Prices for single-family homes, condos and townhomes in Charlotte County continued to decline in May amid falling inventory levels, as some sellers pulled their listings from the market, according to Cindy Marsh-Tichy, president of Realtors of Punta Gorda-Port Charlotte-North Port-DeSoto Inc.
“By fall, prices will have adjusted,” Marsh-Tichy predicted, pointing to a range of factors putting downward pressure on prices, including elevated insurance premiums, rising HOA fees and continued uncertainty as hurricane season approaches.
Cindy Marsh-Tichy
Single-family home sales showed the smallest decline, with 536 homes sold in May compared to 548 in April. That figure marked a 1.7% increase from May 2024. Condos and townhomes experienced steeper declines, with only 106 units sold in May versus 128 in April — a 20.9% year-over-year decrease.
Median prices dropped, as well. Single-family homes saw the median sale price fall to $325,000 in May from $349,970 in April. Condos followed a similar trend, dipping to $232,998 in May from $251,000 the month prior.
Sellers are also seeing reduced returns. In May, single-family home sellers received 90% of their original list price, down from 92% in April. Condo sellers received 88.2%, slightly below April’s 88.6%. This is a sharp contrast to the pre-Hurricane Ian market, when many sellers were receiving full asking price or more.
Despite some sellers exiting the market, inventory remained high. There were 3,797 single-family homes listed in May — up 21.7% from a year earlier. Months of inventory stood at 8.9, slightly down from April’s 9.5. Condo inventory levels reached 13.6 months in May, a 41.7% year-over-year increase, though still a slight improvement over April’s 14.1 months
Buyers were the clear winners in May, with many paying in cash. Cash purchases accounted for 65.1% of condo sales, although that was down 17.9% from May 2024. Single-family home cash sales represented 37.7% of all transactions, up 1% from a year ago.
Multiple factors influence market activity. Some homeowners who repaired their properties after hurricanes Ian, Helene and Milton are facing rising costs and opting to sell. Meanwhile, many prospective buyers are sitting on the sidelines, waiting to see how hurricane season unfolds. Families with young children may be reluctant to move with the school year beginning in August, which coincides with peak hurricane activity.
Still, Charlotte County’s long-term outlook remains positive. Population growth has been steady. From June 2023 to February 2025, the county’s population rose by 11%, jumping from 201,000 to 224,147, according to Charlotte County Economic Development data. More than 10,994 new housing units were built during that span, with another 17,000 projected through 2030, according to Metro Forecasting Models CEO David Farmer.
Many new arrivals are retirees and remote workers, underscoring the area’s appeal. Marsh-Tichy said a hurricane-free season combined with ongoing migration from colder northern states could help stabilize prices heading into the fall.
