What does this mean for you?         Sales at the Lakes are slow … steady, but slow.  Prices do appear to be stabilizing, at a price point approximately 9% less than last year, and interest rates are at historic lows.  Therefore, this is a very favorable time to sell or buy your home, provided it is priced competitively.   [...]

North Port is on the rise.  These are the highlights:

Average Sale Price vs. Average List Price

All Properties:

• The average sale price for all properties (distressed and non-distressed) was $104,000 in September 2011, 15.6% higher than the same month one year ago, when it was $90,000.  In fact, the trajectory has been on an upward trend
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If current conditions are a precursor for future events, it appears that the real estate market in Venice is stabilizing.  The above chart shows home sales in Venice for the past twelve months.  These are the highlights:   [...]

Year to Date Snapshot Thru August 31, 2011 Pelican Pointe is in a recovery mode.  The above chart shows home sales at Pelican for the past twelve months.  These are the highlights:

• The number of homes for sale keeps dropping; it dropped 4.8% from last month; and 32% from January.  As of August 31^st there are 40 homes for sale.
• New
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Inventory in North Port is low.  At the end of August 2011, there was only a 4 month supply, down from a readjusted 4.5 month supply in July.  A 6 month supply is considered “neutral”, i.e., a fairly balanced market between sellers and buyers. There were 548 homes for sale on August 31, 2011, 37% less homes for sale than the 868 [...]

It is encouraging to report that in Venice (zip codes 34285, 34292 & 34293) there continues to be a significant improvement in the sale of homes from the same period last year.  There is currently a 7.2 month supply, basically the same as last month’s 7.1 month supply; this represents a 100% drop, “improvement” from last year --- a [...]

On July 2011 there was a 4.7 month supply of inventory in North Port.  Although modestly higher than the 4.1 supply reported last month, inventory remains low.  A 6 month supply is considered “neutral”, i.e., a fairly balanced market between sellers and buyers. As of July 31, 2011, there were 563 homes for sale.  In July 31, 2010, [...]

In July 2011 there was a 7.1 month supply of homes for sale in Venice (zip codes 34285, 34292 & 34293).  Although higher than the 6.4 month supply in June, July showed a significant improvement over the 11.2 month supply from the same period last year.  A 6 month supply is considered a fairly balanced market between sellers and buyers. [...]

The overall inventory of properties available for sale in Pelican Pointe, a subdivision of over 1,200 homes, has declined significantly since the end of last year, when the months of inventory was in the double digits.  Currently, there is a 7.5 month supply of inventory, and 45 homes for sale. Further, over the last 4 months the inventory [...]

My article summarizing the state of North Port’s real estate market for June 2011 was quoted in a recent Herald-Tribune article by Michael Braga. Here is the indtroduction and a link to [...]