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There was an uptick in April median and average prices for single-family homes in the Charlotte County real estate market despite rising inventory levels. 

According to data from Realtors of Punta Gorda-Port Charlotte-North Port-DeSoto Inc., the median sale price of $390,000 represented a 1.8% month-over-month increase. The average sale price in April was $473,993 compared to $453,752 in March. 

This came amid inventory levels reaching a 7.7month supply, reflecting a 79.1% increase from a year ago. 

Meanwhile, cash buyers remained in the market; buyers in 196, or 37.3%, of the 498 closed sales paid cash. 

Sellers weren’t getting their full listing price; the median percentage of the original list price was 93.4%, down 2.4% from a year ago. 

Different neighborhoods and sections of the county told different stories. 

Amid a slew of price reductions, several canal homes in Punta Gorda Isles, for instance, sold for near or more than $1 million, with newer construction fetching nearly $2 million. 

A recent April sales update for Punta Gorda Isles sent by Realtor Chris Grant of RE/MAX Anchor Realty shows a home on Palm Tree Drive sold for $1.9 million. 

In the past, only open-water homes garnered that amount. 

There were 17 single-family homes sold in April for $1 million or more, the report states. 

Condominium and townhome sale prices were down from a year ago, while the inventory level in April was at a 10.2-month supply. The median sale price in April was $294,999, up from $282,243 in March, but down 11.9% year over year. The average sale price of $313,941 was up from March’s $303,526, but down 20.1% year over year. 

Still, 70.9% of condo and townhome buyers paid in cash. 

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