Punta Gorda New Home Construction
Ken Poirier
Local builders are cautiously optimistic with 2010 building permits up over 2009 levels. Southwest Florida and the Punta Gorda area have endured a steep slide in new construction for the past 4 years. New building permit for Punta Gorda are looking up with 24 issued in the first 10 months of fiscal 2010 verse 12 for all of 2009. Hopefully the long painful drought in new building construction has ended; signaling a return of normal market conditions.
This good news is certainly welcome however many remain guarded on their view of future growth. Inventory levels for all single family residence remain historically high, averaging 13 month supply, health real estate markets typically average 6 months. Homes priced from 500k to 600k currently show inventory levels 20 to over 36 months. By any measure homes for sale of this caliber remain entrenched in a buyer’s market.
Builders say they have worked aggressively cut back prices to a point they can present a good case to buy new verse used, sighting benefits that only a new home can deliver. Such as, utilizing the latest up to date features/designs, materials, employing current building codes resulting is a better overall value. The ability to customize a new home and future resale value rank high for customers when considering building new.
So where do we go from here? Clearly the trend continues upward for both sales of existing homes and new construction, undeniably a positive sign. Most continue to agree on one thing that while the overall market is fragile, the promising results of late continue to send signals that the market has stabilized and most likely bottomed. One thing is certain the year round beautiful weather perfect for boating and golf position Punta Gorda, Port Charlotte and North Port for strong sales especially once the northern states housing market returns to traditional levels, affording more buyer’s to purchase their piece of paradise.
To learn more about the incredible real estate values in Punta Gorda, Port Charlotte and North Port please visit Local builders are cautiously optimistic with 2010 building permits up over 2009 levels. Southwest Florida and the Punta Gorda area have endured a steep slide in new construction for the past 4 years. New building permit for Punta Gorda are looking up with 24 issued in the first 10 months of fiscal 2010 verse 12 for all of 2009. Hopefully the long painful drought in new building construction has ended; signaling a return of normal market conditions.
This good news is certainly welcome however many remain guarded on their view of future growth. Inventory levels for all single family residence remain historically high, averaging 13 month supply, health real estate markets typically average 6 months. Homes priced from 500k to 600k currently show inventory levels 20 to over 36 months. By any measure homes for sale of this caliber remain entrenched in a buyer’s market.
Builders say they have worked aggressively cut back prices to a point they can present a good case to buy new verse used, sighting benefits that only a new home can deliver. Such as, utilizing the latest up to date features/designs, materials, employing current building codes resulting is a better overall value. The ability to customize a new home and future resale value rank high for customers when considering building new.
So where do we go from here? Clearly the trend continues upward for both sales of existing homes and new construction, undeniably a positive sign. Most continue to agree on one thing that while the overall market is fragile, the promising results of late continue to send signals that the market has stabilized and most likely bottomed. One thing is certain the year round beautiful weather perfect for boating and golf position Punta Gorda, Port Charlotte and North Port for strong sales especially once the northern states housing market returns to traditional levels, affording more buyer’s to purchase their piece of paradise.
To learn more about the incredible real estate values in Punta Gorda, Port Charlotte and North Port please visit paradiseinpuntagorda.com! or contact Ken Poirier via email at ken@paradiseinpuntagorda.com or call 941-661-9773.
Ken Poirier is a local Punta Gorda, Fl Realtor and resident specializing in the waterfront communities of Punta Gorda. For Punta Gorda Real Estate information, contact me directly at (941) 661-9773 or visit http://www.paradiseinpuntagorda.com
