North Port Real Estate Market - View North Port Real Estate Market Trends in Florida

Winter 2012 Market Update If you can qualify, now is an exceptional time to buy a home in North Port. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 941-28-5573 or 941-628-3912.
Average Home Price	$150,000 - View Graph Trend

Average Price Compared to Last Year	Down 5-10%

Average Time on Market	90-120 days

Best Selling Price Range	$100,000 - $149,000

Worst Selling Price Range	$250,000 - $299,000

Prices As % of Asking Price	95-100%

Existing Home Prices for the past 90 days are?	No Change

Market Trend	Decreasing

Buyers’ or Sellers’ Market	More sellers than buyers

Buyer Activity for the past 90 days in North Port is	Increasing

Seller Activity for the past 90 days in North Port is?	No Change

Multiple Offers?	Yes

Multiple Offers Commentary	The Bank owned (REO) listings are often receiving multiple offers. These homes are selling for above listing price. Even some of the short sale properties are receiving more than one offer. There are many cash buyers in the market place right now and they make it difficult for buyers who are financing to compete for the better bank owned properties.

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?	More than 50%

Is Financing Available For Qualified Buyers?	Yes

Housing Inventory	Good supply - Some Prices

Inventory Comments	Currently our local Board of Realtors reports that we have less than a 12 month supply of homes available for sale in our inventory. This is a good sign. Inventory is shrinking which means that prices will soon stabilize and gradually begin to rise again. Many of the bank owned properties are receiving multiple offers and often selling for above listing price. Of course, cash is king, and cash buyers always seem to have the advantage over buyers who are financing. Even the Short Sales are moving at an improved pace. We have many pendings and our closed sales from Jan. thru May 2010 are up 35% over the same time period last year according to a recent report in the North Port Sun Newspaper. North Port's market is not comparable to areas such as Cape Coral, Fort Myers and Lehig Acres which have had a significantly higher decrease in property values than we have seen in North Port. Our homes are selling. No one can really time the market, but our advice is to buy now to get a great deal. Don't wait for the prices to start increasing and the inventory to continue to decrease.

Greatest Activity	Repeat Buyers

Reason to Buy/Sell	Home prices up 1% in June WASHINGTON (AP) – Sept. 1, 2010 – U.S. home prices rose in June for the third straight month amid a burst of homebuying due to tax incentives that have since expired. The Standard & Poor’s/Case-Shiller 20-city home price index posted a 1 percent increase in June from May and was up 4.2 percent from a year ago. Home prices nationally were up 4.8 percent in the second quarter compared with the first quarter, largely due to government tax credits of up to $8,000 that caused sales to surge. Seventeen cities showed price gains on a monthly basis. Prices in Seattle and Portland (Oregon) were flat from a month ago, while prices in Las Vegas fell. Nationally, prices have risen 6 percent from their April 2009 bottom. But they remain 28 percent below their July 2006 peak. Lower prices with good selection and competitive interest rates creates a perfect time to buy in North Port! We have a great location with easy access to I 75 and a reasonable drive of about 30 minutes to Sarasota and 40 minutes to Fort Myers. Our home prices are less that those areas and we have a larger supply of newly constructed homes, many of which have never been lived in.

Nearest Metro Area	Sarasota

Housing Hot Spots	North Port is definitely the housing hot spot for the Sarasota and Charlotte County area. Beaches are only a 25 minute drive.

Average Sold Price	$150,000 - View Graph Trend

North Port Local News

Sluggish housing market in line for a better 2012, according to quarterly survey

The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.

The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.

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