, the market “is pretty flat,” she said.
Area agents attributed December’s rise to buyers seeking to establish their homestead status before the beginning of the new year. Despite recent hurricanes, Marsh-Tichy said “people do still want to live here.”
In Charlotte County, the inventory level for single-family homes rose from 3,233 in November to 3,361 in December, boosted by 637 new listings and 399 pending listings. A number of homes were put on the market after they were flooded and repaired following hurricanes Helene and Milton.
December’s monthly inventory rose to 7.9 months, versus 7.7 months in November. Inventory levels of six months or more constitute a buyer’s market.
December’s median sale price for single-family homes was lower than in November — $342,000 versus $349,950 — and December’s average sale price was $396,655, compared to November’s $407,990.
Sales of condos and townhomes also increased in December to 72 units sold.
Unlike single-family homes, the median and average sale prices were higher in December for townhomes and condos. The median price in December was $279,920, compared to November’s $250,000, and the average price was $278,750, while November’s was $269,816.
Inventory levels for condos and townhomes rose to 11.4 months. There were 951 units in December’s inventory and 151 new listings with 72 pending.
