We continue to see softness in the Real Estate market. The inventory in the local MLS continues to creep upward with very little sales activity. What is noticeable about the properties that are selling is that they are 'sensibly' priced. The frantic sales pace of two years ago is a distant memory.
Buyers are able to turn the clock back several years and it really is a great time to buy property in the area because, quite frankly, it is a bargain at this time. Charlotte county in general and Deep Creek in particular has always been some of the most reasonably priced property on the southwest Gulf Coast. Right now this is truer than ever.
Long term the prognosis for property in this area is excellent. The demographics are compelling. A continuous influx of new residents - mostly retiring (and deep pocketed) baby boomer's with an ever increasing proportion of younger families seeking the 'Florida lifestyle'.
Currently prices are off substantially from the highs of two years ago, though it's taken them that long to start falling. I believe prices will continue to decline over the next year producing some great buying opportunities for both investors and prospective homeowners. But, as in the stock market, trying to time the market could mean being left behind when the market does turn. Caveat emptor!
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