It is a great time to buy. There is a tremendous selection. Sellers are willing to negotiate, and interest rates are still low. The North Port inventory seems to be holding fairly steady.
Now that the prices have dropped significantly, more and more buyers are realizing that this is the bottom of the market. We personally have been very busy with buyers. With so many choices, the buyers are thoroughly searching for the bargains. All our buyers are willing to spend more until they come here and find out they can spend less for what they want.
The re-sellers are having a difficult time competing with the builders' incentives on new homes right now. Builders want to move that inventory and get on to building homes so many are even using the services of real estate agents to unload inventory.
Short sales and foreclosures are increasing rapidly in the market and will likely continue to be a force for several months.
So far it's about the same picture for June, but many closings occur at the end of each month, so we will wait a few days for everyone to close out listings before we begin to compile the June report.
Dry lots in North Port are selling for $10,000 to $24,000 generally. 28 sold in May out of over 2000 for sale on the MLS. That's 1-2% of those on the market.
There are 1594 properties for sale in North Port, Florida in the MLS. The number of available properties is up 1 from last month. 558 of the active listings are brand new, 2006-2007. This number has increased by 4 properties since last month.
In the past 30 days May 1-31, 59 properties went pending. 17 of the pending listings are brand new, built in 2006-2007. 2 fewer properties went pending this month than last month.
Looking at the pending properties, 7 have a listing price of -$150,000 or less.
27 of the pending properties have a listing price of between $150,001-$200,000.
7 of the pending properties have a listing price of between $200,001-$225,000.
5 of the pending properties have a listing price of between $225,001-$250,000.
2 of the pending properties have a listing price of between $250,001-$275,000.
4 of the pending properties has a listing price of between $275,001-$300,000.
7 properties have a listing price of $300,001 or more.
Using the same time frame, 53 properties closed. 11 more properties sold last month than this month. 9 of the sold listings were brand new, built in 2006-2007. The number of brand new listings sold has declined by 16 homes. Last month 2.13 listings sold per day, this month 1.7 listings sold per day.
Looking at the sold properties, 13 have a listing price of -$150,000 or less.
21 properties sold between $150,001-$200,000.
2 properties sold between $200,001-$225,000.
8 properties sold between $225,001-$250,000.
3 properties sold between $250,001-$275,000.
1 properties sold between $275,001-$300,000.
5 properties sold for $300,001 or more.
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Looking for property in North Port, Port Charlotte, Punta Gorda, Englewood and the surrounding areas, visit any of our websites at http://www.twomoores.com/