| What's New in Punta Gorda? |
| Call Lise Johnson
800-788-1203-O
941-637-6116-O
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Five Star Realty
Your Hometown Realtor
MAY 2011
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Hello!
More positive real estate news! This week Realtor.com announced that 2 Florida metro areas were tops on the median list price increases study. This study was nationwide and covered a year to year time frame. They were Ft. Myers at 25.7 % increase and Miami at 8.6%. The Ft. Myers and Miami areas also had the largest year to year drop in inventory. Ft Myers dropped 25.3% and Miami dropped 29.9%.
See the chart below for more details!
If you need any area or real estate information, please give me a call! Hope you had a great Holiday weekend! Lise |
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March-April Statistics
Punta Gorda-Pt. Charlotte
Below are numbers sold each month, and prices are average. Total Units Homes Home Avg $ Condos Condo Avg $
March 383 303 $134,494 80 $110,119
April 340 277 $128,410 63 $130,003
The total units sold number was lower, but still a healthy number from March to April. This typically will drop as there are alot more people around in the winter months.The average sales prices for homes showed a a slight decraese from March, but people were definitely buying more expensive condos as the average price was up. Two homes closed over $500,000 ,and seven closed in the $400,000 to $499,000 range which was up from three in March in the $400,000+ range . There were 232 cash sales vs. 108 varied types of financing. More people went for conventional loans this month. If you are doing owner financing, always check a Buyer's credit-think like a bank!
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Areas with Rising Real Estate Prices
Information below courtesy of Realtor.com
| Median List Prices | Median Age of Inventory | | | $ | % yr.-over-
yr. change | # days on site | % yr.-over-
yr. change | | United States | $191,900 | -4% | 95 | 13.1% | | | | | | | | Fort Myers-Cape Coral, Fla. | $225,000 | 25.7% | 116 | 8.4% | | Miami | $239,000 | 8.6% | 129 | 14.2% | | Shreveport-Bossier City, La. | $173,000 | 8.1% | 73 | 28.1% | | Washington, D.C.-Md.-Va.-W.Va. (Va.) | $369,900 | 6% | 57 | 14.0% | | Columbia, Mo. | $168,000 | 5.1% | 60 | 0.0% | | Peoria-Pekin, Ill. | $144,900 | 3.6% | 82 | 17.1% | | Fort Collins-Loveland, Colo. | $249,900 | 3.5% | 82 | 10.8% | | Anchorage, Alaska | $289,000 | 3.3% | 60 | 39.5% | | Charleston, W.Va. | $159,900 | 2.9% | 82 | 32.3% | | Tyler, Texas | $200,000 | 2.6% | 91 | 15.2% |
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Local News
PUNTA GORDA AIRPORT
The Punta Gorda airport is preparing for more growth that can be seen in construction of it's first control tower and the proposal to double the size of the terminal. The plan is to enlarge the terminal from 19,000 sq. ft to 40,000 sq. ft, at a cost of $2.5 to $3.5 million. Funding would come from the Fl. Dept. of Transportation and FAA grants.
The land surrounding the airport will also hopefully bring an economic boost to Punta Gorda. There is an area within the airport boundaries which is designated a Foreign Trade Zone. There are only 10 of these zones in the state. This area gives US-based companies that engage in foreign trade, business incentives. There are 7 companies currently in the zone that are taking advantage of this and room for more!
VACANT LOT MOWING
For those of you who own vacant lots in Punta Gorda Isles, the City approved a mowing budget of $112 which includes 13 cuts and 3 trims- for 2012- no price increase!
BAL HARBOR CONSTRUCTION
A contract for street, water and sewer improvements on Bal Harbor was approved and will take 8 months to complete. Bal Harbor will be completely re-surfaced and a 2 ft shoulder for bike traffic, as well as a right hand turning lane for traffic coming north and turning east on Aqui Esta, will be put in place.
MUSIC ATTRACTION FOR MURDOCK VILLAGE ?
Resident Jay Goldberg, a former rock and roll promoter has come up with an idea for a music district , named Main Stage to promote theaters and entertainment in the Murdock Village Corridor. The district would be similar to Branson, Mo. and City Walk in Orlando. The area would be situated on about 110 acres and would border a guitar shaped lake with a ride traversing the guitar on the guitar strings. The $100 million dollar project would have the potential to create 6800 jobs. The county is excited about the plan although the project is in the discussion stages. If the waterpark comes to the area,
this would be an added incentive for development.
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Real Estate Forecast
Lawrence Yun, chief economist with the NAR , forecasts an uptrend in sales though 2012 , with a few bumps in the road due to the mortgage restraints that are currently in place. He thinks mortgage rates will rise to about 5.5% by the end of the year and possibly 6% in 2012. Cash sales have been up,supported by the increase in the stock market. |
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