Charlotte Lures in Buyers of Starter Homes


SARASOTA, FLORIDA, June 21st, 2016 – As residential property prices continue to rise in Southwest Florida, many first-time home buyers are now more inclined towards Charlotte and its Punta Gorda metro area where the median price for single family residences has yet to breach the $200s mark.

Those checking out starter homes in this area, however, will need to move quickly. Prices of Charlotte homes for sale in the highly desirable Punta Gorda metro area are rising too at a fast clip like its neighboring metros.

Buoyant Price Stats

Charlotte Lures in Buyers of Starter Homes

In April 2016, Florida Realtors data showed that resale single family homes in the Punta Gorda Metro rose year-over-year by 19.1 percent to $190,000, following a 12.5 percent gain to $180,000 during the first quarter of 2016.

These uptrends are apace with gains in the MSAs flanking Charlotte County. In the North Port-Sarasota‒Bradenton metro, the April 2016 median home sale price was estimated at $260,000, up 8.8 percent from 2015. This uptick follows the 12.3 percent rise during the first three months of 2016 when the estimated median price hit $255,000 mark.

South of the Punta Gorda metro, the Cape Coral‒Fort Myers MSA saw its median home price rising 4.7 percent to $235,000 in April 2016, which followed an 11.8 percent advance in the first quarter to $203,500.

Demand Gains Steam

Indications are strong that Punta Gorda home prices shall continue their recent strong gains. One tailwind that appears gaining steam is Charlotte coming on its own as a tourist destination, a development that many realtors view as a stimulus to future home buying.

The executive director of the Charlotte County Airport Authority, Gary P. Quill, expects that passenger arrivals at the Punta Gorda Airport (PGD) will hit the 1 million mark for the first time in 2016. Unlike before when these passengers bypass Charlotte for destinations like Bradenton and Naples, a growing number of them are now coming in with the county as their target place to visit, according to John Wright, president of the Punta Gorda Chamber of Commerce.

Sellout Nears at Waterford

Robust sales in a new community in Punta Gorda, Waterford, further indicate too that Charlotte has become prominent on the radar screen of home buyers. During the first six months of 2016, the MLS of Sarasota homes for sale recorded a total of 16 closed deals in this community conveniently located U.S. 41 and I-75.

At this sales clip, Waterford has been reported as nearly half sold out. A gated enclave, this community offers single family homes in four distinctive floor plans of between 1,670 and 2,320 square feet designed with three to four bedrooms. Also featuring two baths and a two-car garage each, these home choices are priced starting in the high $100s, at par with the current median price of Charlotte homes for sale.

Many of Waterford’s home sites offer superb views of verdant preserves and serene lakes. The community’s monthly HOA fee is relatively low and covers automatic irrigation and maintenance of the professionally designed landscaping of each home. Community facilities include a resort-style pool, a pavilion, and recreation area.

Waterford’s location is off Airport Road just west of PGD and is also a short distance east of Charlotte High School. It is also only minutes away from Punta Gorda’s downtown and the city’s revitalized waterfront. This popular area offers plenty of life and leisure facilities that boost market interest in Charlotte homes for sale, affordable especially to the first-time buyers.