NORTH PORT, Fla. — Home prices have dropped in North Port more than anywhere else across the country over the past year, according to a report by Consumer Affairs.
The report says the median sale price in North Port dropped from $477,229 to $427,907, which is 10.3% between April 2024 and April 2025.
North Port Community Correspondent Hunter Walterman explains why a realtor believes the drop is so significant:
Rising insurance costs in the wake of major storms like Ian are partially to blame, the report suggested. As insurance becomes more expensive, home buyers have less money to play with - forcing sellers to drop prices.
David Haller, the owner of the RE/MAX Select Group, suggests the price drop indicates market stabilization, with new development in North Port helping to drive down home costs.
"The prices have gone down, I think, because we do have a surge in inventory – and whenever you have that much inventory in a market, you're going to see prices go down," Haller said.
Currently, there are more than 1,000 single-family homes for sale in North Port, according to Haller, who emphasizes that the market – not realtors – determine home prices.
"I think people are also seeing a increase in insurance premiums, and that's causing people to realize that their buying power is a little bit less than it was in the past," Haller said.
North Port is not alone. Five of the top 10 cities where home prices dropped are in Florida, according to Consumer Affairs. Punta Gorda ranks fifth nationwide for declining home prices.
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