Some homes in Southern Sarasota County exceeding $500 ppsqft (Cape Coral, Punta Gorda: insurance, condos)

[JD_MD]

How do you feel about the weather in Houston? Also, air quality? There's a lot to like about Houston but the weather can be be similar to Florida in some ways in the Summer but also Spring and Fall- hot, humid, bugs and seems to get more storms, heavy rains, and flooding.

People your age that work in my firm's Houston office like the culture, amenities, value for your money and put up with the weather and sometimes traffic. Property taxes in Texas seem to be trending higher than in Florida though I am not familiar with those trends specifically in Houston.

[beach43ofus]

6 homes pending sale for $1M+ in just 1 zip code in Venice...8 homes at $975k+

$430 ppsq ft to $635 ppsq ft (lots included).

6 yrs ago, we contracted to build a new home here for $184 ppsq ft (lot included)...those before us paid even less.

Prices stalled, then took a step back for ~1 yr. but now are rising slowly again.

Some sellers are trying to push the rise too hard, so they then need to return to Earth w/ reductions, but even the reduced prices are above what we saw 1 year ago.

I guess some of it is due to interest rates leveling off, & starting to dip. Some of it is likely due to it being high season, & so many visitors are here....some on buying missions.

I'm seeing a lot of activity at open houses, and the new home community sales centers again...heavy foot traffic.

I never saw any of this steep appreciation coming to this forum area.

The housing market & economy overall are booming again...in Southern Sarasota County anyways.

Parking spots are at a premium; everywhere I go....3 more months of this to go.

[Trying941]

Originally Posted by beach43ofus

6 homes pending sale for $1M+ in just 1 zip code in Venice...8 homes at $975k+

$430 ppsq ft to $635 ppsq ft (lots included).

6 yrs ago, we contracted to build a new home here for $184 ppsq ft (lot included)...those before us paid even less.

Prices stalled, then took a step back for ~1 yr. but now are rising slowly again.

I am seeing the same price per sq.ft., with entry level newish homes at $750k instead of $500k in just two or three years, or about $325 sq. ft.

Builders are now getting $1.1-$1.2m for 2800-3000 sq ft nicer models.

Prices up north are rising again, as are sales, now that interest rates have slightly declined. Hence northerners can sell and cash out again, and buy here for mostly cash. So, demand is up.

[MOforthewin]

Originally Posted by Trying941

I am seeing the same price per sq.ft., with entry level newish homes at $750k instead of $500k in just two or three years, or about $325 sq. ft.

Builders are now getting $1.1-$1.2m for 2800-3000 sq ft nicer models.

Prices up north are rising again, as are sales, now that interest rates have slightly declined. Hence northerners can sell and cash out again, and buy here for mostly cash. So, demand is up.

Houses in my area of Charlotte county finally leveled off, not going down anymore. Why I mentioned Houston, well just south of Houston the suburbs is because it's younger, bigger metro area. If I sold my house here in Punta Gorda, paid the mortgage off and I could buy a house in cash in Texas. My current house is 2300 sqft, 4 beds. Texas I could buy like 3 bed 1800 sq ft in cash and be around younger people. It does get colder in the Galveston Houston area but still have beaches and cheaper than FL and much younger crowd too.

Corpus also cheaper houses for the money some of them nice too.

[MOforthewin]

Yikes for me! I see price slashes all over. Also seeing it in Cape Coral too.

https://www.redfin.com/city/15328/FL...housing-market

https://www.redfin.com/city/2654/FL/...housing-market

[joshan]

I just got about 30 price increase emails this morning in my collections in LWR. (new construction)

[MOforthewin]

Originally Posted by joshan

I just got about 30 price increase emails this morning in my collections in LWR. (new construction)

Why places like Cape Coral, Punta Gorda are prices decreasing when these are growing communities as well? Cape grown fast. Do you think there is an Ian effect still further down the coast?

[joshan]

More modern, Less flood Risk, Newer Homes with better building standards and it looks like this.

[heallytim]

What about Grand Park in Sarasota new,at over $325 a square foot for a town house? How crazy would that be ? They make them sound like there giving them away.

[beach43ofus]

Originally Posted by heallytim

What about Grand Park in Sarasota new,at over $325 a square foot for a town house? How crazy would that be ? They make them sound like there giving them away.

That's a deal..there's a home pending on Home Run Drive in Wellen Park that cost $649/sq ft.

We paid $184/sq ft 5 years ago, not far from there for a comparable home/lot.