2017 :
YOUR YEAR MADE CLEAR
® REALTOR
ECONOMIC OUTLOOK February 10, 2017
TODAY OVERVIEW • • •
GO OVER THE EXCITING STATS! REVIEW LEGISLATION, LENDING & IMPORTANT INFO! THEN: HOLD OUT FOR THE BEST FOR LAST: GIVE TOOLS & PROVEN INDUSTRY STATS TO SEIZE YOUR BEST 2017!
REAL ESTATE OUTLOOK
CHARLOTTE COUNTY Single Family Homes
2016
2015
2016 vs 2015
Condos & Townhomes
2016
2015
2016 vs 2015
Closed Sales
4,444
4,690
-5.2%
Closed Sales
1,130
1,116
+1.3%
BREAKDOWN Single Family Homes
Closed Sales
2015 vs 2016
Condos & Townhomes
Closed Sales
2015 vs 2016
Port Charlotte
1,678
-2.3%
Port Charlotte
263
+11.01%
Punta Gorda
425
-11.1%
Punta Gorda
598
-4.53%
North Port
1,649
1.19%
North Port
104
+31.6%
DeSoto County
222
-11.9%
DeSoto County
43
+4.9%
CLOSED SALES
2016 Closed Sales 1800 1600 1400 1200 1000
800 600 400 200 0
Port Charlotte
Punta Gorda
Single Family Homes
North Port Condos/Townhomes
2016 SALES AREA OVERVIEW BY UNITS
DeSoto County
CHARLOTTE COUNTY: RESIDENTIAL (2011-2017)
Charlotte County & North Port : Residential Overview
NORTH PORT : RESIDENTIAL (2012-2017)
UNIT SALES PER YEARS BY MONTH
Single Family Homes
Median Price
2015 vs 2016
Port Charlotte
$145,000
+16.5%
Punta Gorda
$365,000
North Port DeSoto County
+4.3%
Condos & Townhomes
Median Price
2015 vs 2016
$185,362
+43%
Port Charlotte
$114,625
+28.3%
$115,000
+9.5%
Punta Gorda
$146,375
+27.5%
North Port
$191,545
+6.3%
DeSoto
$116,000
+.9%
Charlotte County – Single Family Homes Graph 2016 Average Median: $189,900 +13%
MEDIAN PRICE
CHARLOTTE COUNTY: RESIDENTIAL (2007-2017)
Charlotte County & North Port : Residential Overview
NORTH PORT : RESIDENTIAL (2007-2017)
MEDIAN PRICE TREND PER YEAR
DOLLAR VOLUME Single Family Homes
Dollar Volume
2016 vs 2015
Charlotte County
$1 Billion
+4.4%
DeSoto County
$34.1 Million
-5.8%
Condos & Townhomes
Dollar Volume
2016 vs 2015
Charlotte County
$49.1 Million
+27.4%
DeSoto County
$5.1 Million
-1.8%
Charlotte County : Single Family Homes: Dollar Volume (2011-2016)
DOLLAR VOLUME ALLSTARS Single Family Homes
Dollar Volume
Port Charlotte
2016 vs 2015
$269 Million
12.5%
Punta Gorda
$167.4 Million
-6.7%
North Port
$304.8 Million
-4.54%
DeSoto County
$34.1 Million
-5.8%
Condos & Townhomes
Dollar Volume
2016 vs 2015
Port Charlotte
$27 Million
+21.85%
Punta Gorda
$104.4 Million
-1.36%
North Port
$39.2 Million
+62.9%
DeSoto County
$5.1 Million
-1.8%
Out of 4444 Single Family Home Sales in Charlotte County, how many were cash? Charlotte County - Single Family Homes
2016
2015
Cash
1,780
2,262
The Percentage of Cash Sales:
40.1%
48.2%
Percentage of Closed Sales Paid in Cash: Charlotte County (2012 – 2016) Other Sales involve some sort of financing: Mortgages, Owner/Seller Financing, Assumed Loans, etc.
STEADY DECLINE IN CASH SALES, BUT HEALTHY!
Single Family Homes
Cash Sales
2016 vs 2015
Port Charlotte
625
-26.2%
Punta Gorda
211
-15.9%
North Port
497
-26.04%
DeSoto County
103
-14.9%
Condos & Townhomes
Cash Sales
2016 vs 2015
Port Charlotte
190
1.84%
Punta Gorda
348
-15.1%
North Port
104
+31.6
DeSoto County
28
+3.7%
CASH SALES
NORTH PORT NOTABLES Active Inventory
2016
2016 vs 215
Single Family Homes
101
+43.88%
Condos & Townhomes
73
+69.8% New Pending Sales
2016
2016 vs 2015
Single Family Homes
579
-18%
Condos & Townhomes
241
+38.5%
Months Supply of Inventory
2016
Single Family Homes
4 months
Condos & Townhomes
4.2 months
INVENTORY : MSI CHARLOTTE COUNTY
2016
2016 vs 2015
Single Family Homes
4.8 mos.
