34228
North Port, Florida

ZIP code 34228 in North Port presents a significantly correcting luxury market, with the median sale price reaching $1,000,000 while declining 28.6% year-over-year through February 2026. Homes are averaging 56.5 days on market, and only 2% of properties are commanding above-ask prices, indicating virtually no bidding competition. This price compression at the seven-figure threshold suggests either a shift in property mix or genuine value deterioration in this coastal Florida submarket.

Buyers hold substantial negotiating leverage in these conditions, particularly those targeting high-end properties who can capitalize on the 28.6% price decline while sellers absorb carrying costs during the near two-month marketing period. Cash purchasers and patient investors seeking discounted entry points benefit most, as the 2% above-list metric confirms sellers are accepting—or being forced into—price reductions. Current homeowners considering sales face unfavorable conditions with compressed values and limited urgency from the buyer pool.

The PropIQ score of 41 signals continued caution, suggesting this downward trajectory has not yet stabilized despite the market entering its third year post-peak. The combination of the low score and anemic above-list percentage indicates further price discovery is likely needed before establishing a floor. Monitoring monthly absorption rates and any uptick in properties selling above ask beyond the current 2% will provide the earliest signals of sentiment reversal in this luxury-tier segment.