Real Estate Inventory Shrinking
National and Local Trends Consistent in Decreasing Listing Inventory
Inman News recently released stats from Realtor.com detailing shrinking real estate listing inventory in 10 different metro areas that Realtor.com tracks. Nationally, the number of for-sale real estate listings have decreased a shocking 19.3% from July 2011 to the same time this year, with now a total of approximately 1.87 million for-sale real estate listings currently nationwide. With this significant shrinkage of inventory, a small but consistent rise in median list price, 2.6% from July of last year to last month, has occurred.
Southwest Florida for-sale real estate listing inventory has dropped from 2,712 properties in July 2011 to 1,877 last month, a more than 30% decrease in property inventory. We have approximately 5.3 months of inventory left, meaning given average monthly consumption, there are only just over 5 months until we run out of inventory. Average sale price for Southwest Florida real estate listings has increased from July 2011 to July 2012 by 1.1%, and the average list price for Southwest Florida real estate listings increased from July of last year to last month by 1%. You can view four years of sales and inventory for the Port Charlotte Punta Gorda North Port Association of Realtors Four Year Sale and Inventory History August 2008 – July 2012 here.
All of these statistics show a strengthening Southwest Florida real estate market. If you have been thinking about selling your Southwest Florida home, consider that with Southwest Florida’s tourist season starting up in November, now might be a good time to decide on a realtor to sell your home.
Contact Five Star Realty by phone at 941-637-6116 or by email at email@example.com. You can browse Punta Gorda homes or Port Charlotte homes on our website.