Charlotte County home prices, profits fall amid buyer’s market

The Punta Gorda Metropolitan Statistical Area, which encompasses all of Charlotte County, saw one of the steepest year-over-year declines in home sale prices and profit margins in the country during the second quarter, according to a report released July 24 by national real estate data firm ATTOM.

The median home sale price in the Punta Gorda MSA fell 8.6% compared to the same period in 2024, tying with Crestview for the fourth-largest decline in the U.S. Only North Port-Sarasota (down 12.1%) and Cape Coral (11%) had greater losses.

ATTOM’s report also showed that Punta Gorda ranked No. 4 among U.S. markets with the lowest profit margins on home sales. The area’s median profit margin fell from 79.5% to 58.9% over the past year. Naples followed closely, with profit margins dropping from 72.6% to 52.4%.

The nation’s largest declines in profits occurred in Ocala (down from 97.6% to 61.8%), Knoxville, Tennessee (from 105.8% to 81%), and Sarasota (from 70% to 47.9%).

The report shows the national median home sale price hit a high of $369,000 in the second quarter, $19,000 more than the previous quarter and $10,000 above the previous high of $358,976 posted in the third quarter of 2024. Despite higher prices, the national median profit margin dipped year over year from 55.6% to 50%, but a marginal increase

over the 48.9% national median profit margin posted in the first quarter of 2025.

Charlotte County home prices are in a correction phase after what Realtors call “the cowboy market” of the pandemic years, when many northerners moved to Florida’s southwest coast, said Cindy Marsh-Tichy, president of Realtors of Punta Gorda-Port Charlotte-North Port-DeSoto Inc.

“The market is pretty stagnant; this happens every few years,” she said, but offered glimmers of hope to sellers. She suggested that although it’s a good time for buyers, sellers may want to hold off until prices begin to rise again.

June’s market analysis for Charlotte County, provided by Realtors of Punta Gorda-Port Charlotte-North Port-DeSoto Inc., show the market is truly a buyer’s market with inventory levels of 8.3 months for single-family homes and 12.7 months for condos and townhomes.

Sellers have been lowering prices, and in June, single-family homes sold for 89.5% of their original asking price, down from 90% in May. Condos and townhomes sold for 86.2% of their original list price, down from 88.2%.

Despite rising inventory, median prices inched upward in June. The median sale price for single-family homes rose to $335,000, up from $325,000 in May. Condos and townhomes reached a median price of $235,000, up from $232,998.

Still, the oversupply continues to put pressure on prices and profits, keeping the market tilted in favor of buyers for now.