Real Estate Update
Bonita Springs and Naples Real Estate Update
The latest real estate reports are now available from the Bonita Springs-Estero Association of Realtors (B.E.A.R). And all indications are the real estate market in Southwest Florida is going to be hot! After reviewing numbers for the the Bonita Springs, Estero and North Naples area, there are numerous factors to back it up.
When you compare this year’s November statistics versus last year’s statistics, one key factor is inventory is increasing. Hence, this is great news for buyers as you will have more properties to chose from.
Additionally, both pending sales and closed sales increased which is great news for sellers. If you are considering selling, now is the time for you to put your home on the market.
Bonita Springs, Estero and North Naples Real Estate Highlights for November:
- New listings added during November increased 15 percent from 258 to 274
- Overall inventory increased 41 percent from 793 to 1,120
- Average list price increased 14 percent up from $498,000 up to $569,000
- Average days on market increased 18 percent up from 126 units to 148 units
- Pending sales increased 6 percent from 306 to 304 properties
- Closed sales increased 7 percent from 130 to 139 homes
Also, as you can see by the data below, sales of single family homes increased slightly. Sales of condos fell by 7 percent from October to November f 2016.
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Bottom Line:
Overall sales continue to rise, prices continue to go up and activity is picking up. Additionally, interest rates are increasing. So, for those of you in the polar vortex up north, perhaps it’s time for you to consider buying a home in Southwest Florida. Did I mention you won’t need a snow shovel if you move to our area? We have more than 300 days of sunshine per year.
Finally, if you are looking for information about a specific community in Bonita Springs, Estero or Naples, contact me and I will prepare a custom market report for you. With more than 15 years of experience I can help provide the market information and more importantly, provide insights to help ensure you select the best community to match your needs.
