Charlotte County home prices soften, experts predict rebound

Author: Nancy Semon, Gulfshore Business
Published: Updated:
(Credit: Getty Images)

The median price of single-family homes in Charlotte County continued to soften in July, but real estate experts said there is no cause for alarm and expect the current market correction to stabilize with a return to an upswing forthcoming. 

The median sale price was $355,000, down from Juneā€™s $365,000, for 450 closed sales, a 16% year-over-year increase. Meanwhile, there was a 7-month supply of inventory in July. 

Leanne Walker, president of the Punta Gorda-Port Charlotte-North Port-DeSoto Realtors Association, said the local market is ā€œa small pocket.ā€ While sales have dropped and inventory is higher, she said July through September are traditionally slow months due to hot weather.Ā Ā 

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