Bonita Area October Home Sales

Bonita Area October Home Sales bounced back after the Hurricane in September according to the Bonita Springs-Estero Association of Realtors (BEAR). Overall, for both single family home and condos, the median closed price increased 1 percent compared to last October. Both Pending Sales and Closes Sales were down for the month of October, which was likely due to the hurricane Irma last month.

However, for the 12 months ending October 2017, both Pending Sales and Closed sales increased slightly. Pending sales rose from 2,878 up to 2,963 which is a 3 percent increase. Also, closed sales were up 7 percent from 2,814 up to 3,019 for the 12 month period. Finally, the Average Days on Market rose slightly from 94 to 96, or 2 percent over the past year.

Ultimately, the market is currently showing less higher priced inventory and more lower priced inventory, which bodes well for both buyers and sellers.

Bonita Area October Single-Family Home Sales

Year-Over-Year Bonita Area October Home Sales – Single Family Homes:

Closed Sales fell 14.5 percent down from 76 homes sold in October 2016 compared to 65 homes sold this year
Median Sale price increased significantly from $316,408 down to $382,000 during the same time which his a 20.7 percent increase
New Listings increased slightly by 1.3 percent from 152 last year up to 154 this October
Inventory decreased 4.3 percent versus October last year, down from 536 to 513 homes on the market

Bonita Area October Condo Sales

Year-Over-Year Bonita Area October Home Sales – Condos:

Closed Sales increased 17.9 percent up from 56 homes sold in October 2016 compared to 66 homes sold this year
Median Sale priced decreased slightly from $236,000 down to $224,000 during the same time which his a 5.1 percent decline
New Listings increased 8.5 percent from 129 last year up to 140 this October
Inventory increased 4.9 percent versus October last year, up from 469 to 447 homes on the market

Bonita Area October Home Sales Related Articles:

BEAR Market Report October 2017

BEAR Market Data Report October 2017

Nationwide October 2017 Existing home Sales Report

In Which States Did Properties Sell Most Quickly in October 2017

New Construction:

Permitting for new construction in the Bonita Springs area increased during the month of October. Contractors pulled 172 permits to build single-family houses worth approximately $29.2 million in unincorporated Lee County. As you might anticipate, this is a significant increase over September when only 86 permits were issued according to the Lee County Department of Community Development (www.leegov.com/dcd/). Also during October, 304 multifamily units valued at about $29.3 million were permitted, compared with four units in September 2017 and no units in October 2016. General commercial activity was valued at about $7.4 million for 36 permits, compared to about $9.9 million in September 2017 and about $17.7 million in October 2016. Finally, Lee County Community Development issued 5,297 permits of all kinds in October.

Are You Considering Selling:

With the holiday season here, area experts and brokers are also advising homeowners to list now in advance of the anticipated seasonal inventory swell. Here are 10 Reasons to List Your Home During the Holidays (Debbie Reynolds).

Overall, Bonita Springs and Estero continue to see stability in the market. Several listings are priced at fair market value and analysts expect this trend to continue into the new year.

Buying a Property – Begin Your Own Property Search:

So, if you’re ready to begin your property search, I encourage you to explore my website to find information about communities in Southwest Florida. If golf is your game, I specialize in golf community real estate and would be happy to help you navigate the more than 100 different golf communities in our area. If you prefer a more direct approach, I will provide a list of properties that meet your criteria and/or communities that meet your needs.

Bottom Line:

If you are buying a home in a golf community, you will find it’s more complex than a typical home purchase. As you can probably imagine, there are significant differences between golf communities. There are many different fee structures, membership options, pet restrictions, demographics and many other details that apply to the SWFL golf communities.

Also, if you are considering new construction, remember the contractor’s real estate agent represents the builder’s best interest, not yours. There is no cost to you to have an agent represent you. In fact, I may be able to help you save money and negotiate for extras which the builder may not let you know about.

If you’re looking for information about a specific community in Bonita Springs, Estero or Naples, please contact me and I will prepare a custom market report for you. I will provide the market information and insights to help make sure you select your dream home!

Lastly, I will handle all contract negotiations for your property from offer to close!