Why More Home Buyers Are Flocking to Charlotte


SARASOTA, FLORIDA, October 19th, 2016 – More home buyers appear gravitating towards properties in Charlotte County, recent monthly data from Florida Realtors© show. Sales of single family homes in August at the county’s Punta Gorda metropolitan statistical area rose 12.5 percent, the second monthly gain recorded this year after a 3.6 percent advance in June.

In contrast, August sales in neighboring Sarasota and Manatee registered a 1.7 percent decline, reflecting a sustained downtrend in total single family homes sold in the North Port‒Sarasota‒Bradenton MSA since the start of the year.

Soft House Prices in Rising Economy

Why More Home Buyers Are Flocking to Charlotte

Relatively softer prices of Punta Gorda homes for sale drive the sales uptick in Charlotte. Though median sale prices of single family homes in the county rose by 12.5 percent to $197,000 in August, this level remains well below its neighbors. In comparison, the median price in Sarasota‒Manatee estimated at $262,950 for the month was up 5.2 percent from a year earlier. Statewide, the August median price was estimated at $225,000, which was 12.6 percent over last year.

A fast-rising local economy is likewise providing strong tailwinds for Charlotte homes for sale. The county’s economic takeoff has been manifested in the sharp rise of commercial building permits in 2015, nearly doubling those granted the prior year.

Much of the business and commercial activity have been spurred by more locators finding their way to the county’s newly established enterprise zone. This development-friendly area is located on a 4,000-acre site around the Punta Gorda airport park.

More Employment Prospects

Cheney Brothers Inc., a major food distributor in the Southeastern U.S., is one of the major firms which set up shop in the enterprise zone recently. Based in Riviera Beach, this company has already brought in 380 new jobs in its 250,000-square-foot distribution center on 35 acres off Interstate 75.

Plans are also moving forward on the local establishment of a satellite campus of the Western Michigan University (WMU) for its college of aviation. Florida’s Commission for Independent Education has already approved the provisional license for allowing WMU to offer aviation and several other high-profile academic programs in Charlotte as well as in Hillsborough County.

A vacant building at 26300 Airport Road in Punta Gorda is the proposed site of the aviation college. WMU space at the Punta Gorda Airport is likewise an added option.

Airport a Growth Catalyst

The main engine for Charlotte’s economic growth, the Punta Gorda Airport, continues to contribute its share, with the recent $9 million expansion of its terminal. This October, the airport will add a second commercial carrier, Frontier Airlines, which will offer nonstop flights to Chicago O’Hare, Philadelphia, and Trenton, New Jersey. This airline will join Allegiant Air, which already flies to 24 cities to and from Punta Gorda.

A residential community just a short distance west of the airport, Waterford Estates, stands to draw increased market interest with these Punta Gorda developments. More so that some Charlotte homes for sale in this property are attractively priced around the ballpark of the current median home price in the county. These include two new constructions featuring three bedrooms and two baths within a floor area of 1,672 square feet. Sales-listed at the high $100s, these are attractively priced homes that should help draw more prospective buyers to Charlotte.