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Nationwide, the median sales price has seen fluctuations, leading to a sharp increase in mortgage payments for buyers. Comparatively, many buyers who previously would have purchased homes at lower interest rates now find their options narrowing or becoming financially unattainable.
The Local Economy and Resort Developments
The economy within the broader Charlotte County area has also faced challenges, especially with developments like Sunseeker Resorts. Originally heralded as a promising venture, the resort appears to be struggling, with questions looming about its viability. Many locals are uncertain whether it will attract future business or draw in tourists as initially hoped.