+20%
Condos & Townhomes
5 mos.
+6.4%
Manufactured Homes
4.2 mos.
+44.8%
DESOTO COUNTY
2016
2016 vs 2015
Single Family Homes
4.6 months
+9.5%
Condos & Townhomes
5 months
+150%
Manufactured Homes
5.3 months
+152.4%
MSI (Months Supply of Inventory) : is a useful indicator of market conditions. Benchmark for a balanced market is 5.5 MSI : anything higher is traditionally a buyers market, anything lower is a sellers’ market It’s been a Sellers’ Market since 2015 & continues with positive increase this year, after decreases since 2011
INVENTORY Single Family Homes
Condos & Townhomes
Charlotte County : Months Supply of Inventory
Charlotte County Residential Overview (2008 – 2017)
INVENTORY: ACTIVE LISTINGS
DISTRESSED HOME SALES Single Family Homes
Charlotte County
DeSoto County
Traditional
+6.1%
-5.9%
Foreclosure/REO
-57.7%
-17.5%
Short Sales
-39.5%
-90%
TRADITIONAL SALES ARE STAYING THE MOST LEVEL
Average Days on Market (ADOM) vs List Price Median (2012-2017)
NORTH PORT
TREND: Taking Less days to Sell Inventory & with an Increasing Sales Price!
CHARLOTTE COUNTY : RESIDENTIAL (2012-2017)
LESS INVENTORY: GREAT TIME TO SELL
NORTH PORT : RESIDENTIAL (2012-2017)
ACTIVE LISTINGS
CHARLOTTE COUNTY: RESIDENTIAL (2012-2017)
Charlotte County & North Port : Residential Overview SELLING AT NEAR 98% OF LIST PRICE
NORTH PORT : RESIDENTIAL (2012-2017)
LIST/SOLD RATIO PER YEAR
CHARLOTTE COUNTY: RESIDENTIAL (Feb. 2016 –Feb. 2017)
Charlotte County & North Port : Residential Overview SELLING AT NEAR 98% OF LIST PRICE
NORTH PORT (Feb. 2016 – Feb. 2017)
LIST/SOLD RATIO PER YEAR
CHARLOTTE COUNTY: RESIDENTIAL (2015-2017)
Charlotte County & North Port Residential Overview
NORTH PORT : RESIDENTIAL (2015-2017)
SALES QTY AT DIFFERENT PRICE RANGES
Charlotte County Residential Overview (2008 – 2017)
SALES, MEDIAN PRICE & INVENTORY
PRIMARY REASON FOR HOME PURCHASES
THE REAL ECONOMIC OUTLOOK: LIFE MOVES PEOPLE
2016 NAR Profile of Home Buyers
WHAT EFFECTS OUR BUSINESS?
LENDING & LEGISLATIVE Affordable Housing Estoppel Certificate Fees Flood Insurance
Legislative
Water Policy
Lending
Property Tax Caps/Cuts: Second Homes & Business Rent
36 = FL First Time Buyers 55 = Median Age of FL buyers
Gen Y
2016 NAR Profile of Home Buyers: Emphasizing the Digital Era
TECHNOLOGY
TECHNOLOGY NAR Member Profile: 2016 Florida Report: 54% : of Realtors® reported having a website 11% : Reported having a Blog 70% : Use Social Media
DO YOU? How about Videos?
ARE WE HEADING TOWARDS AGENT VS THE INTERNET?
2016 NAR Profile of Home Buyers Internet Searches Lead to BUYING from an agent. Be the one they find their 1st “possible” home through. They Need/Want an agent to guide them through.
TECHNOLOGY
USING TECHNOLOGY TO WIN ON BOTH ENDS!
2016 NAR Profile of Home Buyers Supply tools to shorten the searching process: For both you & them (Triple Win)
TECHNOLOGY
HOW DO WE STAY UP TO DATE? ATTEND UPCOMING CLASSES AT THE ASSOCIATION:
PROVIDING VALUABLE INFO ON THESE TOPICS!
FLORIDA REALTORS CONVENTION: ORLANDO: AUGUST 16-20, 2017
NAR ANNUAL CONFERENCE & TRADE EXPO IN CHICAGO: NOVEMBER 1-6, 2017
MARK YOUR CALENDARS
Florida Realtors Convention: Orlando