The newly elected president of the Realtors of Punta Gorda-Port Charlotte-North Port-DeSoto Inc. said Charlotte County’s residential real estate market has picked up in the new year and projected a strong outlook for 2024.

Leanne Walker

“We are seeing relocation from all over the country,” Leanne Walker said. “[December’s] supply of inventory, as well as the average days [homes spent] on the market indicate the market is more balanced.”

There was a 6.8-month supply of single-family homes and an 8.4-month supply of condos and townhomes in December. The $363,750 median sale price of single-family homes in the county was lower in December than the previous month.

There were 2,675 active listings in December, a 128.4% year-over-year increase.

Despite the inventory buildup, sales were up 27.9% year-over-year, and the dollar volume, or total or sum of the sales prices of all transacted homes in December was up over 31% for the year. Due to the stockpile of inventory, it took longer for homes to sell, with the median time to sell increasing 99 days.

Sellers continued to receive less than their original asking price. In 2021, many buyers were meeting original listed prices or offered more during bidding wars for some properties. However, in December, sellers received a median 94.9% of their original asking price.

A total of 352 single-family homes and condos sold in December with most in the $250,000 to $349,999 range, according to data from Realtors of Punta Gorda-Port Charlotte-North Port-DeSoto Inc.

There were 13 Charlotte County homes in December that sold for more than $1 million.

In 2023, a total of 3,833 single-family homes and villas sold.

In December, 36.5% of single-family home purchases and 36.6% of condos and townhome purchases were made in cash.