A hurricane season without a single landfall and renewed interest from out-of-state businesses may help fuel Southwest Florida’s real estate activity this season, according to local analysts and industry leaders.
Shelton Weeks, Lucas Professor of Real Estate at Florida Gulf Coast University, said conversations with real estate professionals in recent weeks have revealed an optimistic picture of what could be ahead for the region. That outlook is being influenced, in part, by trends developing far beyond Florida.
Weeks said some New York City business owners are evaluating whether to move their corporate headquarters to Florida. New York, one of the world’s major financial centers, is navigating what Weeks described as political uncertainty following the mayoral election of Zohran Mamdani. Wall Street remains unsure of how the incoming administration’s policies will affect the city’s business climate, prompting some companies to explore relocation.
At the same time, residents who previously hesitated to move to Florida because of hurricanes or high homeowners’ insurance costs are taking a fresh look. Weeks said homeowners he has spoken with recently reported securing better insurance deals and negotiating lower premiums, a shift he believes could influence buying power.
Lower premiums are coinciding with declining interest rates and proposed legislation in Tallahassee that would provide property tax relief to homesteaded residents. Together, those changes could open the door for buyers who have been priced out of the market.
“If a person has a $3,000 monthly budget for housing and related costs, lower insurance and interest rates could allow for the purchase of a more expensive home,” Weeks said. That increased purchasing power could help push prices higher.
Local Realtors are already seeing signs of shifting dynamics. Cindy Marsh-Tichy, president of Realtors of Punta Gorda-Port Charlotte-North Port-DeSoto Inc., said cash transactions rose year over year. Last October, the county logged about 119 cash sales; this October, 140 of 461 single-family home transactions were paid in cash, representing 30.4% of closings.
Charlotte County remains a buyers’ market, with 6.9 months of single-family home inventory. Marsh-Tichy said conditions typically transition to a sellers’ market once inventory falls below six months. Punta Gorda showed slightly tighter supply, at 6.2 months.
Shelton Weeks, Lucas Professor of Real Estate at Florida Gulf Coast University, has been tracking signals of renewed momentum in Southwest Florida’s housing market.
Florida Gulf Coast University
September and October each posted 6.9 months of inventory, the lowest level in a year. The median sale price of single-family homes in Charlotte County rose to $342,000 in October, up from $330,000 in September. Sellers received 92.6% of their original listing price, compared with 91% the month prior.
The start of tourist season also accelerated transaction timelines. Homes spent an average of 105 days on the market in October, down from 125 days in September. More homes came online as well: inventory increased to 3,048 active listings, up from 2,984 in September.
Listings were most concentrated in the $300,000 to $399,999 range, followed by the $400,000 to $599,999 segment. A total of 226 single-family homes were priced at $1 million or more, marking a 42.1% year-over-year increase.
Townhome and condo activity continued to show signs of weakness. Inventory rose to 9.7 months in October, up from 9.4 months in September, although closings improved. The median sale price increased to $235,000, compared with $215,000 the previous month. Sellers received 88.9% of their original list price, up from 86.2% in September.
Local Realtors expect activity across all segments to increase as seasonal residents and visitors return in greater numbers through early spring.