Not since the summer of 2005 have we seen such a massive increase in local home sales.  A 44 percent increase in North Port, Port Charlotte and Punta Gorda home sales, and a 35 percent increase in Sarasota and Bradenton home sales shows first time home buyers and investors getting back into the game. After news of extended government real estate tax incentives, buyers are chomping at the bit, taking advantage of the current median home value and playing hard ball in search of local deals and investment properties.

Home prices in Charlotte County (Port Charlotte homes, North Port homes) were down 27 percent from one year ago.  Dropping from a median value of $145,600 down to $106,600 and home buyers are taking advantage.  With 311 homes changing hands in June of 2010, compared to the 216 homes in June of 2009, Port Charlotte and North Port home sales have risen 44 percent in one year’s time.  Home owners in the region are breathing a sigh of relief as this rise in home sales is the second largest sales increase in the entire state of Florida.

Home values in the Sarasota and Bradenton area (Venice homes, Sarasota homes, Bradenton homes, Lakewood Ranch homes) saw a slight increase, rising 5 percent from June of 2009 to June of 2010.  Median home values in the area have risen from $166,400 in May 2010 to $170,400 only one month later.

Though seeing only a third of the sales that Charlotte County residents have enjoyed, Sarasota and Bradenton home sales are on the rise.

Real estate analysts believe the recent spike in home sales may be due to the $8000 federal tax credit that first time home buyers are receiving this year, spurring potential buyers into a real estate buying spree over the last 6 months.