Is the Market SCARY in Oct. 2023?
Last night while watching the news the weather man said the most amazing thing, we are headed for a cool front with less humidity! YAY! Fall is here in Florida and our temperature will be dropping into the mid 80’s. We have plenty of sunshine and warm days and the “swamp” season of summer has passed. This week I planted some fresh flowers and planted my tomato and jalapeno pepper plants. I discovered many years ago that planting my vegetables in the Fall is the way to go in Florida. Tending to my garden this year has been extra special because last year we were doing clean-up after hurricane Ian terrorized this area. It felt good to be in my garden, it has always been a happy place for me.
October is special in Florida, the weather begins to change a little and our snowbirds have not yet returned. So, life along the Gulf of Mexico has little stretch of time to enjoy the sunshine state before our friends from up North arrive and add to the fun. One of the fun events in Venice that takes place every October is the Sun Fiesta put on by the Women’s Sertoma Club of Venice. It is a weekend of fun, food, festivities and fundraising to benefit local charities and scholarships. A highlight is on Saturday morning called "Bed Races". Local businesses and clubs build a bed and then race it down the street and do silly antics along the race route. It is hilarious to watch! Ray is an emcee for the event. Coldwell Banker has a bed race team. Also, Coldwell Banker will have a booth and Ray and I will be working the booth Saturday from 4:00-7:00. So, come to downtown Venice on October 20,21,22 and enjoy all the fun. Click to get details of the SUN FIESTA
Fall brings festivities and temperature drops. So is Fall also bringing lower real estate prices or mortgage rates? Well, no. But prices are not flying up like a witch on her broom either. They are just staying steady. Remember how in previous newsletters I showed you the scary click bait real estate headlines saying the market is going to crash? Hmmm seems news media is changing their mind- check out this article and the click bait title Home Prices are Soaring There are a few hot pockets around the country where the markets are seeing prices continue to rise. But, around here we are seeing prices mostly remain steady. Sellers are still getting about 98% of their list price and Buyers who are financing are able to have offers accepted. Inspections and repairs are being negotiated. Buyers usually have time to think about making a decision on a house. The average days on the market at most price points in most areas is just over 30 days.
Real Estate Market Articles:
Smart Ways to use Storage
Great Article on What the Heck Is Title Insurance
What can Buyers do to help themselves with Interest Rates
Stats and Data for October 2023
Last month we started a new trend of looking at specific areas for our monthly Stats and Data section. So, let's keep that going. This month we will delve into one gated single family home community in Wellen Park. Then a few different condo options.
Oasis of Wellen Park
Let's take a look at Oasis a community in Wellen Park. Oasis is unique in Wellen Park because it was designed to be an enclave community of fewer than 130 homes, they are larger homes on larger lots. Home sizes range from about 2100 square feet to over 3300 square feet. With so many events & restaurants in Wellen Park and the Gulf of Mexico just 10 miles the Oasis amenity center is intentionally simple with a heated pool and a pickle ball court. And since the the amenities are simple in this maintenance-free community the HOA fees are lower. Currently there are five homes for sale ranging in price from $765,000 to $1,075,000. Four of those have private pools. Of the 13 SOLD homes in the last 180 days the sellers received about 98% of their list price and nine were financed sales.
click & Say HELLO to this stunning Oasis HOME
Venice Island Condos
AWWW life on the Island, Venice Island that is. What are the options for condo life on the Island? Naturally, if you want a view of the Gulf of Mexico the price reflects that amazing view. For boaters there are condos that have boat docks, so you step right out of your condo, onto your boat and head out to the Gulf of Mexico. There are simple 1 or 2 bedroom condos blocks from the beach to expansive luxury condos that live like a house. Price range of condos on Venice Island range from $225,000 to $4,250,000. There is a condo to fit most every lifestyle Island dream. Of the 88 condos that have SOLD in the last 180 days Sellers received 97% of their list price the majority were cash sales.
Check out this condo with a boat dock on deep water
Plantation Golf and Country Club
There is a community in Venice called Plantation Golf and Country Club. Within this community are estate homes, villas and condos. This is an amenity rich country club community with a special twist. The twist being you can join the country club at different levels or you can opt to not join the country club at all. It is broken down into sections, neighborhood if you will, within each neighborhood is its own swimming pool. A another plus to PG& CC is it's only a few miles from Wellen Park and only a few miles to several area beaches. So, if just enjoying the beauty of a golf course community and having access to a pool is all you need this community could be the one for you. Or if you want it all joining the fabulous PG&CC is a wonderful way to go. Focusing on just the condo market in PG&CC there are currently 25 condos on the market with a price range of $249000 to $515,000. For the sold condos there have been 30 in the last 180 days and Sellers received about 97% of their list price. The sold prices have ranged from $259,000 to $435,000 and more than 2/3 were cash sales.
Many of the condos have incredible views of the golf course, like this one.
What area will we explore next month? If you have an area or a community you would like to know more about let me know and it will be one of our highlighted Stats and Data communities.
Happy FALL Y'ALL!
Thanks for taking the time to read our blog newsletter.
Oh and a fun thank you to Rich &Joanne, Vinny & Joann who we ran into on my birthday. The margarita was wonderful!
Since it is October-- did you know there are Local Ghost Tours? Click the links to get the details.
Venice Ghost Tours
Punta Gorda Ghost Tours
Anna Maria Island
I have to leave you with a giggle..
#maryraywestbrook